OSLO, Dec 1 (Reuters) – Struggling Swedish streaming
company Viaplay on Friday said it planned to raise 4
billion Swedish crowns ($380 million) in new equity, write down
2 billion crowns in debt and renegotiate the terms of debt
totalling 14.6 billion crowns.

Under pressure to stabilise its business as rising living
costs dent consumer demand, Viaplay in June replaced its CEO and
has repeatedly warned of a weakening business environment that
has sent its share price tumbling 88% year-to-date.

The plan is subject to support and approvals by
shareholders, debt providers and bondholders, Viaplay said in a
statement.

“The Board has carefully evaluated various alternative
solutions and believes that the coherent recapitalisation
programme is the preferred way to secure the survival of Viaplay
Group given the current circumstances,” the company said.

($1 = 10.4714 Swedish crowns)
(Reporting by Marta Frckowiak and Terje Solsvik; Editing by
Tom Hogue and Jacqueline Wong)