In another sign that TV sports rights are the hottest game around, News Corp. has agreed to buy a 49% stake in a regional network that provides local broadcasts of New York Yankees games.That last sentence is important, leading to this point:
News Corp. did not divulge financial details of the arrangement. However, analysts estimated the media giant controlled by Rupert Murdoch will pay roughly $1.47 billion for the stake in the YankeesEntertainment and Sports Network.
The YES network also agreed to an extension of a TV rights deal that will keep the Bronx Bombers' baseball games on the network through 2042 at substantially higher rates, which could bode well for the Dodgers, who are poised to negotiate a new TV rights deal.
“Now that this deal is complete, the next loudest cheers are probably coming from the Dodgers ownership,” Chase said. “It’s no secret that the Dodgers’ media rights deal is coming up for renewal next year, and you have Fox out there, and Time Warner Cable circling. This now sets the market for what these sports rights deals are worth."Over-priced pitching busts, here we come! Hell, with that kind of money we could even afford to sign Kevin Brown to do nothing at all. Or to build some more stadium urinals.