Disney Sells Off Stake in YES Network

The Walt Disney Company has sold its equity interest in the YES Network to a newly formed investor group that includes Yankee Global Enterprises and Sinclair Broadcast Group, among others.

The group acquired the 80 percent of the YES Network not already held by the Yankees at a total enterprise value of $3.47 billion.

Last year, Disney and 21st Century Fox entered into an agreement with the Department of Justice that allowed Disney’s acquisition of 21st Century Fox to move forward but required the sale of 21st Century Fox’s interests in 22 regional sports networks, including the YES Network. On August 23, Sinclair completed its acquisition of 21 of the regional sports networks from Disney, excluding the YES Network.