Comcast Sells Sky Deutschland to RTL as Media Deals Pick Up in Europe
Comcast CMCSA 1.06%increase; green up pointing triangle is selling its Sky Deutschland unit to Bertelsmann's RTL RRTL 16.75%increase; green up pointing triangle Group for up to $617 million, as the wave of dealmaking that is reshaping the U.S. television sector crosses the pond.
Media companies on both sides of the Atlantic are trying to adapt to the rise of streaming platforms, which has intensified competition for consumers' watching time and advertisers' spending. In response, legacy companies are shaking up their portfolios and pursuing a series of deals that promises to reshape the media landscape.
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