© Reuters. FILE PHOTO: The logo of German media company ProSiebenSat.1 is seen in front of the headquarters in Unterfoehring near Munich, Germany, November 5, 2020. REUTERS/Andreas Gebert//
By Elvira Pollina, Alexander Huebner and Amy-Jo Crowley
MILAN/BERLIN/LONDON (Reuters) – German media group ProSiebenSat.1 and European pay-TV operator Sky have revived talks over a combination of their businesses in Germany, four sources familiar with the matter said Monday.
Like other broadcasters across Europe, German broadcasters are struggling to reshape their business to compete with online streaming players such as Netflix (NASDAQ:) and DAZN. Under a potential transaction, Sky would pay hundreds of million of euros to sell its operations in Germany to Prosiebensat.1, two of the sources said.
Comcast (NASDAQ:), 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 (NYSE:), sources have previously said. Sky operates also in Italy and Britain. Prosiebensat.1 declined to comment. Sky declined to comment Comcast did not immediately respond to a request for comment.
(This story has been refiled to change the day to Monday from Wednesday in paragraph 1)
This story originally appeared on Investing
