News Corp. Confirms Purchase of YES Network Stake
News Corporation just made the rumor that it was purchasing a stake in YES Network a fact. According to a press release from the company, the deal for News Corp. to acquire a 49 percent stake in YES will close by the end of the year.
As part of the deal (numbers were not disclosed) Yankee Global Enterprises, YES’s parent, Goldman Sachs, and others reduce their stake. After three years, News Corp. has the green light to purchase up to 80 percent of the network.
WORK SMARTER - LEARN, GROW AND BE INSPIRED.
Subscribe today!
To Read the Full Story Become an Adweek+ Subscriber
Already a member? Sign in