Herrick’s Representation of the New York Yankees in 21st Century Fox’s Majority Stake Acquisition in YES Network Comes to Successful Close
New York, March 3, 2014 – Herrick, Feinstein LLP is proud to announce the successful closing of 21st Century Fox's (NASDAQ: FOX, FOXA; ASX: FOX, FOXLV) acquisition of a majority stake in the Yankees Entertainment and Sports Network (YES Network). Herrick represented the New York Yankees and YGE YES Holdings LLC in the transaction which was announced at the end of January. The transaction effectively increases Fox's ownership of the YES Network to 80 percent. The remaining 20 percent stake will be held by YGE YES Holdings.
Herrick had represented the New York Yankees and YGE YES Holdings LLC in 21st Century Fox's 2012 acquisition of a 49 percent equity stake in the YES Network. The Herrick deal team was led by Irwin A. Kishner and included corporate partner Daniel A. Etna.
Herrick's Corporate Department has a track record of successes representing major clients across the country and around the world, including many Fortune 1000 firms. The firm's clients include financial institutions, private equity firms, venture capital firms, hedge funds, investment banks and private investors on a full range of matters.