In a significant reshuffling of the European TV industry, media titan RTL Group has sealed an agreement to purchase pay-TV corporation Sky Deutschland from Comcast.
The agreement involves an initial payment of 150 million euros ($176 million) along with a potential additional sum of up to 377 million euros ($442 million), contingent on RTL’s stock price surpassing 41 euros. Comcast has the ability to activate this extra component at any point within a five-year period.
If approved by regulators, the agreement between RTL parent Bertelsmann, announced on Friday, could cause a significant upheaval in the European TV and streaming industry. By merging Sky’s subscribers from Germany, Austria, and Switzerland with their own premium RTL+ service, the company would boast a streaming service that counts 11.5 million paying subscribers, moving them ahead of Disney to rank third among Germany’s streaming service providers, trailing only Netflix and Amazon Prime.
Thomas Rabe, CEO of Bertelsmann and RTL, described the agreement as a “game-changer” for their strategic plan aimed at developing “domestic media titans” capable of standing tall against the dominance of international streaming giants.
After completing this deal, Germany will regain its position as our primary market,” remarked Rabe. “Simultaneously, this purchase represents a stride towards fortifying European media sectors – a crucial move in countering the intense competition posed by international tech and streaming giants.
The acquisition grants RTL access to exclusive high-quality sports content from Sky, encompassing Bundesliga and Premier League football, Formula 1 racing, and their WOW streaming platform.
Last year, Sky Deutschland generated approximately 2 billion euros (2.34 billion USD) in annual earnings, yet it has never turned a profit. The upcoming debut of HBO Max in Germany is set to dislodge Sky as the sole provider of HBO content in German-speaking regions. It’s rumored that RTL may have reached out to Comcast regarding this deal. However, Comcast does not appear to be considering selling its other European ventures, which include operations in the U.K./Ireland and Italy.
In an attempt to expand nationally in France and the Netherlands, Rabe encountered resistance from competition authorities. A planned merger between RTL’s French network M6 and France’s top commercial broadcaster TF1 was abandoned by Bertelsmann in 2022 due to strong regulatory pushback. Last week, instead of partnering with RTL, TF1 decided to collaborate with Netflix, agreeing on a significant deal that allows for the streaming of all its TV channels on the platform.
In 2023, the antitrust authorities in the Netherlands declined RTL’s attempt to purchase the Dutch Talpa Network. Since then, Talpa has entered into a contract to sell its Dutch branch to DPG Media from Belgium, a transaction that is yet to receive regulatory clearance.
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2025-06-27 10:54