Latest news with #ThomasRabe
Time of India
28-06-2025
- Business
- Time of India
RTL buys Sky Deutschland in deal to take on US streaming giants
European broadcaster RTL Group said on Friday it would buy Sky Deutschland , in a deal that combines Sky 's sports and streaming offerings with RTL's news and entertainment brands to create a business with 11.5 million paying subscribers. Shares in RTL surged 12% following announcement of the deal, rising to the top of Germany's mid-cap index. The merger brings together two of Europe's strongest media offerings in sport and entertainment in a battle to catch up with U.S. heavyweights in Germany. RTL and Sky's combined streaming services boast an audience larger than that of Disney but far behind market leaders Netflix and Amazon Prime. The deal includes a 150 million euro ($176 million) upfront payment plus a variable component of up to 377 million euros depending on RTL's share price which Sky parent Comcast can trigger any time within five years. The purchase gives RTL, which is majority-owned by German media group Bertelsmann , local access to Sky's premium sports rights including Bundesliga and Premier League soccer, and Formula 1 motor racing, as well as Sky's WOW streaming service. A person familiar with the situation said RTL had approached Sky for the deal, and that Sky was not looking to sell any other part of its business. RTL Chief Executive Thomas Rabe described the deal as "transformational" for the group and said it would create cost savings of around 250 million euros per year within three years of the deal closing. In the past, Rabe had considered a bid for German competitor ProSiebenSat.1 but doubted whether competition regulators would give that the green light. He told Reuters in a separate interview that RTL would not be involved in any further consolidation in the German market. "The issue of a merger with ProSiebenSat.1 is now definitely off the table," he said. ProSieben, for its part, is trying to fend off a takeover from MFE, the TV broadcaster controlled by Italy's Berlusconi family, which wants to build on its commercial TV operations in Italy and Spain to create a pan-European broadcaster. Sky Deutschland, which operates in Germany, Austria, Switzerland, was on track to break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, Sky Group Chief Executive Dana Strong said. The business reported around 2 billion euros in annual revenue. The variable component of the deal with Sky depends on RTL's share price, which was 35.40 euros at 0721 GMT in Frankfurt trade following a jump in value after announcement of the deal. Comcast can trigger it at any time within five years of the deal being finalised provided the share price exceeds 41 euros. At a share price of 70 euros, the additional payment for Comcast would be capped at 377 million euros. RTL can pay in cash, shares or a combination of both.
Yahoo
27-06-2025
- Business
- Yahoo
RTL to buy Sky Deutschland for €150mn in TV consolidation effort
RTL has agreed to buy Comcast's Sky Deutschland for €150 million as the media conglomerate seeks to stave off competition from US streaming platforms. On top of the €150mn upfront cost, the group may pay a further €377mn if RTL's share price rises above €41 apiece five years after the deal's close. RTL said that the acquisition, if approved by regulators, would allow it to become the third-biggest provider of streaming services in Germany after Netflix and Amazon Prime. The deal is expected to close next year. Comcast, Sky's parent firm since 2018, has been looking to sell Sky Deutschland for several years. The German subsidiary has never made a profit but it is expected to break even this year. The firm has notably been struggling as competition from streaming services heats up. However, Sky won a significant deal to exclusively show most Bundesliga football matches last year, through to the end of the 2028-29 season, boosting its attractiveness. 'The business is on track to achieve EBITDA break-even, reflecting the success of our turnaround plan. Combining the strength of our brand with RTL builds on that momentum and opens up even greater opportunities,' Dana Strong, Group CEO at Sky, said in a statement. Related Warner Bros. Discovery to split, dividing TV and streaming services Netflix and France's TF1 join forces as traditional TV struggles Thomas Rabe, CEO of RTL, noted: 'the synergies are estimated to be around €250mn per annum within three years after closing, creating significant shareholder value'. Combined, the groups will have around 11.5mn subscribers. Under the terms of the deal, RTL will have the right to use the Sky brand in Germany, Austria, Switzerland, Luxembourg, Liechtenstein and South Tyrol. RTL has been looking to secure new revenue streams through premium subscriptions, as it operates several television and radio stations that are free to air. The decision to buy Sky Deutschland is the biggest deal it has struck since it was formed in 2000. In 2023, RTL had its eyes on another consolidation project, bidding to acquire Dutch media conglomerate Talpa Network. Competition authorities said the merged group would be too dominant in the Netherlands. RTL then proposed to sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media, although regulators have yet to give the green light. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Euronews
27-06-2025
- Business
- Euronews
RTL to buy Sky Deutschland for €150mn in TV consolidation effort
RTL has agreed to buy Comcast's Sky Deutschland for €150 million as the media conglomerate seeks to stave off competition from US streaming platforms. On top of the €150mn upfront cost, the group may pay a further €377mn if RTL's share price rises above €41 apiece five years after the deal's close. RTL said that the acquisition, if approved by regulators, would allow it to become the third-biggest provider of streaming services in Germany after Netflix and Amazon Prime. The deal is expected to close next year. Comcast, Sky's parent firm since 2018, has been looking to sell Sky Deutschland for several years. The German subsidiary has never made a profit but it is expected to break even this year. The firm has notably been struggling as competition from streaming services heats up. However, Sky won a significant deal to exclusively show most Bundesliga football matches last year, through to the end of the 2028-29 season, boosting its attractiveness. 'The business is on track to achieve EBITDA break-even, reflecting the success of our turnaround plan. Combining the strength of our brand with RTL builds on that momentum and opens up even greater opportunities,' Dana Strong, Group CEO at Sky, said in a statement. Thomas Rabe, CEO of RTL, noted: 'the synergies are estimated to be around €250mn per annum within three years after closing, creating significant shareholder value'. Combined, the groups will have around 11.5mn subscribers. Under the terms of the deal, RTL will have the right to use the Sky brand in Germany, Austria, Switzerland, Luxembourg, Liechtenstein and South Tyrol. RTL has been looking to secure new revenue streams through premium subscriptions, as it operates several television and radio stations that are free to air. The decision to buy Sky Deutschland is the biggest deal it has struck since it was formed in 2000. In 2023, RTL had its eyes on another consolidation project, bidding to acquire Dutch media conglomerate Talpa Network. Competition authorities said the merged group would be too dominant in the Netherlands. RTL then proposed to sell its Dutch subsidiary RTL Nederland to Belgium-based DPG Media, although regulators have yet to give the green light.
New Straits Times
27-06-2025
- Business
- New Straits Times
RTL buys Sky Deutschland in deal to take on US streaming giants
BERLIN: European broadcaster RTL Group said on Friday it would buy Sky Deutschland, in a deal that combines Sky's sports and streaming offerings with RTL's news and entertainment brands to create a business with 11.5 million paying subscribers. Shares in RTL surged 12 per cent following announcement of the deal, rising to the top of Germany's mid-cap index. The merger brings together two of Europe's strongest media offerings in sport and entertainment in a battle to catch up with U.S. heavyweights in Germany. RTL and Sky's combined streaming services boast an audience larger than that of Disney but far behind market leaders Netflix and Amazon Prime. The deal includes a 150 million euro (US$176 million) upfront payment plus a variable component of up to 377 million euros depending on RTL's share price which Sky parent Comcast can trigger any time within five years. The purchase gives RTL, which is majority-owned by German media group Bertelsmann, local access to Sky's premium sports rights including Bundesliga and Premier League soccer, and Formula 1 motor racing, as well as Sky's WOW streaming service. A person familiar with the situation said RTL had approached Sky for the deal, and that Sky was not looking to sell any other part of its business. RTL chief executive Thomas Rabe described the deal as "transformational" for the group and said it would create cost savings of around 250 million euros per year within three years of the deal closing. In the past, Rabe had considered a bid for German competitor ProSiebenSat.1 but doubted whether competition regulators would give that the green light. He told Reuters in a separate interview that RTL would not be involved in any further consolidation in the German market. "The issue of a merger with ProSiebenSat.1 is now definitely off the table," he said. ProSieben, for its part, is trying to fend off a takeover from MFE, the TV broadcaster controlled by Italy's Berlusconi family, which wants to build on its commercial TV operations in Italy and Spain to create a pan-European broadcaster. Sky Deutschland, which operates in Germany, Austria, Switzerland, was on track to break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, Sky Group Chief Executive Dana Strong said. The business reported around 2 billion euros in annual revenue. The variable component of the deal with Sky depends on RTL's share price, which was 35.40 euros at 0721 GMT in Frankfurt trade following a jump in value after announcement of the deal. Comcast can trigger it at any time within five years of the deal being finalised provided the share price exceeds 41 euros. At a share price of 70 euros, the additional payment for Comcast would be capped at 377 million euros. RTL can pay in cash, shares or a combination of both.
Reuters
27-06-2025
- Business
- Reuters
European media group RTL to buy Sky Deutschland
LONDON, June 27 (Reuters) - European broadcaster RTL Group ( opens new tab said on Friday it would buy Sky Deutschland, in a deal that combines Sky's sports and streaming offerings with RTL's news and entertainment brands to create a business with 11.5 million paying subscribers. The deal includes a 150 million euro ($176 million) upfront payment plus a variable component of up to 377 million euros - provided RTL's share price exceeds 41 euros - which Sky parent Comcast (CMCSA.O), opens new tab can trigger any time within five years. The purchase gives RTL, which is majority-owned by German media group Bertelsmann (BTGGg.F), opens new tab, local access to Sky's premium sports rights including Bundesliga and Premier League soccer, and Formula 1 motor racing, as well as Sky's WOW streaming service. A person familiar with the situation said RTL had approached Sky for the deal, and that Sky was not looking to sell any other part of its business. RTL Chief Executive Thomas Rabe described the deal as "transformational" for the group and said it would create cost savings of around 250 million euros per year within three years of the deal closing. "It will boost our streaming business ... further diversify our revenue streams and make us even more attractive for creative talent, rights holders and business partners," Rabe said in a statement. He told Reuters in a separate interview that RTL would not be involved in any further consolidation in the German market. "The issue of a merger with ProSiebenSat.1 is now definitely off the table," he said, referring to the German media group. Sky Deutschland, which operates in Germany, Austria, Switzerland, was on track to break even on an earnings before interest, taxes, depreciation and amortization (EBITDA) basis, Sky Group Chief Executive Dana Strong said. The business reported around 2 billion euros in annual revenue. ($1 = 0.8519 euros)
