Viaplay: €351m capital injection to "address near-term financial commitments"

Viaplay has announced a "comprehensive recapitalisation to address its near-term financial commitments and provide for the future development of the group," said the Swedish audiovisual group on 01/12/2023. Viaplay posted a net loss of SEK693m (€60.8m) for the third quarter of its 2023 financial year.

"The proposed recapitalisation includes an equity capital injection of SEK4bn (€351m), which is supported by shareholders including Canal+ and PPF, by means of an approximately SEK 3.1bn (€272m) directed share issue and an approximately SEK0.9bn (€79m) rights issue, with Nordea Asset Management, representing funds holding approximately 7.7% of the capital and votes," said the group.

"We are conducting an immediate strategic review of the entire business to consider all options including content sublicensing, asset disposals, equity injections or the sale of the whole Group," said Jorgen Madsen Lindemann on 20/07/2023, while the group had announced the redundancy of 25% of its workforce (around 450 people, according to the specialist press) due to poor financial performance, the same…