Media company 21st Century Fox has confirmed a deal to increase its stake in US regional pay-television sports broadcaster Yes Network to a controlling 80-per-cent stake.
In sealing the transaction, 21st Century Fox exercised an option to increase its stake from 49 per cent in the broadcaster, which shows games featuring Major League Baseball team the New York Yankees and National Basketball Association team the Brooklyn Nets. The original deal, drawn up in 2012, included the option for 21st Century Fox to increase its stake in 2015.
The remaining 20-per-cent stake is held by the Yankees.
The channel is available in New York, Connecticut, New Jersey and parts of Pennsylvania, as well as on a national basis on several cable and satellite television distributors.