Viaplay has sold its UK business back to Premier Sports and revealed “the renegotiation of credit arrangements and the proposed injection of new equity into the Group” as it battles the economic downturn.
Following a backs-against-the-wall few months during which the former CEO stepped down in the midst of financial strife and almost one third of staff were subsequently laid off, the publication of the Nordic outfit’s Q3 results were delayed twice.
In a statement partnering this morning’s eventual results publication, CEO Jørgen Madsen Lindemann revealed that Viaplay’s non-core UK business is being sold back to Premier Sports just a year after it was acquired for £30M ($38M), subject to regulatory approval.
The UK business mainly incorporated the pay-TV broadcaster’s sports rights contracts including Spain’s La Liga soccer and channels along with a few technical staff who will return to Premier.
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