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News Corp. to acquire stake in Yank’ YES Network

By Ronald Blum
Published
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NEW YORK (AP) — News Corp. is acquiring a 49 percent stake in the YES Network, a deal that gives the New York Yankees’ owners hundreds of millions of dollars and values the channel at $3 billion.

Yankee Global Enterprises, Goldman Sachs and other investors will reduce their ownership as part of the transaction, and the team will receive $500 million.

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