Deals
News Corp. to Acquire 49% of YES Network at $3 Billion Value
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News Corp., the media company led by Rupert Murdoch, agreed to buy 49 percent of the YES Network, the cable channel that carries New York Yankees baseball games, in a deal that values the pay-TV outlet at about $3 billion.
News Corp. is acquiring the stake from the Yankees, Goldman Sachs Group Inc. and other investors, the companies said today in a statement. Murdoch can raise the stake to 80 percent after three years. Other financial terms weren’t announced.