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.

The deal creates Germany’s third-largest streamer and strengthens RTL’s position as a gatekeeper for international platforms entering Europe’s top TV market. "HBO Max is launching in Germany next year,

RTL Group agreed to buy Comcast Corp.’s Sky Deutschland for an upfront price of €150 million ($176 million) in the TV provider’s biggest-ever deal as it looks for ways to add new revenue streams.