Belarusian-set pic Mother Vera has picked up Locarno’s Creativity Media First Look Award, the biggest prize handed out by the festival’s industry section.
20.07.2023 - 16:23 / deadline.com
Canal+ has taken a minority stake in embattled Nordic outfit Viaplay Group, which this morning announced it was making 25% of its workforce redundant.
The French giant issued a press release in the last few minutes stating: “CANAL+ Group, leading pay-TV player present in Europe, Africa and Asia, announces its acquisition of a 12% stake in Viaplay Group, leading pay-TV player in the Nordic countries.”
Financials of the deal were undisclosed. Canal+ and Viaplay already have certain territory agreement in by which hundreds of hours of Viaplay’s content feature on the network in the likes of Austria and Poland.
Speaking earlier today during the unveiling of its Q2 results and strategic review, new Viaplay CEO Jørgen Madsen Lindemann revealed that the Scandi outfit was mulling a sale of either parts of the international Viaplay business, small stakes or the whole group.
Viaplay has been forced to retrench over the past few weeks following the immediate resignation of Lindemann’s predecessor amidst financial strife. It has now initiated a strategic review, announced the 25% layoffs and pulled its streaming efforts away from the likes of the U.S., UK and Germany.
Last month, Canal+ unveiled a 26% stake and staggered investment of $300M in Asian streamer Viu.
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Belarusian-set pic Mother Vera has picked up Locarno’s Creativity Media First Look Award, the biggest prize handed out by the festival’s industry section.
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Elsa Keslassy International Correspondent France’s Canal+ Group has acquired a 12% stake in Viaplay, the leading Scandinavian streamer which announced earlier today that it would cut 25% of its workforce. More to come.
“We have too much scripted content,” new Viaplay CEO Jørgen Madsen Lindemann said today as he was pressed by investors on the state of the embattled Nordic outfit’s finances and future sustainability.
Viaplay is letting go of more than 25% of its staff as it pulls streaming out of the U.S. and UK and mulls a sale.