Ownership
When YES launched, Goldman Sachs owned a minority share of the network. In late 2003, the Yankees and Nets decided to part ways, with the Nets being sold to a group led by real-estate developer Bruce Ratner. This sale did not include the Nets' ownership stake in YES, which remained with the pre-merger owners of the team. As part of the sale, the Nets signed a long term deal to keep the team on YES. In 2004, YankeeNets was renamed Yankee Global Enterprises LLC, which owns the Yankees and YES as separate companies. Therefore, the Yankees technically do not own YES. The Yankees, however, receive a rights fee from YES that is somewhat higher than MSG previously paid. In 2007, the portion of the network owned by Goldman Sachs was put up for sale for estate taxes reasons;, however, as of January 2012, it has not been sold.
In November 2012, News Corporation agreed to terms on a 49% stake in YES, pending approval by Major League Baseball. The deal, expected to close by the end of 2012 includes the option to allow News Corp. to acquire 80% of the network after three years.
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