Friday 27 June 2025
Combination of RTL Deutschland and Sky Deutschland (Germany, Austria, Switzerland) to create a unique proposition in entertainment, sports and news across free TV, pay TV and streaming
11.5 million paying subscribers across RTL , Sky and WOW
Diversification of RTL Group's revenue streams across subscription, distribution and advertising
250 million in expected annual synergies within three years after closing
150 million upfront purchase price, with additional variable consideration linked to future value creation
RTL Group today announced that it has signed a definitive agreement to acquire Sky Deutschland (DACH). The transaction brings together two of the most recognisable media brands in the DACH region, creating a future-ready entertainment business with around 11.5 million paying subscribers.
Together, the business is well-positioned to meet evolving consumer demands and compete with global streamers. The transaction combines Sky's premium sports rights - including Bundesliga, DFB-Pokal, Premier League and Formula 1 - with RTL's leading entertainment and news brands across RTL , free-to-air and pay TV. It also unites the fastest growing streaming offers in the German market, RTL and WOW.
The transaction, which has been approved by the Board of Directors of RTL Group, is subject to regulatory approvals.
Thomas Rabe, CEO of RTL Group, said: The combination of RTL and Sky is transformational for RTL Group. It will bring together two of the most powerful entertainment and sports brands in Europe and create a unique video proposition across free TV, pay TV and streaming. It will boost our streaming business, with a total of around 11.5 million paying subscribers, further diversify our revenue streams and make us even more attractive for creative talent, rights holders and business partners. The synergies are estimated to be around 250 million per annum within three years after closing, creating significant shareholder value. Together, RTL and Sky will be in an even stronger position to invest in people, content and technology in Germany and in Europe to compete with the global tech and streaming players. I want to recognise the outstanding work of the Sky Deutschland team, whose strong performance over recent years has laid the foundation for this next phase.
Dana Strong, Group CEO at Sky, said: Sky Deutschland has made significant progress over the past three years, delivering strong operational performance and reaching a record number of customers. 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.
According to the agreement, RTL Group will fully acquire Sky's businesses in Germany, Austria, Switzerland, including customer relationships in Luxembourg, Liechtenstein and South Tyrol on a cash-free and debt-free basis. The purchase price consists of 150 million in cash and a variable consideration linked to RTL Group's share price performance. The variable consideration can be triggered by Comcast, Sky's parent company, at any time within five years after closing, provided that RTL Group's share price exceeds 41. The variable consideration is capped at 70 per share or 377 million. RTL Group has the right to settle the variable consideration in RTL Group shares or cash or a combination of both. RTL Group is considering buying treasury shares to be in a position to settle the variable consideration fully or partly in shares.
The combined business will offer a broader and more compelling German-language content portfolio for consumers across the DACH region. Viewers will benefit from expanded access to premium live sports, entertainment and news across RTL , Sky, WOW and RTL's free-to-air channels. By bringing together the strengths of RTL and Sky, the combined company will be able to compete against global streaming platforms.
The transaction is expected to generate 250 million in annual synergies within three years, mostly cost synergies across all categories.
Under a separate trademark license agreement, RTL will have the right to use the Sky brand in the DACH region (Germany, Austria, Switzerland), Luxembourg, Liechtenstein and South Tyrol. RTL will acquire Sky Deutschland's streaming brand WOW as part of the transaction.
Barny Mills, Sky Deutschland CEO, will continue to lead the Sky Deutschland business until the transaction is completed. Stephan Schmitter will stay in his current role as CEO of RTL Deutschland until closing of the transaction and then lead the combined company. RTL Deutschland will remain headquartered in Cologne and Sky Deutschland in Munich.
The pro-forma revenue 2024 of the combined company was 4.6 billion, with approximately 45 per cent of the total revenue coming from subscription-based revenue. [1] RTL Group's pro-forma revenue for 2024 was 8.2 billion [2], more than 30 per cent higher than RTL Group's reported consolidated revenue for 2024 ( 6.25 billion). The acquisition of Sky Deutschland is the largest transaction for RTL Group since its inception in 2000.
The two businesses will continue to operate independently until regulatory approvals
are obtained, which are expected in 2026.
PJT Partners served as advisor to Comcast on this transaction.
[1] Pro-forma unaudited
[2] Pro-forma unaudited: RTL Group continuing operations incl. Sky Deutschland
All documents are available to download at: https://company.rtl.com/en/media/overview/press-releases-and-news/rtl-group-to-acquire-sky-deutschland/
RTL Group
Oliver Fahlbusch
352 2486 5200
Oliver.Fahlbusch@rtl.com
Sky Gr
Most recent headlines
06/10/2025
France T l visions, France's leading broadcaster, has received the 2025 EBU ...
04/09/2025
Monumental Sports & Entertainment (MSE), in collaboration with Dalet, has been a...
07/08/2025
July 8 2025, 22:30 (PDT) Tata Motors & Dolby Bring Dolby Atmos to Harrier.ev, R...
15/07/2025
SHENZHEN, China Telycam has added control options for its portfolio of pan-tilt-zoom (PTZ) cameras with a new plug-in for Elgato's Stream Deck family of con...
15/07/2025
MELVILLE, N.Y. Chyron said its Chyron LIVE cloud-native live production solution has successfully completed the Amazon Web Services (AWS) Foundational Technical...
15/07/2025
PHILADELPHIA The Xumo streaming platform joint venture between Comcast and Charter has announced the nationwide launch of a new line of Xumo TVs from Westinghou...
15/07/2025
LONGMONT, Colo. DPA Microphones said Chris Kontopanos has joined the microphone solutions provider as its new regional sales manager, Mid-Atlantic....
15/07/2025
NOT FOR DISTRIBUTION IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN THE UNIT...
14/07/2025
The Royal Moroccan Air Force hosted a C-130 award ceremony with L3Harris Technologies President of Intelligence, Surveillance and Reconnaissance Jason Lambert a...
14/07/2025
UK launch set for September, following on from recent US and Germany releases
London - UK, July 14, 2025 - Nielsen, a global leader in audience measurement, da...
14/07/2025
SHENZHEN, China Telycam has added control options for its portfolio of pan-tilt-zoom (PTZ) cameras with a new plug-in for Elgato's Stream Deck family of con...
14/07/2025
The awards are open to IBC2025 show exhibitors and offer a valuable platform for companies to raise awareness for the new products and solutions they will be la...
14/07/2025
Clear-Com is excited to announce a significant expansion of the award-winning Arcadia Central Station with new software updates. Together, these releases dram...
14/07/2025
Grass Valley and Daktronics today announced a strategic technology partnership that unites Grass Valley's live production expertise with Daktronics' lea...
14/07/2025
Cloud playout solutions provider, Veset, and swXtch.io, provider of cloud-based multicast and reliable networking solutions, are partnering to deliver multicast...
14/07/2025
Tintri , a DDN subsidiary and leader in AI-powered data management solutions, today announces a game-changing and award-winning refresh to its global Partner P...
14/07/2025
HighField AI, the broadcast industry's first agentic and multimodal AI platform for automating graphics production, is now commercially available. Developed...
14/07/2025
Encompass Digital Media has today announced that it has been delivering a complex global services project for DAZN, the world s leading sports entertainment pla...
14/07/2025
MASV (massive.io), the fastest, most reliable large file transfer platform trusted by over 10,000 global organizations, announced today it will showcase its nex...
14/07/2025
Calrec is introducing a series of usability, customisation and system enhancements across the entire range of Argo consoles at IBC 2025, on Stand 8.C47. Look ou...
14/07/2025
Fincons Group, IT business consultancy and systems integrator company with more than 40 years of experience in the market, is proud to announce a new engagement...
14/07/2025
Stand 5.F45, IBC2025, Amsterdam, 12 15 September 2025 Intinor returns to IBC to present the latest updates to its Direkt series. A key development on show is ...
14/07/2025
This month, NVIDIA founder and CEO Jensen Huang promoted AI in both Washington, D.C. and Beijing - emphasizing the benefits that AI will bring to business and s...
14/07/2025
Sony's New Coach's Headset Was Designed in Collaboration With the NFL Featuring a custom dynamic boom mic, the headset will debut in the fall By Dan Da...
14/07/2025
Live From MLB All-Star 2025: MLB Network's Marc Caiafa and Tom Guidice on th...
14/07/2025
Back to All News
Netflix ISP Speed Index for June 2025
Product
14 July 2025
Global
Link copied to clipboard
One percent of Internet Service Providers (ISP...
14/07/2025
Back to All News
Netflix Begins Filming The Map of Longing With Al cia Falc , P...
14/07/2025
This July marks 100 days since I officially stepped into the role of CEO at Grass Valley, a milestone not of abrupt change, but of confident continuity.
Unlike...
14/07/2025
Enhancing Public Service Broadcasting with
Innovation, Accuracy & Sustainability
New regional detail and local towns featured...
13/07/2025
Back to All News
Netflix Expands B&B Universe' with Yu Jae Seok's B&B ...
13/07/2025
Live From MLB All-Star 2025: MLB Network Marks Five Straight Years of Onsite MLB...
12/07/2025
Ryan Coogler accepting the 2013 Vanguard Award. Photo by Alberto E. Rodriguez.
Editor's Note: In honor of Fruitvale Station s 12th anniversary, we're d...
12/07/2025
Key Code Education, the professional training division of Key Code Media, proudly announces a major update to its Adobe Premiere Pro Engineering and Advanced Op...
12/07/2025
Key Code Education, a leader in instructor-led post production training for over...
12/07/2025
As the death toll continues to mount, with at least 120 killed and more than 170 people still missing on July 10 from devastating Texas floods, a number of broa...
12/07/2025
EL SEGUNDO, Calif., and MIAMI -DirecTV and TelevisaUnivision have signed a deal that will make the ad-supported premium subscription tier of ViX, ViX Premium wi...
11/07/2025
PARK CITY, UTAH, July 11, 2025 - The nonprofit Sundance Institute announced today the 11 producers chosen for its annual Producers Labs, returning to Ucross Fou...
11/07/2025
If you've ever wondered what might be playing in Clark Kent's headphones...
11/07/2025
L3Harris Technologies President of Intelligence, Surveillance and Reconnaissance Jason Lambert and General Manager of L3Harris Waco facility Sean Ling held a ce...
11/07/2025
ARLINGTON, Va. WETA, the flagship public media station in the national capital area, has launched WETA+, a new streaming service tailored for the local Washingt...
11/07/2025
The Federal Communications Commission has emerged as one of the central players in the broadcast TV landscape in 2025, with its deregulatory policies sparking h...
11/07/2025
Calrec will introduce usability, customization and system enhancements across its entire range of Argo consoles during IBC2025, Sept. 12-15, at the RAI Amsterda...
11/07/2025
LONDON Encompass Digital Media said it will support live and on-demand viewing of the 2025 FIFA Club World Cup across multiple global regions for sports enterta...
11/07/2025
Two-thirds of broadcast engineers reaped the benefits of a pay raise within the last year....
11/07/2025
CARY, N.C. SmallHD has launched the Quantum 27, a new 26.5-inch Quantum-Dot OLED monitor designed to deliver postproduction image quality in a compact, set-frie...
11/07/2025
The Federal Communications Commission's Enforcement Bureau and Tegna have entered into a consent decree that will settle an investigation into the accidenta...
11/07/2025
WASHINGTON Following news in early July that Paramount had settled President Donald Trump's lawsuit, Sens. Edward J. Markey (D-Mass.) and Ben Ray Luj n (D-N...
11/07/2025
Model/Actriz Performs Lead Single Cinderella on The Late Show with Stephen Colbe...
11/07/2025
Behind the Mic: Amazon Prime Preps for First Season of NBA Action; MSG Networks ...
Friday 27 June 2025
