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RTL to Acquire Sky Deutschland to Form European Streaming Champion

A €150 million cash payment plus performance-based earn-outs underpins the agreement, which is pending regulatory approval.

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Overview

  • RTL Group signed a binding agreement on June 27 to buy Sky Deutschland’s operations in Germany, Austria, Switzerland, Luxembourg and South Tyrol from Comcast
  • The deal commits €150 million in upfront cash and includes a performance-based earn-out of up to €377 million tied to RTL’s share price over the next five years
  • The combined entity will serve about 11.5 million subscribers across linear TV and streaming platforms when the transaction closes in 2026
  • Stephan Schmitter, CEO of RTL Deutschland, is slated to lead the merged company once competition and media regulators grant their approval
  • RTL forecasts roughly €250 million in annual cost synergies within three years as it aims to challenge US rivals such as Netflix and Amazon Prime