News Corp. acquires stake in YES

Updated: November 20, 2012, 12:14 PM ET
By Darren Rovell | ESPN.com

News Corporation, parent company of Fox Sports, announced Tuesday that it has acquired 49 percent of the YES Network. ESPN reported the deal on Monday, citing sources who were briefed by the network's board of directors.

Final details are still being worked out, but News Corp will buy its shares from the Yankees' holding company Yankees Global Enterprises as well as the other network investors, Goldman Sachs, Providence Equity and NJ Holdings, a group led by former Brooklyn Nets owners ...

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