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News Corp. has acquired nearly half of the YES Network, cable home of the New York Yankees, with an option after three years to boost its position to 80 percent (pending Major League Baseball approval). The 49 percent stake is worth quite a bit: Forbes values the network at some $3.4 billion.
The Yankees, Goldman Sachs and other investors will sell down their stakes to make room for News Corp., which means a serious payday for the Yankees, too, given that the organization owns 34 percent of the network at present.
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