Crisis-hit Viaplay postpones quarterly report – E24

Crisis-hit Viaplay postpones quarterly report – E24

The electricity company was supposed to publish its delayed quarterly report at 7 p.m.

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The third-quarter results were actually supposed to be presented on October 24, but were postponed due to talks Viaplay is having with its largest owners about recapitalizing the company.

The company then decided that it would be filed on Wednesday at 7 a.m., but one hour before that, Viaplay informed that it had postponed the report again.

The quarterly report will now be submitted on Thursday 30 November following Stockholm stock market closesStockholm stock market closesThe Stockholm Stock Exchange closes at 5:30 p.m. the company writes in press release.

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Schibsted contributors can get Viaplay answers

“This is to continue discussions with the company’s largest shareholders, lenders and bondholders regarding the potential recapitalization of Viaplay Group,” the company wrote.

Viaplay is facing major financial problems, which has already become known this summer. The company lowered its forecast for 2023, announced widespread layoffs, and the resignation of the CEO with immediate effect. In July, Viaplay announced that it was laying off more than 25% of its employees, and that they were considering selling the entire company.

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Schibsted’s profits can be enormous

In the fall, Schibsted surprised by buying 10% of the crisis-hit company, at that time for an investment amount of approximately 400 million Swedish krona. However, Schibsted has no intention of taking full control of Viaplay, as the CFO previously said. In the third quarter, the company incurred a loss of $96 million related to the market value of the purchase.

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E24 is a wholly owned subsidiary of the Schibsted Group. Some E24 journalists own shares in Schibsted through the group’s share savings scheme.

Dalila Awolowo

Dalila Awolowo

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