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Forum » Competitive » Competitive eSports
Joined: 10th Jun 2014
Rank: Site Owner
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1st Jan 2016

( copied from  )

2015 ended with some shocking news for the hardcore gamers.

Rumors, and many of them, have been flying around the Internet that the eSports giant MLG / Major League Gaming has sold the majority of its assets to Activision for $46 million.

 MLG was founded in 2002 and in 2006 it became the 1st platform to bring console gaming to the forefront with Halo 2, a Pro Series that was broad casted by the USA Network on Boost Mobile MLG Pro Circuit.

That was the major leap in Pro Gamers. From that point several games could be played via MLG platform and even those gamers that were not backed could have a chance to become a Pro Gamer.

 From 2012 to 2015 MLGs' networks saw a tremendous growth of 600% in its viewers. That is 200% growth per year average.

 This, however, was not enough to keep it out of financial trouble.

(taken from the "Asset Purchase Agreement" )

"$31,000,000 of the cash purchase price was paid to or on behalf of the Corporation, or used to discharge certain liabilities of the Corporation on December 22, 2015"

 This does not include all the share holders of MLG either and several were not even notified and starting hearing about the news just like everyone else.

 One shareholder colorfully stated "I got (screwed) on the stock" and this is probably not the last remark we will hear on the matter from shareholders.

 Already on the owners name has been changed to Activision Blizzard and from what we understand MLGs' CEO Sundance DiGiovanni has been replaced with former CFO Greg Chisholm.

 With any major "buy out" there will be so bumps in the road as restructuring will take effect or MLG will be wiped out all together.

 Neither company has released any type of statement on the matter, nor do we expect to hear anything until next week.

Sgt Recoil99

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Last Edit: 1st Jan 2016 by SGT RECOIL99
Joined: 9th Jul 2014
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1st Jan 2016

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Last Edit: 1st Jan 2016 by Koojo
Forum » Competitive » Competitive eSports
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