Viaplay Completes Recapitalisation Program, Bolstered by Increased Shareholdings from Canal+ and PPF
Swedish media company Viaplay Group has successfully concluded its recapitalisation program, securing a $3.8 billion equity capital injection (SEK 4 billion). The program also involved increased shareholdings for both Canal+ and PPF, according to a statement from the company.
Viaplay Group CEO Jørgen Madsen Lindemann expressed confidence that the recapitalisation would enable the company to address immediate challenges while pursuing long-term ambitions. We are a more focused, realistic, and agile player now, Lindemann said, noting that Viaplay Group operates in markets where they have a track record of success with popular products at affordable prices.
The recapitalisation comes after a tumultuous period for Viaplay, which faced the threat of bankruptcy earlier in 2023 following reported operating losses of $23 million during the second quarter. As part of a major downsizing effort, Viaplay appointed a new CEO and withdrew operations from the UK, United States, and Canada, resulting in over a quarter of its staff being made redundant.
Lindemann acknowledged the significance of completing the recapitalisation process and the commitment from stakeholders, emphasizing the company’s determination to rebuild stakeholder value. Viaplay Group plans to implement various operational and financial measures to drive higher growth, profitability, and liquidity.
By successfully securing additional funding and support, Viaplay is in a position to strengthen its position in the market and continue delivering compelling content to its loyal customer base. With an eye toward the future, Viaplay Group aims to leverage its more focused and agile approach to capture new opportunities and reach even greater heights of success.
The recapitalisation signals a turning point for Viaplay Group, highlighting its resilience and determination to regain stability and thrive amidst evolving market dynamics. With a renewed sense of purpose and the resources to support its ambitions, Viaplay is well-positioned to solidify its status as a leading player in the media landscape.
As Viaplay Group sets its sights on the future, its stakeholders and customers eagerly anticipate the company’s next moves in capturing the attention and loyalty of audiences worldwide. With its enhanced financial resources and a sharpened focus, Viaplay Group is poised to deliver engaging and cutting-edge entertainment experiences that captivate viewers across the globe.
In conclusion, Viaplay Group’s successful recapitalisation program, fortified by increased shareholdings from Canal+ and PPF, positions the company as a more determined and agile player in the media industry. With an unwavering commitment to rebuilding stakeholder value, Viaplay Group aims to leverage its expertise and market knowledge to drive higher growth, profitability, and customer satisfaction.
