French Canal+ announced on Thursday evening that it will buy a minority stake in the streaming service Viaplay. Viaplay’s share recovered on Friday.
Swedish streaming service Viaplay’s share recovered on Friday on the Stockholm Stock Exchange. The course rose by 33.6 percent during the trading day after it collapsed by 49 percent on Thursday.
The Canal+ group under the French media company Vivendi announced on Thursday evening that it will buy a 12 percent stake in Viaplay, which was in crisis.
Viaplay, which was in financial trouble, published its second quarter results report on Thursday. The streaming company made a loss of 570 million euros in the second quarter. The operating loss was 23.7 million euros.
Viaplay also said that its number of subscribers dropped by 14 percent in three months.
The company said in connection with the results announcement that it was laying off 25 percent of its staff and that it was considering selling the entire company or some of its operations.
in Finland Viaplay, which shows the NHL league, the Premier League, the skiing world cup and formula one, among others, has been criticized for raising prices.
Viaplay has blamed its financial problems on the rise in the cost of living and their effect on subscriber numbers and advertising sales.
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