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Yankees Join Amazon and Sinclair to Buy Team’s Cable Network

  • Group acquires asset from Disney, which acquired it from Fox
  • Amazon has been pushing deeper into sports in recent years
Fans stand as a giant American flag is stretched across the outfield during the performance of the National Anthem between the New York Yankees and the Detroit Tigers at Yankee Stadium in the Bronx borough of New York City.

Photographer: Alex Trautwig/Getty Images

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The New York Yankees are joining forces with Sinclair Broadcast Group Inc. and Amazon.com Inc. to buy the team’s cable network in a deal valued at $3.47 billion.

Yankee Global Enterprises announced the widely expected purchase Thursday, saying the group bought the 80% stake from Walt Disney Co. The investors also included RedBird Capital, Blackstone’s Tactical Opportunities business and Mubadala Capital.