Amazon said to be in talks to buy most of YES network
Usually The Bronx and Queens don’t get along when it comes to baseball, but that could all change.
The New York Yankees and Amazon are in talks about forming a strategic partnership to fund and operate the YES cable network, sources tell The Post.
The Bronx Bombers are looking at Long Island City’s newest import, Jeff Bezos, to help support its bid for the YES cable network, which could be for more than $4 billion, The Post has learned.
The talks come about as Walt Disney is selling YES, and 21 other regional sports cable networks to clear its $71.3 billion acquisition of Fox with regulators.
The Yankees own 20 percent of YES and have the right to buy the rest of the cable network from Fox without going through a competitive auction, sources said.
An arbitrator would determine the fair market value, they added.
CNBC reported Tuesday that the Yankees and Amazon were bidding for Fox’s 22 regional sports networks.
That is not completely true.
Amazon and the Yankees are only partnering on a purchase of YES, and Amazon may not be interested in the rest of the RSNs.
“I think Amazon is primarily interested in YES,” the source said.
So the Yankees, who are not interested in putting in any more equity — rather than just rolling over its 20 percent stake — want a strategic partner who can produce sharp telecasts to finance the rest, the source said.
“The team’s interest is in making sure fans get well-produced games,” the source close to the situation said.
Amazon could stream YES games on Prime Video, which could fundamentally change the sports media business, a source close to the situation said.
“I am sure Amazon has a long-term view of where this is all headed,” the source said.
Amazon, in a recent earnings report, said, “We debuted NFL Thursday Night Football on Prime Video, with more than 18 million total viewers over 11 games.”
Meanwhile, there’s one broadcaster interested in buying the remaining 21 regional sports networks who has found financing.
Sinclair Broadcasting, the largest local television station owner, is partnering with private equity firm CVC Capital Partners to bid on the rest of the package in what could be a roughly $13 billion deal, two sources close to the situation said.
Fox is also said to consider bidding to get back its RSNs and place them in its newly listed company that will be spun off to shareholders after the Disney sale, sources said.
Disney needs to sell the sports networks because it owns ESPN, and owning it and the sports networks would be anti-competitive.
Amazon, Comcast, CVC and Fox declined comment. The Yankees and Sinclair did not return calls.