21st Century Fox has confirmed a deal to increase its stake in Yes Network, meaning they now have a controlling 80% stake in the sports broadcaster.
In sealing the deal, 21st Century Fox exercised an option to increase its existing 49% stake in the broadcaster, which shows games for the New York Yankees and Brooklyn Nets. The original deal, which was drawn up in 2012 included the option to increase its stake in 2015.
The remaining 20% will be retained by the Yankees.
Tags: YES Network