The Walt Disney Company Sells Its Interest in the YES Network to Investor Group Including Yankee Global Enterprises & Sinclai...
August 29 2019 - 4:15PM
Business Wire
The Walt Disney Company (NYSE: DIS) (“Disney”) today announced
that it has sold its equity interest in the YES Network (“YES”) to
a newly formed investor group that includes Yankee Global
Enterprises (the “Yankees”) and Sinclair Broadcast Group (Nasdaq:
SBGI) (“Sinclair”), among others. The group acquired the 80 percent
of the YES Network not already held by the Yankees at a total
enterprise value of $3.47 billion.
The transaction received the approval of the U.S. Department of
Justice. Last year, Disney and Twenty-First Century Fox, Inc.
(“21st Century Fox”) entered into a consent decree with the
Department of Justice that allowed Disney’s acquisition of 21st
Century Fox to proceed while requiring the subsequent sale of 21st
Century Fox’s interests in 22 regional sports networks (“RSNs”),
including the YES Network. On August 23, Sinclair completed its
acquisition of 21 of the RSNs from Disney, excluding the YES
Network.
About The Walt Disney
Company
The Walt Disney Company, together with its subsidiaries, is a
diversified worldwide entertainment company with operations in four
business segments: Media Networks; Studio Entertainment; Parks,
Experiences and Products; and Direct-to-Consumer and International.
Disney is a Dow 30 company and had annual revenues of $59.4 billion
in its Fiscal Year 2018.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20190829005683/en/
Media Contacts: Zenia Mucha zenia.mucha@disney.com (818)
560-5300
David Jefferson david.j.jefferson@disney.com (818) 560-4832
Investor Contact: Lowell Singer lowell.singer@disney.com
(818) 560-6601
Walt Disney (NYSE:DIS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Walt Disney (NYSE:DIS)
Historical Stock Chart
From Apr 2023 to Apr 2024