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News Corp. Acquires Stake in YES Network TVWeek

News Corp. announced Monday that it has reached an agreement with Yankee Global Enterprises to acquire a 49% stake in the Yankees Entertainment and Sports Network (YES).

The YES Network also announced a deal that will keep New York Yankees baseball games on the network through 2042. The YES Network delivers exclusive live local coverage of the Yankees and the NBA’s Brooklyn Nets, along with other sports programming.

The announcement was expected, as we reported last week. YES is valued at about $3 billion.

Click here to see the full announcement from News Corp.