RTL Group has confirmed the closing of the transaction to acquire Sky Deutschland (DACH). The transaction, which was first announced in June 2025, was unconditionally approved by the European Commission on April 22nd.

At closing, RTL Group has fully acquired Sky’s businesses in Germany, Austria and Switzerland, including customer relationships in Luxembourg, Liechtenstein and South Tyrol on a cash-free and debt-free basis. The upfront cash consideration paid to Comcast, Sky’s parent company, amounted to €68 million, reflecting customary net working capital and debt-like item adjustments compared with the previously communicated €150 million, consistent with the cash-free and debt-free basis of the transaction. The final cash consideration remains subject to customary post-closing adjustments.

The transaction brings together two prominent media brands in the DACH region, creating an entertainment business with around 12.3 million paying subscribers. RTL said that viewers will benefit from expanded access to premium live sports, entertainment and news across RTL+, Sky, WOW and RTL’s free-to-air channels. The transaction is expected to generate €250 million in annual synergies within three years after closing, mostly cost synergies across all categories.

RTL Group noted that it will provide an updated outlook for the full year 2026, including the full consolidation of Sky Deutschland for the period June to December 2026, upon the presentation of the Group’s half-year results on August 11th.

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Categories: Articles, Business, M&A, Pay TV

Tags: Comcast, RTL, sky