The Swedish streaming platform Viaplay has recently been looking for money for further development. Soon – as it turns out – the group may receive a very large cash injection. Two companies are interested in spending a huge amount of money.
Viaplay may receive almost PLN 1 billion for further operations
According to reports, an extraordinary general meeting of shareholders of the Viaplay Group will be held on January 10, during which steps will be taken to recapitalize the company. The company needs an injection of as much as SEK 4 billion (PLN 1.53 billion). Viaplay wants to raise money through a targeted share issue, complementing the rights issue, the website writes.
Two other companies have already decided to invest in Viaplay – the French Canal+ group and PPF. Each of them would buy Viaplay shares for CZK 1.33 billion, i.e. approximately PLN 510 million. In total, this amounts to as much as PLN 1.02 billion that the Swedish streaming service would receive. This money would be used by Viaplay to repay its obligations on the platform.
Canal+ had already acquired a significant part of Viaplay’s shares. From July this year the French giant owns approximately 12 percent. shares in the platform. The PPF Group, which runs a number of television channels in Europe through its company Central European Media Enterprises, purchased in August this year. 6.3 percent shares in Viaplay.
Viaplay was to leave the Polish market. But not now
In July this year Viaplay announced plans to discontinue operations in Poland and several other markets – including: in the USA, Canada and Great Britain. The group then admitted that the decision was an element of the company’s restructuring, and the platform wanted to focus primarily on operations on the Scandinavian markets and the Netherlands.
The decision was a complete surprise, but – despite the announcements – the Viaplay service is still available in Poland. However, as he informed, the platform will be available on the Vistula River for up to two more years. “The Viaplay streaming service will continue its operations in Poland until the summer of 2025 and function as before,” Viaplay confirmed in a comment for Sport.pl.
Source: Gazeta
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