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Supply Chains

Munich, 27 June 2025 – RTL Deutschland has reached an agreement to acquire Sky Deutschland’s operations across Germany, Austria, Switzerland, Luxembourg, Liechtenstein, and South Tyrol from Comcast and Sky’s parent group for an upfront payment of €150 million, with an additional €377 million based on share performance.

Background

Two years ago at the Munich Film Festival, Sky Deutschland announced the closure of its scripted originals division, abruptly cancelling upcoming slate-launch events and laying off its originals team. Since then, speculation has swirled regarding a potential sale. This transaction represents the culmination of those rumours.

Strategic Rationale & Synergies

RTL Deutschland’s CEO Stephan Schmitter described the acquisition as a “unique opportunity” to combine two influential European media brands across free-to-air, pay-TV, and streaming platforms. Including Sky Deutschland, RTL’s revenue outlook is now projected at €4.6 billion. The company targets approximately €250 million in synergies over three years, with annual content investments reaching around €2.5 billion.

Market Positioning

By merging RTL+ with Sky’s WOW and pay-TV operations, the combined subscriber base will approach 11.5 million, placing RTL third in the German streaming market behind Netflix (~16.5 million) and Amazon Prime (~15 million), and ahead of Disney+ (~4.6 million). The deal significantly enhances RTL’s portfolio in sports, entertainment, and informational programming.

Quotes from Leadership

• Stephan Schmitter, CEO of RTL Deutschland:

  “With this step, we are laying the foundation for something big… now for even more perfectly complementary target groups.”

• Barny Mills, CEO of Sky Deutschland:

  “An exciting new chapter… promising an unmatched experience for audiences across the region.”

Financial and Content Highlights

Regulatory clearance is expected in 2026.

Implications for the Media Landscape

This deal marks one of the most significant consolidations in the European media sector in recent years, positioning RTL Deutschland to directly challenge U.S. streaming giants such as Netflix, Amazon Prime, and Disney+ through a reinforced content, technology, and distribution strategy.

About RTL Deutschland

RTL Deutschland is a leading European broadcaster and streaming group, delivering a broad mix of entertainment, sports, news, and factual programming across terrestrial, satellite, and digital platforms.

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