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Slide #20. 21st Century Fox — Majority Stake in YES Network
21st Century Fox (NASDAQ:FOX)
Majority Stake in YES Network
21st Century Fox (NASDAQ:FOX,FOXA) today announced an agreement to acquire a majority stake in the Yankees Entertainment and Sports Network (YES Network), raising its ownership position in the regional sports network to 80 percent from the current 49 percent it acquired in 2012. The YES Network delivers exclusive live local television coverage of New York Yankees baseball and Brooklyn Nets basketball, as well as other Emmy Award-winning local and national sports programming. The acquisition is expected to close by the end of the first calendar quarter, subject to regulatory and other requisite approvals.
Fox produces and distributes compelling news, sports and entertainment content through its iconic domestic brands including: FOX News, FOX Sports, the FOX Network, and the FOX Television Stations. These brands hold cultural significance with consumers and commercial importance for distributors and advertisers. The breadth and depth of Co.'s footprint allows them to deliver content that engages and informs audiences, develops deeper consumer relationships and creates more compelling product offerings. Co. maintains an impressive track record of news, sports, and entertainment industry success that will shape Co.'s strategy to capitalize on strengths and invest in new initiatives.
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