The deal, which still has to pass regulatory approval, would make RTL the third-biggest streaming service in Germany, ahead of Disney+, with 11.5 million subscribers.

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.

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.