Analysis: RTL Acquires Sky Deutschland

RTL Group has agreed to acquire Sky businesses in Austria, Germany, and Switzerland - with an upfront payment of €150m.

In addition, the deal consists of a variable component capped at €377m linked to its share performance over the next five years. This performance-linked structure aligns Comcast's (Sky's parent) interests with RTL's success. Given the scale of the move, it will be heavily scrutinised by regulators with the parties expected to close the deal in 2026.

Other companies/organisations mentioned include: Amazon, Channel 4, Disney, HBO, ITV, Netflix, TF1 and Warner Bros. Discovery.