RTL Group, a Bertelsmann subsidiary, is planning to acquire the pay-TV broadcaster Sky Deutschland from U.S. media group Comcast.
Comcast will receive €150 million in cash and — depending on the performance of RTL shares — could receive an additional €377 million in the coming years.
The acquisition will create an offering, which aims to compete with Netflix and Amazon Prime, with approximately 11.5 million paying streaming subscribers.
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.
Leave A Comment