Canal+ Group has taken a 12 per cent stake in beleaguered Nordic pay-TV operator Viaplay Group, announcing the deal in a brief statement.

No financial terms were revealed.

Earlier in the day, announcing the company’s Q2 results, Jørgen Madsen Lindemann, Viaplay President & CEO, said Viaplay was adopting a new strategy and plan, which included, but was not limited to, focusing on its core Nordic, Netherlands and Viaplay Select operations; implementing a new operational model; downsizing, partnering or exiting its other international markets; rightsizing and pricing its product offering in the Nordics; undertaking a major cost reduction programme; and conducting an immediate strategic review of the entire business to consider all options including content sublicensing, asset disposals, equity injections or the sale of the whole Group.

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Tags: Canal+ Group, Viaplay Group