Viaplay‘s Central and Eastern European production division Paprika Studios has exited the Scandinavian media group. A management buyout led by Paprika CEO Ákos Erdős will return the Budapest-based producer to its indie roots, and marks the latest chapter in Viaplay’s strategy to recover from a financially devastating 2023.
Selling Paprika was among the plans floated last week as part of a recapitalization program at Viaplay, which is targeting double-digit profit margins in five years’ time.
Terms of the agreement were not revealed. Paprika has been part of Viaplay since 2012, initially joining what was then known as Modern Times Group.
After Viaplay decided to focus on its Nordic and Netherlands operations and a content strategy based on premium sports, acquired films and series and local non-scripted productions, Viaplay offered Paprika management the chance to buy back the business.
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