M&A Deal Summary

Mubadala Capital, RedBird Capital Partners, Yankee Global Enterprises and Sinclair Broadcast Group Acquires Yankees Entertainment & Sports Network

On August 29, 2019, private equity firm Mubadala Capital, private equity firm RedBird Capital Partners, Yankee Global Enterprises LLC and Sinclair Broadcast Group, Inc. acquired media company Yankees Entertainment & Sports Network LLC from Providence Equity Partners, News Corp., Twenty-First Century Fox, Inc. and Yankee Global Enterprises LLC for 3.5B USD

Acquisition Highlights
  • This is Mubadala Capital’s 1st, RedBird Capital Partners’ 2nd, Yankee Global Enterprises’ 2nd and Sinclair Broadcast Group’s 8th transaction in the Media sector.
  • This is Mubadala Capital’s 1st, RedBird Capital Partners’ 1st, Yankee Global Enterprises’ 1st and Sinclair Broadcast Group’s 2nd largest (disclosed) transaction.
  • This is Mubadala Capital’s 1st, RedBird Capital Partners’ 18th, Yankee Global Enterprises’ 2nd and Sinclair Broadcast Group’s 11th transaction in the United States.
  • This is Mubadala Capital’s 1st, RedBird Capital Partners’ 4th, Yankee Global Enterprises’ 2nd and Sinclair Broadcast Group’s 2nd transaction in New York.

Target

Yankees Entertainment & Sports Network LLC

New York, New York, United States
website
The YES Network is a 24/7 sports and entertainment television network featuring the New York Yankees. YES also broadcasts the New Jersey Nets and other professional and collegiate sports teams as well as classic sports footage and sports-related content. The YES Network was established in 2002 and is based in New York City.

Search 167,785 Deals Now

SEARCH BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Try For Free 7-Day Free Trial

Buyer(S) 4

Buyer

Mubadala Capital

Investor

website


Category Private Equity Firm
Founded 2008
SizeSmall
Type Sector Agnostic
DESCRIPTION


DEAL STATS #
Overall 4 of 10
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 5
Year (2019) 1 of 2
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-04-08 Compañía Española de Petróleos, S.A.U.

Madrid, Spain

CEPSA is a Spanish multinational oil and gas company. CEPSA is engaged in petroleum and natural gas exploration and production, with interest in several blocks across four countries: Spain, Algeria, Colombia, and Peru.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-14 Hyperoptic Ltd.

London, United Kingdom

Hyperoptic is the largest residential gigabit broadband provider that delivers the nation’s fastest broadband speeds of up to 1Gbps (1,000 megabits per second), which is over 18x faster than the UK average. Hyperoptic was founded in 2011 and is based in London, United Kingdom.

Sell -
Buyer

RedBird Capital Partners

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 2013
PE ASSETS 5.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

RedBird Capital Partners is a private equity firm focused on investing in growth-oriented companies in the communications infrastructure, business services, financial services, energy services, sports/leisure/hospitality, industrial services, and media/entertainment sectors. RedBird looks to commit $25 to $150 million per transaction and will consider opportunities throughout North America. The Firm has a particular interest in businesses at an inflection point with proven business models, management, and little debt. RedBird Capital Partners was formed in 2013 and is based in Dallas, Texas.


DEAL STATS #
Overall 19 of 25
Sector (Media) 2 of 4
Type (Divestiture) 5 of 5
State (New York) 4 of 4
Country (United States) 18 of 22
Year (2019) 4 of 6
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-07-15 Vida Capital, Inc.

Austin, Texas, United States

Vida Capital is an alternative asset management platform specializing in non-correlated investment strategies. Vida specializes in structuring, servicing, financing, and management of life settlements, asset-backed loans, annuities, and structured settlements. Vida Capital was founded in 2009 and is based in Austin, Texas.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-11-05 Skydance Productions LLC

Santa Monica, California, United States

Skydance Media is a diversified media company provides elevated, event-level entertainment for global audiences. Skydance produces content across its feature film, television, interactive and animation divisions. Skydance Media was established in 2010 and is based in Santa Monica, California.

Buy -
Buyer

Yankee Global Enterprises LLC

Morristown, New Jersey, United States

Category Company
Founded 1999
SectorMedia
DESCRIPTION

Yankee Global Enterprises LLC, a mass media company.


DEAL STATS #
Overall 2 of 2
Sector (Media) 2 of 2
Type (Divestiture) 1 of 1
State (New York) 2 of 2
Country (United States) 2 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-20 Yankees Entertainment & Sports Network LLC

New York, New York, United States

The YES Network is a 24/7 sports and entertainment television network featuring the New York Yankees. YES also broadcasts the New Jersey Nets and other professional and collegiate sports teams as well as classic sports footage and sports-related content. The YES Network was established in 2002 and is based in New York City.

Buy -
Buyer

Sinclair Broadcast Group, Inc.

Hunt Valley, Maryland, United States

website


Category Company
Founded 1986
SectorMedia
Employees11,600
Revenue 5.9B USD (2020)
DESCRIPTION

Sinclair Broadcast Group a television broadcasting company, owns or provides programming, operating, or sales services to television stations in the United States. Sinclair Broadcast Group was founded in 1986 and is based in Hunt Valley, Maryland.


DEAL STATS #
Overall 11 of 11
Sector (Media) 8 of 8
Type (Divestiture) 3 of 3
State (New York) 2 of 2
Country (United States) 11 of 11
Year (2019) 2 of 2
Size (of disclosed) 2 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-05-03 The Walt Disney Company - 21 Regional Sports Networks & Fox College Sports

Burbank, California, United States

The Walt Disney Company - 21 Regional Sports Networks & Fox College Sports is the largest collection of RSNs in the marketplace today, with an extensive footprint that includes exclusive local rights to 42 professional teams consisting of 14 Major League Baseball (MLB) teams, 16 National Basketball Association (NBA) teams, and 12 National Hockey League (NHL) teams.

Buy $10.6B

Seller(S) 4

SELLER

Providence Equity Partners

Providence, Rhode Island, United States

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1989
PE ASSETS 57.0B USD
SizeMega
Type Sector Agnostic
DESCRIPTION

Providence Equity Partners is a specialist private equity firm that targets investments in media, entertainment, communications, and information companies. Specifically, Providence seeks investments in wireless and wireline telephony, cable television content and distribution, music, film, publishing, radio and television broadcasting, and other media and communications sectors. Providence Equity looks to commit $150 million to $800 million of equity capital in transactions ranging from growth financings and recapitalizations, to buyouts and take-privates. Providence Equity Partners was formed in 1989 and has offices in Providence, Rhode Island; New York, New York; Los Angeles, California; London, United Kingdom; Hong Kong, China; and New Delhi, India.


DEAL STATS #
Overall 71 of 89
Sector (Media) 17 of 18
Type (Divestiture) 5 of 5
State (New York) 7 of 9
Country (United States) 48 of 63
Year (2019) 4 of 6
Size (of disclosed) 7 of 35
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-08-02 OEConnection LLC

Richfield, Ohio, United States

OEC is a global automotive technology provider for OEM distribution networks. OEC's suite of eCommerce, pricing, supply chain, service, business intelligence, parts cataloging, data solutions, and services helps automakers and their dealer networks sell more OE parts in the collision, fleet, mechanical and retail segments, as well as dealers’ own service lanes. OEC serves more than 30,000 auto dealers globally, 36 global OEM brands and more than 135,000 global auto repairers.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-09 MAPAL Software

Madrid, Spain

MAPAL Software is a developer and supplier of management and business analytics software for the restaurant and retail sectors. MAPAL Software was founded in 2008 and is based in Madrid, Spain.

Buy -
SELLER

News Corp.

New York, New York, United States

website


Category Company
Founded 1979
SectorMedia
Employees24,000
Revenue 9.4B USD (2021)
DESCRIPTION

News is a diversified international media and entertainment company with operations in eight industry segments: filmed entertainment; television; cable network programming; direct broadcast satellite television; magazines and inserts; newspapers; book publishing; and other. The activities of News Corporation are conducted principally in the United States, Continental Europe, the United Kingdom, Australia, Asia and the Pacific Basin. News was formed in 1979 and is based in New York City.


DEAL STATS #
Overall 9 of 10
Sector (Media) 1 of 1
Type (Divestiture) 5 of 6
State (New York) 2 of 3
Country (United States) 7 of 8
Year (2019) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-13 ballball.com

Singapore

ballball.com is one of the major football video platforms in South-East Asia. The platform distributes an unprecedented collection of short-form highlights from European and other top football leagues to the region generating 800 million video views during the 2017-18 football season.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-31 News America Marketing Properties LLC

New York, New York, United States

News America Marketing Properties LLC is a marketing services company that provides advertising and promotion programs to well-known brands, and its broad network of shopper media, incentive platforms and custom merchandising services influences the purchasing decisions of online and offline shoppers across the U.S. and Canada.

Sell -
SELLER

Twenty-First Century Fox, Inc.

New York, New York, United States

website


Category Company
Founded 1922
SectorMedia
Employees21,700
Revenue 29.0B USD (2015)
DESCRIPTION

Twenty-First Century Fox, Inc. is a premier portfolio of cable, broadcast, film, pay TV and satellite assets spanning six continents across the globe. Reaching nearly 1.5 billion subscribers in more than 100 local languages every day, 21st Century Fox is home to a global portfolio of cable and broadcasting networks and properties, including FOX, FX, FXX, FXM, FS1, Fox News Channel, Fox Business Network, Fox Sports, Fox Sports Network, National Geographic Channels, MundoFox, STAR, 28 local television stations in the U.S. and more than 300 channels that comprise Fox International Channels; film studio Twentieth Century Fox Film; and television production studios Twentieth Century Fox Television and Shine Group.


DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-02-17 True[X] Media, Inc.

Los Angeles, California, United States

True[X] Media, Inc., media delivers effective advertising for on-demand, interactive media. True[X] believe that ads should be enabling rather than interruptive, and have built the definitive engagement advertising system around our core product of true[ATTENTION], which delivers on the promise of “zero waste” advertising. true[X] media provides the best advertising experience for consumers, the best monetization for premium publishers and the best return for brand advertisers.

Buy $200M
SELLER

Yankee Global Enterprises LLC

Morristown, New Jersey, United States

Category Company
Founded 1999
SectorMedia
DESCRIPTION

Yankee Global Enterprises LLC, a mass media company.


DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Divestiture) 1 of 1
State (New York) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-11-20 Yankees Entertainment & Sports Network LLC

New York, New York, United States

The YES Network is a 24/7 sports and entertainment television network featuring the New York Yankees. YES also broadcasts the New Jersey Nets and other professional and collegiate sports teams as well as classic sports footage and sports-related content. The YES Network was established in 2002 and is based in New York City.

Buy -