FOX owns 49% equity stake from YES Network

FOX News Corporation recently purchased a 49% equity stake from YES Network. To further explain what that means, here’s the article from LoHud Yankees:

News Corporation has an agreement to acquire a 49 percent equity stake in the YES Network. After three years, News Corporation can acquire a stake that takes it to 80 percent. People, of course, are wondering if these FOX people will try to buy the Yankees from the Steinbrenners down the road.

YES also now has a rights agreement to carry Yankees games through 2042.

Here’s a statement from Hal Steinbrenner:

“This transaction underscores the great value we and our partners created in establishing the YES Network and sets the network on the path for even greater achievements in the future.  We are excited to have News Corporation as a partner.  Its stature and acumen in sports broadcasting on a global scale is unmatched.  We look forward to the many opportunities for growth and development that this investment by News Corporation will bring to YES.  The Steinbrenner family expects to have a continuing, long-term ownership stake in the YES Network and we will continue our yearly commitment of fielding a championship caliber team for decades to come.”

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About Delia E.

Delia Enriquez is the managing editor of Yankees Fans Unite. She enjoys analyzing the New York Yankees whether it be their pitching, roster or their manager. You can follow her on twitter @dfiregirl4 for more tweets, analysis and opinion on the Yankees.

Posted on November 20, 2012, in Misc. News and tagged , , . Bookmark the permalink. 9 Comments.

  1. how much money changed hands on the 49% swap,.. and did the yankees get cash or private stock in fox?

    i would like details of this private deal,.. and if it is shares in fox,…what kind of shares are they, and is it tied into standard equities?

    overall,…. this deal points to what ive been saying for months about the yankees not having enough monies, and that i believe the iron is hot for the stienbrenners to cash out,.. even if it mean stock swaps with some equities mixed in.

  2. This could be step 1 of a 3-5 year plan for the Steinbrenners sell the Yankees, most people are saying. Hope it’s not true. As long as YES doesn’t change its programming at all…..the last thing I want to see is a Fox News Desk update after every inning, instead just the 5th.

  3. that what i said 1-5 years to cut debt, to lower revolving credit debt,. to cash out,……. i cant say that as i fan that i know the steinbrenner brothers are embracing this business like their father did,…… maybe a chanmge would be ok,… … the down thougfht is that we saw what cbs did with the yankees back in the day,….. i have zro faith that a board of directors at fox could manage the baseball side properly,…… maybe several moves have to be made ,,.. to eventually sell controling intrest to a 3rd party,……

    that being said, george bought the team in 1973 for 10 milliuon,… and the family will walk away wityh 5 million in 1 to 5 years, in private stock in some companies, equititeis in solme so me companies, and cash,… for a total of 5 billion,…

    set up georges grand children and great granchildren, neices and nephews, and trhier children,, to go to the bestg colleges, and be raised in the best way,.. and go out any make their own fortune,in their own lives,…

    i think the styienmbrenners are gonna pull the trigger on this

  4. if hank and hal do not enbjoy is like george did,.. by asll mreans,, pull the trigger,…. and sell, but do it properly, tsake the 5 years,.. and do it right,…. for their greater ecxtended families

  5. and do it right for the fans too,………. dont follow the doidgers mold,……. do it slowly, take you time,.. get the team fiscally straightened out,….. no law suits,….. 5000-1 million dollar shares, to go around the family, is alot of money,…… its wont be all cash, it will be private stock in fox, stock in public equyities- ie the stoick market, and some cash,…….. if the steinbrenner family itself can avoid any of them being greedy, 5000-1 million dollar shares, 5 bnillion,… can go a long way for their family….

    but to keep the fandom legacy intact,… not only for their own benefoit, but the befit of the new owners,.. just take your time, do it right,…

    no fan will begrudge them cashing out, if it is done right,……. and the team is still respectable

    • True that. They may have Steinbrenner blood, but it seems like, especially for Hal’s sake, that the young elephants have no intention of operating a baseball team the way George did. But I have no idea who could be buyers; if Fox ever purchased the Yankees I’d lose my mind.

      • Brian D…took the liberty, to enlarge your Gravatar. Very nice, new stadium, and hat. Nice pix!…don’t take any donuts from Fatboy. He buys them in Lakewood, NJ…the condemned Twinkie site.

  6. Why does it matter who buys the team? The Fox Network is probably the best at building a business into the largest in the world…and unlike CBS they will not cut corners doing it. My guess would be they hire the best people they can get, to run the Baseball part of the business and they will have full control of the baseball part. Unlike it is now with bookkeepers like Randy sticking his bad ideas into the equation.
    Anyhow, that is the way Murdock handled the Fox News.
    By the way I think the team is worth much more than $5mm, I don’t recall the amount but, I thought it was in the double diget $mm, I may be wrong on the exact money.

  7. Oh, MAN…I live the bloggers life!…Yankees agree to terms with Kuroda, and sign Mickey Storey, from Houston, Nice K’ to innings pitched…10.1. Cow Girls, up!

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