The sale for up to $617 million comes as legacy companies shake up their portfolios in an attempt to adapt to the rise of streaming platforms.

European broadcaster RTL Group said on Friday it would buy Sky Deutschland, in a deal that combines Sky's sports and streaming offerings with RTL's news and entertainment brands to create a business with 11.

This brings to an end a long, drawn-out sales process of RTL’s Dutch business. RTL struck the deal with DPG Media, a European operation with bases in Benelux and Denmark, in December 2023 and expected the agreement to close in mid-2024. However, regulators wanted to take a deeper look and the issue dragged on.