Swedish streaming company Viaplay has postponed the announcement of its Q3 2023 results after revealing it is in talks with three major shareholders as well as lenders and bondholders on a recapitalisation, and is in discussions to sell non-core operations.
The results were due to be published today but have been pushed back to the end of November.
Earlier this summer, the company revealed it was pulling out of the UK, United States and Canada as part of a major downsizing, as well as making more than 25 per cent of its staff redundant.
Viaplay entered the UK streaming market in November 2022, with the US following earlier this year. The company acquired streaming rights to Scotland, Wales and Northern Ireland men’s football matches, with the deal due to begin in 2024.
In June, the company appointed Jorgen Madsen Lindemann as CEO following the resignation of Anders Jensen.
The change at the top of the organisation followed Viaplay reporting $23 million in operating losses during the second quarter of 2023.
Vivendi Group bought a 12 per cent stake in Viaplay in July, while Norwegian media group Schibsted has also acquired a 10 per cent stake, making them Viaplay’s two largest shareholders.
