Yankees Talk to Amazon, Sinclair About Buying Network
According to the Wall Street Journal, the New York Yankees are reaching out to several companies including Amazon (AMZN), Sinclair Broadcast Group (SBG), and Altice USA (ATUS) to partner with them in a bid for YES, the team’s regional sports network.
The Yankees, who already own 20% of the network are looking for a partner to buy YES from it current owner Disney (DIS). As a stipulation of Disney’s acquisition of 21st Century Fox, the US Justice Department is requiring them to sell several of its assets including the Yankee Entertainment and Sports Network – YES. They are looking to sell it for about $5 billion to $6 billion.
Sinclair is one of the biggest TV broadcasters and is currently looking to acquire Fox’s regional sports networks. It’s doing quite well in this venture and according to Fox Business Network earlier this month it was the top bidder for all twenty-one of the stations.
Partnering with the Yankees would allow Amazon to expand its sports offerings which it has recently looked into doing. It already streams Thursday night NFL games and purchasing YES would allow it to add to its portfolio.
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