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August 3, 2007
The dismantling of the Yankee empire
Fortune CNN Money
The Dolan family's Cablevision is a possible bidder for the YES Network, the television broadcast home of the NJ Nets. The Dolans also own Madison Square Garden, the NY Knicks and Rangers and financed a multi-million-dollar publicity campaign which helped to successfully block the West Side Stadium.
The New York Yankees' cable network, the YES Network, is for sale, Fortune has learned. And some baseball insiders and Yankees limited partners are wondering whether the team itself might be next.
The highest-rated regional sports network in the country and the cable home of the Yankees and the NBA New Jersey Nets, YES is jointly owned by the Yankees, investment bank Goldman Sachs & Co. (Charts, Fortune 500) , and former Nets owner Ray Chambers. Goldman and Chambers would like to cash out, YES and Yankees insiders say, and one source says to expect a deal by summer's end. Some possible bidders: Cablevision, Comcast (Charts), News Corp. (Charts, Fortune 500) and Verizon (Charts, Fortune 500).
Posted by lumi at August 3, 2007 9:00 AM