Wednesday, November 21, 2012

Murdoch's Interest in 'YES' Men

English: Cap logo of the New York Yankees
 (Photo credit: Wikipedia)
The YES Network cable channel, which broadcasts the New York Yankees and the Brooklyn Nets games, has sold a 49 percent ownership share to Rupert Murdoch's News Corp., Bloomberg News reports.

News Corp.'s reported $3 billion deal with the Yankees, Goldman Sachs Group, Inc. and other investors for an ownership stake in the pay-TV channel allows for Murdoch to increase his ownership share to 80 percent after three years, according to the Bloomberg article. New York Yankees games will continue to be broadcast on YES through 2042 because of a five-year extension of its current agreement.

According to a recent article in Forbes Magazine, the YES Network generates annual pretax earnings of $200 million. "TUOL"'s tireless staff are devoted New York Yankees fans and concerned that the loopy (politically and otherwise) Australian Murdoch will only be interested in the team's "right" fielder.
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