DETAILS OF TWI'S OFFER ON YANKEENETS RSN BEGIN TO EMERGE

          A deal between the Yankees and IMG's TWI to create an
     RSN would grant the Yankees 95% ownership and TWI 5% of a
     new company to be called New York Sports Network (NYSN),
     according to Bernstein & Frank of the SPORTSBUSINESS
     JOURNAL, who report details on the proposed network, which
     is the subject of a lawsuit filed by Cablevision (see THE
     DAILY, 7/17). In exchange for its 5% stake and an annual $5M
     fee, TWI has agreed to "cover any losses incurred" by the
     new company over its first ten years.  NYSN, "and in turn
     TWI, would be responsible for all production and start-up
     costs" as well as $78M next year in rights fees paid to the
     Yankees and their owner, YankeeNets.  Over the 10-year life
     of the agreement, YankeeNets would receive $1.054B in rights
     fees.  Meanwhile, the deal "guarantees" the Yankees 95% of
     profits from NYSN (SPORTSBUSINESS JOURNAL, 7/24 issue).