Norway’s Schibsted has acquired a 10.1% stake in Viaplay for an undisclosed fee.
Commenting on the transaction, Schibsted CEO Kristin Skogen said: “Schibsted has a long history of investing in companies close to our core that benefit from our strength, and of seizing opportunities which arise in more uncertain times. Our investment in Viaplay is an example of this – Viaplay’s strong position as a streaming provider in the Nordics fits very well with our media operations, and we are confident that we, as a financially focused shareholder, can support value creation in the company”.
Broadband TV News notes that Viaplay’s much-publicised problems have resulted in several high-profile acquisitions of shares in the group. Canal+ bought a 12% in July and the following month PPF Group secured a 6.3% stake.