YES Network Sale Rumors Return
Network Could Sell for Up to $3.5B
By Steve Donohue -- Multichannel News, 8/2/2007 5:33:00 AM
Yankees Entertainment & Sports Network is up for sale, Fortune reported Thursday.
Rumors have persisted for years that the regional sports network -- which carries New York Yankees Major League Baseball games -- is on the block. Goldman Sachs and Providence Equity Partners, which own a 40% stake in the channel, are often cited as parties looking to cash in their stake in the channel.
The Fortune report contained few details about a potential sale, and Yankees president Randy Levine told the magazine “absolutely not” when asked if the network is for sale.
But Levine also reportedly said that YES Network may be “testing the market.”
Multichannel News reported last August that Goldman Sachs and Providence Equity Partners would gain the right to sell their 40% stake in the RSN without the approval of the Yankees or any other shareholder.
Parties that might be interested in buying YES Network include Verizon Communications, Comcast, FSN, Yahoo, NBC Universal and Viacom, Multichannel News reported last year.
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