Deals

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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By Spencer Soper and Eben Novy-Williams

August 29, 2019 at 8:33 PM UTC

Updated on

August 29, 2019 at 9:24 PM UTC

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.