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.

Report: Mets showing interest in Bartolo Colon

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Last month, free agent right-hander Bartolo Colon told reporters that he’d be open to taking a minor league deal in 2018, but only if he was guaranteed a return to the Mets’ system. The 44-year-old starter is nearing the end of a 20-year career, and it makes sense that he’d want to have one last hurrah in the city where he had some of his most productive years.

Now, Twins starter Ervin Santana tells Mike Berardino of the Pioneer Press, it looks like the Mets might also be open to a reunion. It’s doubtful that Colon has all that much left in the tank, especially following a combined 7-14 record and 6.48 ERA for the Braves and Twins last year, but he’s not necessarily looking to reproduce the 15+ win, sub-4.00 ERA totals of years past.

Instead, Santana says, Colon is seeking the opportunity to win just six more games. He’ll enter the 2018 season five wins shy of the all-time record for a Latin American-born player, and is hoping to claim that title for himself before he enters retirement in 2019. Former Orioles and Expos hurler Dennis Martinez currently holds the record after clinching his 245th win back in 1998. While it took Colon a full season of starts to come up with even seven wins in 2017, he’s only one year removed from a 15-win campaign in 2016. Provided that the Mets are willing to gamble on him again, the milestone may not be that far out of reach.