Hindery Checks Out at YES4/05/2004 10:00 AM Eastern
Two weeks after a major carriage victory, Yankees Entertainment & Sports Network chairman and CEO Leo J. Hindery Jr. resigned his position Monday.
Hindery, who served as CEO since the network’s inception in September 2001, will remain as nonexecutive chairman of YES. No replacement has been named, according to the network.
Hindery’s stint was punctuated by YES’ bitter two-year dispute with Cablevision Systems Corp. over distribution for the regional sports network.
Hindery insisted that Cablevision carry YES -- which offers New York Yankees Major League Baseball and New Jersey Nets National Basketball Association games -- on a basic tier. Cablevision pushed for YES -- which charged $2.12 per subscriber, per month -- to be carried as an a-la-carte service.
Cablevision for a time even offered YES as an a la carte service to nondigital subscribers for $1.95 per month, or $4.95 if packaged with Cablevision-owned Madison Square Garden Network and Fox Sports New York.
The dispute ended March 23 when an arbitration panel ruled that Cablevision had to position YES on expanded basic, but at the reduced licensing fee of $1.83. The network is currently in more than 7.5 million households.
Hindery said in a prepared statement that he has achieved his goals with the network.
"With the Yankees’ season just under way and with the very successful Cablevision arbitration recently behind us, I believe that now is the ideal time to turn my attention to other challenges and to fulfilling my personal passions for philanthropy, global AIDS work and progressive politics," he said.