Swedish streaming service Viaplay has once again delayed the release of its quarterly figures. These were supposed to be published after the stock market closed in Stockholm this afternoon, but that will be a day later. Viaplay said the postponement was agreed “in order to continue discussions with the largest shareholders, lenders and bondholders regarding the possible recapitalization of the group”.
This is the second time the release of third quarter figures has been postponed. According to Viaplay, a month ago on October 24, the figures were delayed because important discussions were being held with the largest shareholders and financiers about the financial situation and future of the broadcasting company. Given the renewed postponement, these discussions are yet to be clarified.
Expensive sports rights
The company faces financial and strategic problems. It is struggling with expensive sports rights, inflation, energy costs and declining subscriptions.
This summer, Viaplay announced that it was withdrawing from many countries. Viaplay remains active in the Netherlands; The streaming service broadcasts, among other things, English Premier League and Formula 1 football matches in the Netherlands. The latter has been discontinued for now as the season is over. After Sunday, many people canceled their subscriptions.
Viaplay also halted some production and reduced its workforce by 30 percent. The company also said there are discussions about selling the business. Viaplay had previously announced that it was considering finding a buyer for the entire company.
Meanwhile, Viaplay’s share price fell by 90 percent in six months.
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.
