Activision Blizzard Took Over eSports Staple MLG for $46 Million

What many did not know and are in a bit of shock from, is this sudden transition and also the firing of former CEO Sundance DiGiovanni, while a former CEO has been brought in to replace DiGiovanni.

The deal between MLG and Activision resulted in lot of criticism from other stakeholders because most of the sum gained through the agreement will be used to pay off debts and loans.

What has been upsetting is that in recent memory MLG was the leading company for esports.

This has not come out from the official sources, but apparently MLG (Major League Gaming) has been bought over by Activision! The agreement was supposedly finalized without a stockholders’ meeting, a move that didn’t sit well with investors.

At the same time, Activision Blizzard becomes more very big. It started out hosting Call of Duty and Halo events before becoming a major player on the PC scene. It planned to open another eSports arena in China by 2017. Though, the company has not yet publically confirmed the report, it is expected to hear confirmation very soon.

Reports say that gaming giant Activision Blizzard purchased most of Major League Gaming’s assets in a deal valued at $46 million, effectively dissolving the eSports leader and forcing some organizational changes in MLG. The acquisition was approved by consent of shareholder consortium including Treehouse Capital LLC, Ritchie Opportunistic Trading Ltd., Oak Investment Partners, and Legion Capital Investments LLC-managed by Mike Sepso, co-founder of MLG and current senior vice president of e-sports at Activision Blizzard.

MLG has been around since 2002 and has been at the forefront of eSports over the years. The news that Activision Blizzard has purchased MLG for $46 million will basically mean that now, ESL has remained the main independent e-sports organization in NA.