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FOX owns 49% equity stake from YES Network

FOX News Corporation recently purchased a 49% equity stake from YES Network. To further explain what that means, here’s the article from LoHud Yankees:

News Corporation has an agreement to acquire a 49 percent equity stake in the YES Network. After three years, News Corporation can acquire a stake that takes it to 80 percent. People, of course, are wondering if these FOX people will try to buy the Yankees from the Steinbrenners down the road.

YES also now has a rights agreement to carry Yankees games through 2042.

Here’s a statement from Hal Steinbrenner:

“This transaction underscores the great value we and our partners created in establishing the YES Network and sets the network on the path for even greater achievements in the future.  We are excited to have News Corporation as a partner.  Its stature and acumen in sports broadcasting on a global scale is unmatched.  We look forward to the many opportunities for growth and development that this investment by News Corporation will bring to YES.  The Steinbrenner family expects to have a continuing, long-term ownership stake in the YES Network and we will continue our yearly commitment of fielding a championship caliber team for decades to come.”

Morning Bits: Rodriguez, Pettitte, Hughes, Rivera, YES Network

Good morning Yankees fans. Yankees bats need to wake up and start a winning streak. They don’t want to be in 4th place forever. Anyway, Phil Hughes gets the start for the series finale. First pitch is at 2:10pm. Now, onto the morning links!

— Joe Girardi has been DH’ing Alex Rodriguez a lot, but while A-Rod is rested, he isn’t hitting!

— If Andy Pettitte was to come to the big leagues today, he could easily fit into Phil Hughes’s rotation spot. Why I say that you ask? They both are pitching today in different parts of the country.

— YES Network could drop in ratings–all because Mariano Rivera isn’t there to close the games.

Morning Bits: Mitchell, Garcia, Swisher, Ibanez, YES

Good morning all.  I’m escaping for a long weekend away after work so an early enjoy the weekend to you.  Let’s get right to the links….

* Small ESPN article showing love to my favorite pitching prospect D.J. Mitchell.  Anyone else on the Mitchell bandwagon with me?  I saw him pitch in Scranton last year and was completely amazed by how quickly he works.

* Garcia took a comeback of his hand yesterday X-rays are negative so that’s good.

* Swisher is in his best shape and expects results reports

* Slow start Ibanez is not worried just yet.

* The Yes Network is turning 10 Years old?  Not sure about you but my cable didn’t carry it when it first came out.

Kim Jones Will Leave YES Network

Kim Jones Will Leave YES Network

By Delia E.

According to the New York Post, Kim Jones will leave YES after turning down multiple contracts from the Yankees network. Jones had worked with the New York Yankees since 2005. According to sources, the split was amicable.

A YES Network spokesman said they are looking at options on how to continue without Jones. They are not sure if they will hire a replacement or offer a bigger role to Jack Curry.