NEW YORK (AP) — The Walt Disney Co. is selling its stake in the YES Network to an investor group that includes Yankee Global Enterprises, Sinclair Broadcast Group and Amazon.
The deal values YES at $3.47 billion. Disney was required to sell off Fox's regional sports networks as part of its $71 billion deal to acquire Fox's entertainment assets. That deal closed in March.
Sinclair said it would buy 21 of the regional sports networks in May, but the 80% stake in the Yes Network was being sold separately. Yankee Global Enterprises already holds a 20% stake in the YES Network. The Associated Press reported the preliminary YES Network deal in March .
YES Network airs New York Yankee baseball games, Brooklyn Nets basketball games, Major League Soccer's New York City FC games and others.