The New York Yankees are moving forward with plans to buy back the YES Network, the regional sports network that was sold to 21st Century Fox Inc. four years ago, according to a person familiar with the matter.
The Yankees have relayed their intentions to both Fox and Walt Disney Co., which is poised to acquire most of Fox in a $71 billion deal, said the person, who was asked not to be identified because the discussions are private. The Major League Baseball team has lined up financing from several strategic investors, said the person, without offering specifics.
The Yankees, which retained 20 percent of YES after Fox deal in 2014, declined to comment. Fox also declined to comment, while Disney didn't immediately respond to a request for comment.