On Friday, 21st Century Fox announced a deal to raise its ownership of the Yankees Sports and Entertainment Network to 80 percent from 49 percent, roughly two years ahead of schedule.
“Our investment in the YES Network underscores our commitment to growing our global sports portfolio with offerings that are exceptional and unique,” James Murdoch, deputy chief operating officer/boss’s son at 21st Century Fox, said in a statement.
The deal, pending regulatory approval, is expected to close by the end of the first calendar quarter. Yankee Global Enterprises will hold on to the remaining 20 percent stake.
So, why did this deal come early?