News Corp acquires their stake in YES Network

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We heard about this last week, but now it’s official and now we know how big a stake:

News Corporation said Tuesday it was acquiring a 49 percent stake in the Yes Network, the New York Yankees’ regional cable sports channel. Yankee Global Enterprises, Goldman Sachs and other investors will reduce their ownership as part of the transaction.

News Corp gets an option to buy up to an 80 percent stake in the network.  If that were to happen the Steinbrenner family and the Yankees, obviously, would be a lot more like every other team which receives rights payments from a broadcaster rather than having one side of the house pay the other. Which makes this more interesting:

The Yankees also committed to stay on Yes Network through 2042, subject to approval of the deal from Major League Baseball.

Huh. You have to assume that there is some sort of mechanism to automatically keep those TV rights at the top of the market, because locking in to some sort of relationship for the next thirty years would, quite obviously, hurt the Yankees’ ability to get top value for broadcast rights from the presumably then third-party YES Network.

Yankees acquire A.J. Cole from the Nats

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The New York Yankees have acquired reliever A.J. Cole from the Washington Nationals for cash considerations.

Cole was supposed to be the Nats’ fifth starter this year but that didn’t work out too well. He pitched in four games for the Nats, starting two, to the tune of a 13.06 ERA, having given up six home runs in 10.1 innings. That’s . . . something.

Don’t get too used to Cole on the New York roster, as this seems like one of those “give us an arm” for a couple of days deals, after which Cole will be DFA’d and will either accept an assignment to Scranton or be cut loose. Such is life at the fringes for a guy who is out of minor league options.