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Home / Sports / Disney sells its stake in YES Network to an investor group that includes Amazon

Disney sells its stake in YES Network to an investor group that includes Amazon



Jeff Bezos, founder of Amazon and Blue Origin, speaks during the JFK Space Summit to mark the 50th anniversary of the moon landing at the John F. Kennedy Library in Boston on June 19, 2019.

Katherine Taylor | Reuters

Disney announced Thursday its sale of its share of the YES network to an investor group including Amazon.

The investor group, which includes the Yankees and the Sinclair Broadcast Group, acquired the 80% stake in the YES network, which was not already held by the Yankees after its release. The deal totaled $ 3.47 billion, according to the announcement.

Disney agreed to sell 21

st Century Fox's 22 regional sports networks (RSNs) as a condition of Disney's acquisition of the company. The YES network, which broadcasts Yankees games and other local sports and specialty content, was one of the RSNs that the Department of Justice ordered Disney to sell.

A press release from the investor group said that the Yankees, Sinclair and Amazon will build a "new strategic partnership". It's not specifically about Amazon's role in the partnership, it's about the Yankees 'bringing their outstanding achievements to the development, production and marketing of sports content that will impress fans worldwide'. Sinclair will work with YES team management to manage the traditional and the latest content virtual sales relationships. "

YES, network president Jon Litner will remain in his current role, according to the release.

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