Cablevision Systems Corp. and Yankees Entertainment & Sports Network cut
a one-year carriage deal Monday night, less than a half-hour before the opening
pitch was thrown in the New York Yankees' opening game against the Toronto Blue
The deal, mediated by New York Attorney General Eliot Spitzer, is similar to
the original agreement YES and Cablevision announced March 12.
Cablevision is offering YES to subscribers who already get Madison Square
Garden Network and Fox Sports New York in premium tiers.
It's also offering YES a la carte for $1.95 per month and in a $4.95 tier
that includes MSGN and FSNY.
Cablevision will pay YES $2.12 for every subscriber who gets the network.
The parties will go into binding arbitration if they don't finalize the
interim 10-page deal within one year.
One source said the new deal says the arbitrator can determine the fair
market value for YES, and YES will be given 'full parity' on the rate and
distribution Cablevision gives MSGN and FSNY.
About 1.1 million of Cablevision's subscribers in New York will get the
The deal also indemnifies YES in its most-favored-nation deal with Time
Warner Cable, meaning Cablevision will pay YES the difference if it ends up
paying a lower rate than Time Warner, a source said.