Lawyers from seven Am Law 200 firms have grabbed roles on News Corporation’s acquisition of a 49 percent stake in the YES Network that reportedly values the regional sports channel at roughly $3 billion.
While Rupert Murdoch’s media empire did not disclose how much it is paying to acquire nearly half of YES, the price tag was put at roughly $1.5 billion by The New York Times, which broke the news last week that the network was mulling a deal with News Corp., the world’s second-largest media conglomerate. As part of the deal, News Corp. has an option to increase its stake in YES, which broadcasts New York Yankees and Brooklyn Nets games, to 80 percent after three years.
