M&A wrap: NY Yankees, Sinclair, Amazon, YES Network, FedEx, TA

Founded in Taiwan, Gong cha is a specialty tea franchisor, operating nearly 2,200 stores across 33 international markets.

Smaller RIA owners increasingly want a larger share of the value sponsors expect to create after closing.

Too many founders build their buyer lists around familiar names. Expanding the search beyond industry peers can lead to stronger valuations, better terms, and more competitive sale processes.