Professional baseball team New York Yankees is considering teaming up with Amazon.com Inc. and Sinclair Broadcast Group Inc. to submit a joint bid for the team's regional sports network YES Network (US), The Wall Street Journal reported Dec. 28, citing people with knowledge of the matter.
The Yankees, which own 20% of YES, have also reportedly talked to Altice USA Inc. about a joint bid. Private equity firm RedBird Capital Partners LLC is working with the Yankees and has been in talks with the Ontario Teachers' Pension Plan and Abu Dhabi state fund Mubadala Investment Co. about investing in YES, a person familiar with the matter said.
Disney, which is required to divest 22 regional sports networks as a condition of its acquisition of various assets owned by 21st Century Fox Inc., is seeking a valuation of $5 billion to $6 billion for YES Network, according to the report.
Executives close to the situation said the talks with Amazon and Sinclair are still at an early stage and could go either way.
According to a report in October, Sinclair CEO Christopher Ripley has expressed interest in buying all 22 RSNs.