Owner Comcast had been trying to offload lossmaking Sky Deutschland for number of years
Sky has sold its German pay-TV business to RTL, the former owner of Channel 5, in a deal that could ultimately value the business at almost £500m.
Germany’s biggest broadcaster, which is owned by the media conglomerate Bertelsmann, has agreed to buy Sky Deutschland for €150m (£128m), and a further up to €377m depending on the future performance of RTL Group.
Comcast, the parent company of Sky, has been looking to sell its German business for a number of years.
The jettisoning of the German operation is part of a wider plan by Comcast to make good on the eye-watering £31bn it paid to secure the Sky group in a bidding war with Disney in 2018.
