NEW YORK -- The Yankees have reacquired the YES Network, partnering with Sinclair Broadcast Group and Amazon to purchase the 80 percent of the network that had been owned by The Walt Disney Company.

The deal values the network at $3.47 billion.

Additional equity investments were provided by RedBird Capital, funds managed by Blackstone's Tactical Opportunities business, and Mubadala Capital.

"This transaction brings the YES Network and all of its popular programming even closer to the organization that inspired its very development," said Hal Steinbrenner, CEO, Yankee Global Enterprises. "Along with our partners, we look forward to greatly expanding the way that sports content is delivered and consumed by fans everywhere."

The YES Network is the country's most-watched regional sports network, broadcasting games, programs and specialty content for the New York Yankees, the NBA's Brooklyn Nets, Major League Soccer's New York City FC, and the WNBA's New York Liberty.

Since its launch in 2002, the YES Network has earned 118 Emmy Awards and consistently has been ranked as one of the most valuable sports business brands in the world.

According to a press release announcing the deal, the new strategic partnership leverages the expertise and market reach of three highly successful companies -- Yankee Global Enterprises, Sinclair Broadcast Group and Amazon -- which will work together to enhance the network and position it strategically to continue its leadership in sports broadcasting across all forms of distribution. Jon Litner will remain in his existing role as president of the YES Network.

"Throughout its nearly two decades on air, the YES Network has set the gold standard for regional sports coverage," said Randy Levine, president of the New York Yankees. "We look forward to working with our strategic partners and our investors -- RedBird Capital, Blackstone and Mubadala Capital -- to expand the network in innovative and exciting ways."

"There are very few sports brands in the world as great as the New York Yankees that offer impressive reach and recognition," said Chris Ripley, president and CEO of Sinclair Broadcast Group. "We look forward to working with our partners to develop and deliver top-notch play action and sports programming for the fans."