Schibsted buys 10% stake in media group Viaplay
13/09/2023 14:18
COPENHAGEN, Sept 13 (Reuters) - Norwegian media group
Schibsted SCHA.OL said on Wednesday it has bought a 10.1%
stake in Sweden's Viaplay VPLAYb.ST , sending shares in the
troubled Swedish media company up nearly 5% by 1316 GMT.
"Schibsted has a long history of investing in companies
close to our core that benefit from our strength, and of seizing
opportunities which arise in more uncertain times," Schibsted
CEO Kristin Skogen Lund said in a statement.
"Viaplay's strong position as a streaming provider in the
Nordics fits very well with our media operations, and we are
confident that we, as a financially focused shareholder, can
support value creation in the company," she added.
Vivendi's VIV.PA CANAL+ Group in July bought a 12% stake
in Viaplay, after the Swedish group announced a reorganisation
plan and job cuts affecting more than 25% of its staff.
Shares in Schibsted fell 5% by 1316 GMT on Wednesday.
(Reporting by Louise Breusch Rasmussen, editing by Terje
Solsvik)
((Louisebreusch.rasmussen@tr.com; +45 21 27 97 79))