A Parent Media Company (APMC), the owners of streaming services Victory Plus and Kidoodle.TV, is being placed in receivership after one of its largest creditors told a Canadian court this week that the company faces the likelihood of insolvency.
TriWest Capital Partners, which invested in APMC four years ago, asked a Canadian court on Thursday to appoint AlixPartners Restructuring as the company’s receiver. The filing follows a rapid deterioration at Victory Plus, APMC’s free sports streaming service.
Victory Plus launched in September 2024 with rights to stream games from the Dallas Stars and Anaheim Ducks of the National Hockey League. The service expanded in 2025 with Texas Rangers baseball and more than 50 National Women’s Soccer League matches, alongside other sports programming.
Those expansion efforts began to reverse this summer: The Texas Rangers ended their streaming agreement with Victory Plus in July, with the Sports Business Journal reporting that missed rights payments were behind the decision. The National Women’s Soccer League also terminated its agreements with the service that month.
Victory Plus Chief Executive Officer Neil Gruninger left the company soon afterward. Multiple reports this week said the platform was winding down operations.
The financial strain has also affected Kidoodle.TV, the children’s streaming service APMC launched in 2014. Kidoodle started as a subscription service before moving to an advertising-supported model in 2018. The platform built an audience of between 16 million and 22 million monthly active users and expanded into more than 150 territories.
Kidoodle.TV remains operational, though the receivership process creates uncertainty around its future. In Canada, the service carries licensed programming including “Paw Patrol,” “Franklin,” “Pocoyo,” “123 Number Squad!” and “Sesame Street,” along with content from Dude Perfect.
TriWest Capital Partners and A Parent Media Co had not publicly commented on the receivership application, though some current and former employees did post about the matter on social media this week.
“By now you’ve probably seen it: APMC and Kidoodle.TV are heading into receivership,” Brenda Bisner, the Chief Content Officer at APMC, wrote in a post on Friday. “It’s real, and it’s public. It is not a bad dream.”
In an interview with a trade publication, Bisner said her and other C-level executives were dismissed in mid-August, and the rest of the company’s workforce was laid off at the end of the month.
