Major League Gaming Forced To Sell All Assets To Activision

4.4
Well, guess it's time to try some new ownership.

For a while there, it looked like Major League Gaming would be the dominating presence in the world of eSports. But after a series of financial issues, MLG - as we knew it - is no more.

According to a new report, MLG has sold off its assets to mega game publisher Activision Blizzard; the MLG board of directors voted to approve the sale of $46 million on December 21. Stock holders could be out in the cold on this one, too, if the $46 million isn't enough to cover MLG's outstanding debts. There's no telling how the organization will carry on from here but with a new CEO and a powerful owner in Activision, perhaps eSports will be seeing that "MLG" logo for a while longer.

Some speculate that the majority of the sale will go towards paying off MLG’s debts, leaving little to go around for the remaining stockholders. MLG has filed for multiple debt financing rounds this year alone, for a sum of over $6 million.

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Related Forum: PC General Forum

Source: http://www.psxextreme.com/ps4-news/4544.html

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"Major League Gaming Forced To Sell All Assets To Activision" :: Login/Create an Account :: 38 comments

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iShanePosted:

I'm glad as pro gamers who were on contracts with them were forced to stream on MLG.TV instead of Twitch

ReevyPosted:

What a great start to the year! ;p

Jay_Posted:

Thank god mlg was cancer and almost destroyed competitive gaming

elegostPosted:

They deserve to go out of business after what they did to halo! or atleast sundance needed removed. You don't simply remove the game that started you from the ground because it sucks. They made no attempt with 343i to keep it competitive.
Sigh oh well CS:GO is better anyways..

DeluxeHazardPosted:

What a poor start of the new year for MLG.

NodusPosted:

I'll always remember watching the Halo 3 MLG streams and always will love Str8 Rippin best Halo MLG team in my opinion

XboxPosted:

Damn this sucks. I've been knowing of MLG ever since I started playing CoD because I use to do Gamebattles (GB).

To be honest I probably own every MLG gamer picture pack on Xbox lol.

gownPosted:

From what I read, MLG just has a new owner. As lof as they can afford to keep it running we will still see MLG. Hopefully the name lives on for the rest of competitive gaming.

HippieSabotagePosted:

Wow can't believe MLG is no more pretty much

PintPosted:

Dont really mind as long as cod champs keeps going


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