RTL group to buy Sky Deutschland | Money news Aitrend

Sky Deutschland was sold at the Conglomerate of RTL Group multinational media for a first € 150 million euros.

Companies merge to create a brand with around 11.5 million paid subscribers.

The Sky Deutschland entity serves Germany, Austria and Switzerland with customers from Luxembourg, Liechtenstein and the province of Tyrol Sud in Italy with a program that includes live sports, exclusive series, films, content of children, documentaries and emissions.

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RTL Group operates broadcasting, streaming, content and digital companies with interest in 60 television channels, seven streaming services and 37 radio stations.

The group also has interests at radio stations in France, Germany, Spain and Luxembourg.

RTL Deutschland has 15 television channels and more than 10 magazines.

As part of the agreement, Sky Premium Sports Rights – including Bundesliga, Premier League and Formula 1 – will be merged with RTL entertainment and information brands.

The purchase is the largest transaction for the RTL group since its creation in 2000.

RTL will also use the Sky brand.

“It will bring together two of the most powerful entertainment and sport brands in Europe and create a unique video proposal through free television, paid television and streaming,” said Thomas Rabe, CEO of RTL Group.

“Together, RTL and Sky will be in an even stronger position to invest in people, content and technology in Germany and Europe to compete with worldwide technological players and streaming.”

The agreement is subject to regulatory approval, which, according to companies, will conclude next year.

In addition to 150 million euros in advance, Sky can trigger additional payment at any time within five years of the closure of the agreement if the share price of the RTL group exceeds € 41. The actions of the RTL group currently cost € 31.65.

This payment is capped at € 70 per share or 377 million euros.

Sky News belongs to Sky, which belongs to Comcast, the multinational media and American entertainment company.

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