On Monday, four sources reported German media giant ProSiebenSat.1 (PSMGn.DE) and European pay-TV operator Sky had resumed merger talks.
German broadcasters struggle to adapt to Netflix (NFLX.O) and DAZN.
Two people claimed Sky could sell its German operations to Prosiebensat.1 for hundreds of millions of euros.
Afternoon Prosiebensat.1 shares increased by 3.2%.
Sources say Comcast (CMCSA.O), which bought Sky Deutschland in 2018 as part of a $40 billion takeover of European pay-TV network Sky, is working with advisory company PJT Partners. Italy and Britain have Sky.
Prosiebensat.1 declined comment. Sky declined to comment. Comcast did not immediately comment.
Comcast, which bought Sky Deutschland in 2018 as part of a $40 billion buyout of European pay-TV broadcaster Sky, may lose if a deal goes through.
BskyB acquired Sky Deutschland 2014 for 4.44 billion pounds ($5.60 billion). DAZN’s football rights competition and the broadcast market’s collapse have hurt Sky Germany.
Sources indicated negotiations are ongoing, and no deal is guaranteed. They emphasized that no merger structure had been decided.
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