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Fox to take majority control of YES

Updated: January 24, 2014, 8:31 PM ET
Associated Press

NEW YORK -- 21st Century Fox is taking over majority control of the YES Network from the New York Yankees' parent company.

Fox said Friday it will raise its ownership stake from 49 percent to 80 percent in a deal it said it expects to close by the end of March.

Yankee Global Enterprises reduced its stake in the network from 26 percent to 20 percent, which will become a consolidated entity of 21st Century Fox.

News Corp., which has since split off its television businesses ...

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