Sweden's Viaplay agrees to sell TV channel Premier Sports back to SSBL (updated)
30/11/2023 10:19
(Changes sourcing, adds detail in last paragraph)
STOCKHOLM, Nov 30 (Reuters) - Crisis-hit Swedish
streaming group Viaplay VPLAYb.ST said on Thursday it has
agreed to sell Premier Sports in Britain to SSBL, from which it
bought the TV channel last year.
Viaplay announced its entry into Britain in July last year
with the acquisition of the channel, and unveiled plans to enter
several new markets in the face of more competition from the
likes of Netflix and HBO Max.
Slammed by a drop in demand, however, in July this year it
said it would shift focus towards its core Nordic, Netherlands
and Viaplay Select operations, while considering downsizing,
partnering or exiting other markets.
"We have agreed to sell our British operations back to the
previous owners SSBL Ltd (Premier Sports). This is in line with
Viaplay Group's strategy and plan that we presented in July," a
Viaplay spokesperson said.
The news was first reported by business daily Dagens
Industri late on Wednesday.
Viaplay, which is due to report quarterly earnings later on
Thursday after delays, said in October it was in talks with
major shareholders and creditors regarding a potential
recapitalisation of the group, and was also in discussions to
sell non-core operations.
The sale of Premier Sports is subject to regulatory
approval. Until then, subscribers in Britain can continue to
watch the same content on Viaplay's platforms, the spokesperson
said.
(Reporting by Anna Ringstrom, Editing by Deepa Babington,
Sharon Singleton and Alison Williams)
((anna.ringstrom@thomsonreuters.com;))