The Walt Disney Co. has accepted an offer for the sale of YES Network for $3.47 billion, The New York Post reports. The sale, which had been expected, is to a group that includes the New York Yankees, Amazon and the Sinclair Broadcast Group.
The deal will be for the 80 percent of YES that the Yankees don’t already own.
“Disney is selling YES — along with 21 other regional sports channels throughout the country — to gain regulatory approval for its $71 billion deal to buy Twenty-First Century Fox because Disney also owns ESPN,” The Post reports.
The report notes that Amazon, which is seeking to extend its reach into streaming sports events, will now be able to stream Yankees and Brooklyn Nets basketball games.
“Sinclair, which owns 193 local TV stations, also has larger ambitions,” The Post reports. “The conservative media company plans to use YES to help it sell other programming it owns, like the Tennis Channel, Stadium or science fiction network Comet, to New York cable companies, a source close to the situation said.”