Streaming giant is created
RTL wants to buy Sky Germany
Great takeover on the media market: RTL wants to take over the media group Sky Germany. This was announced by both companies. Competition keepers must agree to the deal.
The RTL Group buys the Pay TV station Sky Germany and wants to offer the US streaming platforms Netflix and Amazon Prime. The Bertelsmann subsidiary announced on Friday that ComCast will take over 100 percent of Sky businesses in Germany, Austria, Switzerland, Luxembourg and South Tyrol on cash and debt-free base. The US media group Comcast receives 150 million euros in cash and-depending on the development of the RTL share-can receive a refuge of up to 377 million euros in the next few years.
“We see ourselves in a network with Sky as a clear national media champion in Germany, which has all the prerequisites and resources to compete with the US platforms,” said Thomas Rabe, the head of Bertelsmann and the RTL Group, the Reuters news agency.
RTL and Sky become two on the market
The merger of RTL and Sky brings together two of the strongest entertainment and sports brands in Europe and
Create a unique video offer on free TV, pay TV and streaming. With around 11.5 million paying streaming subscribers in the future, the joint company in Germany will catch up with the major US competitions. The streaming services RTL+ and WOW from Sky would then be in third place before Disney, but still clearly behind market leaders Netflix and Amazon’s Prime.
In the past, Rabe had repeatedly flirted with a fusion with the Bavarian competitor ProSiebenSat.1, but doubted the green light of the antitrust authorities. “The topic of an amalgamation with ProSiebenSat.1 has now definitely been done,” said Rabe Reuters. “Sky is the much better option for us because the business is complementary to RTL,” he said. “A further consolidation for us on the German market is not necessary and we would not strive either.”
Stefan Schmitter remains RTL boss
The Sky deal for the RTL Group is the largest transaction since its foundation in 2000. The transaction is to be crossed in 2026
go and bring 250 million euros to synergies after three years. The joint company Stephan should lead
Schmitter, head of RTL Germany. The headquarters of RTL Germany remains Cologne, that of Sky Deutschland Munich.
Sky Germany recently achieved two billion euros in annual sales with a good 2,000 employees. The broadcaster has some before
Years of high losses written. Sky boss Dana Strong emphasized that the Germany business has had in the past three
Years made great progress thanks to the renovation.
Transparency note: The star is part of RTL Germany.
Reuters
TIS / Klaus Lauer
Source: Stern
