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SBD/November 15, 2012/Media
Sources: News Corp. Close To Acquiring Stake In YES, Adding to RSN Portfolio
Published November 15, 2012
PILING ON: In L.A., Flint & James cite sources as saying that talks between News Corp. and the Yankees "have been going on for several weeks." News Corp. getting a stake in YES would "give it a big presence in the nation's No. 1 media market, where it currently has no sports outlets." The media conglomerate "already owns 20 regional sports networks, including two" in L.A. The company also is in the process of "starting a national cable sports network" to challenge ESPN. In addition, News Corp. owns "about 13%" of the Rockies (L.A. TIMES, 11/15). In N.Y., Chozick & Cieply wrote YES Network would "add significant heft" to News Corp.'s "already large portfolio of regional sports assets and fits into the company's strategy of building its sports television business" (NYTIMES.com, 11/14).