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.

Sky Deutschland has been acquired by RTL, ending years of speculation on its future. The channel group paid €150M ($175M) for Sky’s German arm, “with additional variable consideration linked to future value creation.” RTL said it expects €250M of annual synergies within three years after closing.

German media giant RTL Group has signed an agreement to buy Comcast-owned pay-TV acquire Sky Deutschland. The deal brings together two top media brands in the region, creating a business with roughly 11.5 million paying subscribers.