German media group ProSiebenSat.1 and European pay-TV operator Sky have revived talks over a potential combination of their businesses in Germany. This comes as broadcasters across Europe are struggling to compete with online streaming players such as Netflix and DAZN. Under the potential transaction, Sky would pay hundreds of million of euros to sell its operations in Germany to Prosiebensat.1.
Comcast, which acquired Sky Deutschland as part of a $40 billion buyout of European pay-TV broadcaster Sky in 2018, is working with advisory firm PJT Partners. Sky operates also in Italy and Britain. Prosiebensat.1, Sky, and Comcast have declined to comment on the matter.
The potential combination of ProSiebenSat.1 and Sky would be a major step in the reshaping of the German media landscape. It remains to be seen how the deal will play out and what the implications will be for the industry.