RTL Group takes over Sky Deutschland

RTL Group announced today the acquisition of Sky Deutschland.

With this binding agreement, the merger of RTL Deutschland and Sky Deutschland, including the streaming service Wow, will create a new European media power – with around 11,5 million paying subscribers in the streaming, free-TV and pay-TV sectors.

The transaction marks a strategic milestone for RTL Group in the German-speaking region.

Two media giants under one roof

Stephan Schmitter, CEO of RTL Deutschland, sees the acquisition as a historic opportunity: "The acquisition of Sky Deutschland is a unique opportunity for RTL: We are bringing together two major European media brands and creating a leading streaming and TV platform."

RTL stands for shows, reality, news and big sports moments – Sky, on the other hand, as home of the Bundesliga, Premier League and Formula 1, is a premium provider in the sports and series sector.

Together we create an offer that ranges from linear TV to premium streaming – with content for every target group and every device.

Strategic advantages and growth opportunities

With the integration of Sky Deutschland, RTL Deutschland is significantly expanding its business model.

◉ Annual pro forma revenue of the merged company: EUR 4,6 billion.
◉ Subscription-based revenues: around 45 percent.
◉ Planned annual synergies: approximately EUR 250 million (within three years).
◉ Joint investment volume in content: approximately 2,5 billion euros per year.

Sky also brings strong pay-TV expertise – an important building block for the diversification of RTL Group’s revenue sources.

The new company is also positioning itself internationally as a serious player on a par with the US giants.

Streaming market: RTL+, Sky & Wow united

Through the acquisition, RTL Deutschland will combine three strong brands in the streaming business:

◉ RTL+ as the leading national platform.
◉ Wow (formerly Sky Ticket) as an international entertainment brand.
◉ Sky as a sports channel with premium rights.

RTL will continue to operate the Sky brand in the DACH region (Germany, Austria, and Switzerland), as well as in Luxembourg, Liechtenstein, and South Tyrol. Customer relationships in these markets will also be fully transferred to the RTL Group.

Management & locations remain

Stephan Schmitter will remain CEO of RTL Deutschland and will lead the combined company after the transaction is completed.

◉ Barny Mills, CEO of Sky Deutschland, will continue to be responsible for the operational business until closing.
◉ The headquarters in Cologne (RTL) and Munich (Sky) will remain.

Purchase price and legal framework

◉ Purchase price: EUR 150 million (excluding cash and debt).
◉ Earn-out option: Maximum of EUR 377 million, depending on the RTL Group share price.
◉ RTL may make the earn-out payment in cash, shares or a combination.

The transaction has been approved by RTL Group's Board of Directors. It is subject to approval by the competition and media regulators; completion is expected in 2026.

Entertainment in German-speaking countries

With the takeover of Sky Deutschland, RTL Deutschland is repositioning itself – as a full-range provider for modern media usage, from live sports to reality shows to award-winning series.

The bundling of content, technology and expertise promises an even more attractive offering for viewers and advertisers.

Sierks Media / © Photo: Glenn Carstens-Peters, Unsplash