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Mubadala Investment eyes acquiring stake in Yankees sports TV network

Mubadala Investment eyes acquiring stake in Yankees sports TV network

Abu Dhabi - Mubasher: Abu Dhabi state fund Mubadala Investment Company is seeking to team up with the New York Yankees to help the American professional baseball team take control of its Yankees sports TV network.

The Yankees are also in conversation with potential strategic partners, including Amazon.com and Ontario Teachers’ Pension Plan, to provide digital streaming services and participate financially in the deal for the YES Network, people familiar with the matter told Bloomberg News on Thursday.

The Yankees and their partners are looking to buy 21st Century Fox’s majority stake in YES, taken over four in 2015.

The US baseball team and Fox are in discussions about the fair-market value of the YES Network. The Yankees had the right to buy back YES in the event Fox offer it for sale.

Disney, which is acquiring Twenty-First Century Fox Inc’s film and television assets, had said it would exit from 22 of Fox’s regional sports networks as part of its agreement with the US Department of Justice.

The value of the bids was not mentioned. Sources previously told Reuters that these networks could be worth as much as $20 billion.