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Viaplay Recap Plan Continues As CEE Producer Paprika Studios Exits Group
Viaplay’s Central and Eastern European production division Paprika Studios has exited the Scandinavian media group. A management buyout led by Paprika CEO Ákos Erdős will return the Budapest-…
A management buyout led by Paprika CEO Ákos Erdős will return the Budapest-based producer to its indie roots, and marks the latest chapter in Viaplay’s strategy to recover from a financially devastating 2023. Selling Paprika was among the plans floated last week as part of a recapitalization program at Viaplay, which is targeting double-digit profit margins in five years’ time. After replacing CEO Anders Jensen with former MTG boss Jørgen Madsen Lindemann, it also pulled out of the UK, U.S. and Baltic region and effectively stopped all spending on scritped originals, which had been a pillar of its strategy to launch a Scandi-owned global streaming service.
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