POWER AND ECONOMICS
Media ownership of sports franchises is a phenomenon that goes well back into the 20th century. CBS was broadcasting the baseball Game of the Week on Saturdays when the network bought the New York Yankees following the 1964 season. CBS owned the team for a year before the Game of the Week moved to NBC. During that year as a team owner, CBS had the opportunity to influence the sport it was televising, sharing in decisions with the other owners and in Major League Baseball revenues. CBS sold the Yankees to George Steinbrenner’s ownership consortium after the 1972 season.