The deal is expected to close Friday, the report said.
Under the deal, the Yankees, which currently own 20% of the network, would own the majority of it, with Amazon and Sinclair owning the next largest stakes.
Fox purchased 80% of the YES Network from the Yankees in 2014, valuing it at $3.9 billion.
Amazon shares were down 0.73% to $1,614 in premarket trading. Disney was down 0.27% to $113.70.
A Special Invitation:Do you want to learn more about planning for and living retirement from the nation's top experts, including Ed Slott and Robert Powell, the editor of TheStreet's Retirement Daily? Want to learn how to create tax-efficient income in retirement and how to manage and mitigate all the risks you'll face in retirement? Then sign up to attend TheStreet's Retirement Strategies Symposium on April 6 in New York City. For a limited time, you can attend this extraordinary symposium for $149 - a cost savings of $50 off the general admission price of $199.
You can see the full day's agenda, learn about the guest speakers and sign up HERE for this special event.