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,

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.