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STOCKHOLM, Nov 30 (Reuters) – Crisis-hit Swedish streaming group Viaplay (VPLAYb.ST) said on Thursday it has agreed to sell Premier Sports in Britain to SSBL, from which it bought the TV channel last year.
Viaplay announced its entry into Britain in July last year with the acquisition of the channel, and unveiled plans to enter several new markets in the face of more competition from the likes of Netflix and HBO Max.
Slammed by a drop in demand, however, in July this year it said it would shift focus towards its core Nordic, Netherlands and Viaplay Select operations, while considering downsizing, partnering or exiting other markets.
“We have agreed to sell our British operations back to the previous owners SSBL Ltd (Premier Sports). This is in line with Viaplay Group’s strategy and plan that we presented in July,” a Viaplay spokesperson said.
The news was first reported by business daily Dagens Industri late on Wednesday.
Viaplay, which is due to report quarterly earnings later on Thursday after delays, said in October it was in talks with major shareholders and creditors regarding a potential recapitalisation of the group, and was also in discussions to sell non-core operations.
The sale of Premier Sports is subject to regulatory approval. Until then, subscribers in Britain can continue to watch the same content on Viaplay’s platforms, the spokesperson said.
Reporting by Anna Ringstrom, Editing by Deepa Babington, Sharon Singleton and Alison Williams
Our Standards: The Thomson Reuters Trust Principles.
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