Sinclair expands regional coverage with 20% stake in YES Network
Category: #headlines  By Pankaj Singh  Date: 2019-08-30
  • share
  • Twitter
  • Facebook
  • LinkedIn

Sinclair expands regional coverage with 20% stake in YES Network

When it comes to sports, fan engagement hikes when the action is live and live sports viewing remains a critical factor driving the sports broadcasting business. The year 2019 will prove to be a pivotal one for broadcasting service providers with sports sitting directly in the center of the action. The latest update from the sports business involves two of America’s leading regional sports networks.

Sinclair Broadcast Group, part of a Yankee Global Enterprises-led consortium, has recently declared that Diamond Sports Group has obtained a 20% equity stake in the Yankee Entertainment and Sports (YES) Network, valued at nearly $346 million over a total enterprise value close to $3.4 billion.

Evidently, Sinclair will manage YES Network’s traditional and virtual distribution relationships under the brand’s management unit.  

The YES Network is apparently America’s most-viewed regional sports network (RSN) that broadcasts a range of content including sports and specialty programs for the Brooklyn Nets, the New York Yankees, WNBA’s New York Liberty and the New York City FC.

With this investment, the Sinclair group now owns 23 RSN brands, including 21 brands Sinclair obtained from Disney a week ago and Marquee with the Chicago Cubs, noted Sinclair President and CEO, Chris Ripley.

Sources familiar with the matter reported that the transaction was funded as part of Sinclair’s initial investment into the Diamond Sports Group.

Some of the other investors in the YES Network include Amazon, Yankee Global Enterprises, RedBird Capital, Mubadala Capital and funds managed by Blackstone’s Tactical Opportunities business. Liontree and Guggenheim were the advisors for Sinclair, according to reports.

For the record, the YES Network has 118 Emmy Awards to its name since its establishment in 2002 and has consistently been rated as one of the most influential sports business brands across the globe.

Apart from regular season Yankees games, the brand also broadcasts two pre- and postgame programs which are the Yankees Magazine, a weekly show that features behind-the-scenes drama, interviews, player profiles and Yankees highlights, and Yankeeography, an Emmy award-winning biography show featuring past and present Yankees greats.

Sinclair had acquired 21 RSN channels from the Walt Disney Company in a transaction worth $9.6 billion recently. The deal was reportedly closed after gaining approval from the Justice Department.

Source credits:

https://www.prnewswire.com/news-releases/sinclair-acquires-20-interest-in-yes-network-300909204.html

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Pankaj Singh    

Pankaj Singh

With a commendable experience of content creation under his belt, Pankaj Singh, a qualified Post Graduate in Management, boasts of having worked as a freelance writer and an insurance underwriter. Additionally, Pankaj has also enriched his qualification portfolio with...

Read More

More News By Pankaj Singh

Lenovo Carme or Mi Band 4 – Fitness tech competition intensifies
Lenovo Carme or Mi Band 4 – Fitness tech competition intensifies
By Pankaj Singh

Fitness trackers have become one of the most sought after consumer goods space in recent years, with numerous technology companies developing fitness bands or smartwatches to help people maintain a healthy living. Chinese manufacturers are leading th...

Intel to use 3D athlete tracking, VR to enhance Tokyo 2020 broadcast
Intel to use 3D athlete tracking, VR to enhance Tokyo 2020 broadcast
By Pankaj Singh

American tech major Intel Corp has recently disclosed its plans to unveil a range new technology products at the upcoming Tokyo 2020 Olympic Games, including AI-driven 3D tracking of athletes to enhance the broadcasts of events. The brand stated tha...

Peter Thiel’s Mithril Capital invests $45M in InMobi Group’s Glance
Peter Thiel’s Mithril Capital invests $45M in InMobi Group’s Glance
By Pankaj Singh

Artificial Intelligence (AI) is being hailed as the backbone for a number of groundbreaking smartphone applications. App developers around the world are focusing on introducing AI-driven platforms to boost their product offering in regional as well a...