RTL takeover of Sky Deutschland
German broadcaster RTL Group has agreed a €150m (£128m) with Comcast to buy Sky Deutschland, subject to regulatory approval.
US-owned Comcast has been looking to offload the German arm of Sky, which also operates in Austria and Switzerland, for some time as it has yet to register a profit.
Under the terms of the deal, RTL will retain use of the Sky brand in the affected territories and will pay Comcast a further amount at some point in the next five years based on the share price at the time Comcast chooses to pull the trigger.
Taking RTL’s RTL+ and Sky’s WOW streaming services together, the combined entity will boast 11.5 million pay subscribers in Germany, ahead of Disney+ but behind Netflix and Prime Video.
“Sky Deutschland has made significant progress over the past three years, delivering strong operational performance and reaching a record number of customers,” said Dana Strong, Group CEO at Sky.
“The business is on track to achieve EBITDA break-even, reflecting the success of our turnaround plan. Combining the strength of our brand with RTL builds on that momentum and opens up even greater opportunities.
“This deal provides a strong platform for long-term success, and ensures Sky continues to share in the growth of the combined business.”
The two broadcasters will continue to operate independently until regulatory approval is granted, which is expected at some point in 2026.
