Bondholders have given their approval to the SEK 4 billion recapitalisation of Viaplay Group.
SEK 4 billion worth of shares are being issue to existing shareholders through a rights issue that is being supported by prorata investments from shareholders including Canal Plus and PPF Cyprus Management Limited.
Jørgen Madsen Lindemann, Viaplay Group President and CEO: “This is an important step in executing on Viaplay Group’s proposed recapitalisation, which is essential in enabling us to deliver on our commitment to rebuild the company and deliver growth, profitability and returns for the benefit of all stakeholders. We are humbled and grateful for the positive result of the vote, which shows very clear support for our path ahead.”
Viaplay is widely seen to have overstretched itself with VOD growth unable to compensate for a fall in advertising sales in its domestic Nordic markets.
The business is stable in the Netherland and the Nordic region, but the Baltics, Poland and the UK have continued to perform below expectations.
Premier Sports is in the process of buying back the UK sports business it sold a year ago, while it has been confirmed Viaplay will exit the Baltic and Polish markets by summer 2025.
