Czech firm PPG Group acquires minority stake in Viaplay
Czech investment firm PPG Group has acquired a minority stake in Norwegian media firm Viaplay, The Desk has learned.
Viaplay Group is a Swedish media company that operates the Viaplay subscription streaming television service. The company also operates around a dozen free-to-view television channels in Denmark, Norway and Sweden, as well as pay television channels in Finland, the Netherlands and the United Kingdom. Viaplay is headquartered in Stockholm.
Czech investment firm PPG Group has acquired a minority stake in Norwegian media firm Viaplay, The Desk has learned.
A restructuring of its business will also see Viaplay exit the U.K., U.S. and Canadian markets.
Viaplay has begun issuing pink slips to workers around the globe, a move that could see the elimination of as many as 1,000 jobs.
Viaplay has revamped its executive team and launched a new business strategy focused on its Nordic operations.