Premier Sports Reclaims UK Business from Viaplay Amid Strategic Reorganization
Premier Sports has successfully negotiated the reacquisition of its UK operations from Viaplay. This move comes after Premier Sports sold its sports channel network to the Nordic streaming entity the previous year.
Last year, Viaplay incorporated Premier Sports into its fold, acquiring its sports broadcasting rights and channels. This acquisition was a strategic step in Viaplay’s entry into the UK’s broadcasting sector. The transaction valued Premier Sports at approximately £30 million ($37.96 million), considering both cash and debt.
With this acquisition, Viaplay became the official UK broadcaster for various sports properties, including La Liga, the United Rugby Championship (URC), and Scottish soccer’s domestic cup competitions. These additions complemented Viaplay’s existing UK portfolio, which featured the National Hockey League (NHL) and international soccer matches involving teams from Scotland, Northern Ireland, and Wales.
However, Viaplay recently withdrew from the UK market to concentrate on its primary markets in the Nordics and the Netherlands. This decision came amid challenges such as high expansion costs, dwindling subscriber numbers, reduced advertising income, and organizational changes, including leadership alterations and restructuring.
Last month, Viaplay revealed it was considering the sale of certain international operations deemed non-essential. Premier Sports is likely part of this divestiture, with its two channels expected to resume operations in the upcoming year, pending regulatory approval.
Premier Sports will continue broadcasting through Sky Virgin and Prime in the interim. Additionally, the company plans to launch its streaming service in early 2024.
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