Schibsted held more than 8 million shares Viaplay GroupWhich is covered by the total return swap agreement with Nordic Investment Bank. He did not mention the amount he paid them.
– Viaplay’s strong position as a streaming service provider in the Nordics fits well with our media business. “We are convinced that as a financially focused shareholder, we can support the value creation of this company,” Christine Skogen Lund, Schibsted’s president, said in a statement.
Schibsted has a long history of investing in companies close to our organization. They take advantage of our strong position and seize opportunities that arise in times of uncertainty. Our investment in Viaplay is an example of this,” she noted.
Immediately after the announcement of this deal, Viaplay Group shares rose by 5%. Then the increase decreased, reaching 1.4% at the end of the session.
In Poland, Viaplay is for sale, closing or with a partner
In the second half of July this year, along with presenting its financial results for the first half of the year, the Viaplay Group announced that it would lay off more than 25%. employees and will focus on Scandinavia, the Netherlands and ViableSelect, as for other foreign markets, it will end its operations there (this decision has already been taken in the case of the Baltic countries), restrict them or develop partnerships with other entities.
The company has begun to conduct a strategic analysis of its activities in this regard. – 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 has been at the expense of value, especially when it comes to our partnership agreements – admitted Jürgen Madsen Lindemann since the beginning of June this year. Head of anxiety.
On June 30, the latest original Polish production debuted on Viaplay – the documentary series “The Case of Iwona Wieczorek”. As part of a sub-license sold by the platform, it can also be watched on Netflix from September 2.
In markets outside Scandinavia, Viaplay Group’s revenue in the second quarter of this year. It rose year on year from 282 million to 771 million SEK. However, with operating costs much higher (rising from CZK 521 million to CZK 1.25 billion), the operating loss deepened from CZK 239 million to CZK 481 million.
On an annual basis, the number of Viaplay subscribers in these markets increased from 1.51 to 2.56 million, and decreased during the quarter from 2.9 million, which the company justified in the report by the end 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 fell significantly on the stock exchange
At the beginning of June, Viaplay Group changed its mind and lowered its financial forecast for this year, acknowledging that achieving growth is more difficult in the current economic environment. On the day this information was provided, the company’s shares fell by more than 60 percent, and within a few days the price fell from 225 to approximately 60-65 kroner.
However, when in July the company announced layoffs and limited operations outside Scandinavia, the share price fell from 68 to 35 kroner within one day. On Wednesday at the end of the trading session The exchange rate reached 43.64 kroner, a rate of 82.6 percent. Less than a year ago. At this price, the company’s capitalization amounts to CZK 3.43 billion.
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