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RTL takes over Sky: 3,700 jobs in Cologne at risk!
RTL Deutschland plans to take over Sky Deutschland for 150 million euros in order to change the streaming landscape in Germany.
RTL takes over Sky: 3,700 jobs in Cologne at risk!
The media landscape in Germany is facing a remarkable change: RTL Deutschland has announced the takeover of Sky Deutschland. With an initial purchase price of 150 million euros, which can rise to up to 377 million euros depending on the development of the RTL share price, RTL is pursuing the vision of creating a leading streaming and TV platform. This is reported by the Cologne City Gazette.
According to RTL, this merger, which also includes the streaming service WOW, will bring together around 11.5 million paying subscribers. The takeover is intended to not only increase program diversity, but also enable synergies amounting to 250 million euros within three years. RTL currently offers a wide range of television channels, digital offerings and magazines and would like to further optimize its portfolio by integrating Sky and WOW.
A look at the future
Stephan Schmitter, the CEO of RTL Deutschland, describes the purchase as a “unique opportunity”. Market participants are optimistic, which can also be seen in the increase in RTL shares by almost 15 percent. This means a “streaming boost” and a “unique offering” that should be of interest to both viewers and advertisers, as RTL explains in a press release [ RTL Group ].
But the merger process is still subject to approval by the antitrust authorities. A decision is expected next year, with the takeover subject to notification to the European Commission's competition and media concentration authorities. It remains to be seen whether these high requirements will be met, as previous considerations for merger projects with other competitors such as ProSiebenSat.1 also failed due to similar antitrust concerns [ LTO ].
The impact on employees and spectators
The merger will not only influence the company structures, but also turn the working world of many employees upside down. RTL currently has 6,650 full-time positions, more than half of which are based in Cologne. It is expected that particular efficiency gains through the elimination of duplicate structures could also lead to some job losses. Nevertheless, it is emphasized that Cologne remains RTL's headquarters, while Sky continues to operate from Munich.
Exciting times await viewers: The three brands RTL+, Sky and WOW will initially remain independent, which promises a wide range of content from the areas of entertainment, sports and information. However, much is still unclear about the pricing of streaming subscriptions after the takeover.
In summary, the RTL-Sky deal presents both risks and opportunities. With this step, RTL shows a clear will and a good knack for revitalizing the market and positioning itself as the third largest streaming provider in Germany. In the future, consumers could ask themselves: What will the new shared media world bring?