Streaming service Viaplay delayed the release of its quarterly figures at the last minute. According to the company that broadcasts Formula 1 races in the Netherlands, there are still important discussions regarding the future of the company.
For example, the Swedish company is talking to shareholders and creditors about a possible restructuring. The company also sells parts.
Millions lost
Viaplay has been in trouble for a while. The Swedish company is unable to recoup the huge investments in programs and sports licenses. The streaming service suffered a loss of 6.5 million euros in the last quarter.
According to the company, a number of strict measures have already been taken. For example, the number of employees was reduced by 30 percent and the company withdrew from many countries. Some of our own production was also stopped.
Due to the problems experienced, Viaplay’s stock market value collapsed this summer. Today, an hour after the Swedish stock market opened, the share price fell again by around 17 percent.
It’s not yet clear when shareholders will learn more about the company’s performance in the third quarter. Viaplay announced that it will publish its quarterly figures by November 28 at the latest.
Source: NOS
Roy Brown is a renowned economist and author at The Nation View. He has a deep understanding of the global economy and its intricacies. He writes about a wide range of economic topics, including monetary policy, fiscal policy, international trade, and labor markets.
