Overview

• RTL Group will pay an initial €150 million in cash for Sky Deutschland, with potential earn-out payments up to €377 million tied to RTL’s share performance.
• The acquisition covers Sky’s operations in Germany, Austria, Switzerland, Luxembourg and South Tyrol under a debt-free purchase agreement with Comcast.
• By combining RTL+, Sky and WOW, the new entity will reach about 11.5 million paying subscribers, positioning it as a more formidable rival to Netflix and Amazon Prime.
• As RTL’s largest transaction since its 2000 founding, the deal is projected to deliver €250 million in synergies within three years of closing.
• Stephan Schmitter is set to lead the merged business, which will blend RTL’s entertainment lineup with Sky’s sports rights, such as Bundesliga and Formula 1.