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Canal+ Ups Stake In Viaplay To 29% As Scandi Outfit Rubberstamps Recap Program
Canal+ has officially upped its stake in Viaplay to 29% after the rubberstamping of the against-the-ropes Scandi outfit’s recapitalization program. The plan, which was first introduced to sha…
In June, CEO Andres Jensen stepped down with immediate effect due to the deteriorating financial situation and was replaced straight away by Jorgen Madsen Lindemann, the ex-CEO of Viaplay’s former parent company MTG. Lindemann has acted with haste, forging the brutal redundancy plan and pulling out of less crucial markets such as the UK, U.S. and Baltics, while massively reining in spending especially on splashy scripted originals. Vivendi-owner Bolloré has previous in terms of buying minority stakes and subsequently demanding board seats such as with French ad group Havas in the mid-noughties and Mediaset, the latter of which ended with a legal dispute.
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