Report: Yankees' TV Network For Sale

The cable network of the New York Yankees — and possibly the team itself — is up for sale, Fortune magazine reported.

YES network, the highest-rated regional sports network in the United States, is jointly owned by the Yankees, investment bank Goldman Sachs & Co, and Ray Chambers, who once owned the New Jersey Nets (whose games are also aired on YES.)

Goldman and Chambers would like to cash out, YES and Yankees insiders told Fortune, and listed Cablevision, Comast, News Corp. (parent company of the New York Post) and Verizon as potential bidders.

Officials denied that YES is up for sale.

"Absolutely not," Yankees President Randy Levine told Fortune writers Jon Birger and Tim Arango.

However, Gerry Cardinale, a managing director at Goldman and YES board member, acknowledged that they were "testing the waters."

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