News Corp May Say YES to Yankees' Network [VIDEO]

By DailyFinance  NOV 19, 2012 11:33 AM

Are Apple and GE now buys?

 


The New York Yankees may not be able to unload the contract of Alex Rodriguez, but the team is reportedly on the verge of selling a stake in YES, its regional TV network. News Corp (NASDAQ:NWSA) is looking to take a 49% interest in the most valuable regional sports network in the country for about $1.5 billion. The network is worth as much as, or more than, the Yankees franchise itself.

Some of the best performing stocks this year have taken the biggest hits over the past few weeks as investors worry about the fiscal cliff.  Apple (NASDAQ:AAPL) has tumbled 25% since its peak and General Electric (NYSE:GE) has lost 16%. But optimistic comments about a compromise agreement could halt the selling -- at least for this week. Some analysts say the recent selling provides a buying opportunity.

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