Schibsted took over 8 million shares Viaplay Group, which are covered by a total return swap agreement with Nordic Investment Bank. It was not stated how much he paid for them.
– Viaplay’s strong position as a streaming service provider in the Nordic countries fits very well with our media business. We are convinced that as a financially focused shareholder we can support the value creation of this company, said Kristin Skogen Lund, head of Schibsted, in a statement.
– Schibsted has a long history of investing in companies close to our foundation. They benefit from our strong position and seize opportunities that arise in more uncertain times. Our investment in Viaplay is an example of this, she noted.
Immediately after the announcement of this transaction, Viaplay Group shares increased by 5%. Then the increase decreased, at the end of the session it amounted to 1.4%.
In Poland, Viaplay for sale, for closure or with a partner
In the second half of July this year, along with the presentation of its financial results for the first half of the year, Viaplay Group announced that it would lay off over 25%. employees and will focus on Scandinavia, the Netherlands and Viaplay Select, and as for other foreign markets, it will terminate its operations there (this decision has already been made in the case of the Baltic countries), limit it or develop partnerships with other entities.
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The company has started a strategic analysis of its activities in this respect. – Not all investments made in content pay off and have such prospects in the short or medium term. Moreover, the race to increase the number of subscribers took place at the expense of value, especially when it comes to our partnership agreements – admitted Jørgen Madsen Lindemann, since the beginning of June this year. president of the concern.
On June 30, the last Polish original production debuted on Viaplay – the documentary series “The Case of Iwona Wieczorek”. As part of a sublicense sold by the platform, it can also be watched on Netflix from September 2.
In markets outside Scandinavia, Viaplay Group’s revenues in the second quarter of this year. increased year on year from 282 million to 771 million Swedish krona. However, with much higher operating costs (they increased from CZK 521 million to CZK 1.25 billion), the operating loss deepened from CZK 239 to 481 million.
Year over year, the number of Viaplay subscribers in these markets increased from 1.51 to 2.56 million, and during the quarter it decreased from 2.9 million, which the company justified in the report by the expiration of some distribution partnerships. The company noted that while there was a quarter-on-quarter decline in the Netherlands, the number of subscribers increased in Poland.
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Viaplay Group is down significantly on the stock exchange
At the beginning of June, Viaplay Group changed its head and lowered its financial forecasts for this year, admitting that growth is more difficult to achieve in the current economic environment. On the day this information was provided, the company’s shares fell by over 60 percent, and within a few days the price decreased from 225 to approximately 60-65 crowns.
However, when in July the company announced layoffs and limited operations outside Scandinavia, the shares fell from 68 to 35 crowns within a day. On Wednesday at the end of the trading session the exchange rate was 43.64 crowns, by 82.6 percent. less than a year ago. At this price, the company’s capitalization is CZK 3.43 billion.
2023-09-15 09:32:04
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