German media giant RTL Group has signed an agreement to buy Comcast-owned pay-TV platform Sky Deutschland. The deal brings together two top media brands in the region, creating a business with roughly 11.5 million paying subscribers.
The joint businesses will combine “Sky’s premium sports rights – including Bundesliga, DFB-Pokal, Premier League and Formula 1 – with RTL’s leading entertainment and news brands across RTL+, free-to-air and pay TV.” The deal also “unites the fastest growing streaming offers in the German market, RTL+ and Wow,” the companies said in a joint statement.
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The deal involves a €150 million ($176 million) upfront payment
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