A group of investors led by Amazon and the New York Yankees are in the process to purchase the YES Network for $3.5 Billion.
It looks like Amazon and Jeff Bezos will be making an impact in New York after all. According to multiple reports including the New York Post, Forbes and Fox Business, Amazon will lead a group of investors which includes the New York Yankees and Sinclair Broadcasting in a deal to buy the YES Network for a whopping $3.5 billion.
Disney is dumping YES along with 21 other regional sports networks across the country as part of a deal to purchase Twenty-First Century Fox. That deal is reportedly for $71 Billion. Disney has to sell the networks so that they can gain approval for the Fox deal.[membership level="0"]
The group has the upper-hand in purchasing the rating declining network. Disney has to sell these brands quickly and should they decline the offer by the Yankees group, the price would have to be determined through arbitration. That’s a process that could take time Disney does not have to spare.
Disney has to sell YES and the 21 other networks within 90 days of closing on the Fox deal.
The Yankees group will be able to make up profits by offering a pay service to have Yankee games and Nets game streamed live.
Streaming is becoming a viable option for many around the country. Amazon could look to capitalize on that with YES. Modern technology is great but always seems to come with an extra price.