News Corp. Acquires Stake in Yankees' YES Network

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News Corp. Acquires Stake in Yankees' YES Network
Paul Bereswill/Getty Images

News Corp. said Tuesday it was acquiring a 49 percent stake in the YES Network, the New York Yankees' regional cable sports channel. Yankee Global Enterprises, Goldman Sachs and other investors will reduce their ownership as part of the transaction, and the team will receive a payment of $500 million for agreeing to the transaction.

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