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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Boss34Posted:

That does really suck for them. :/

vLunaPosted:

That really does suck man..

DontPosted:

Damn that sucks for them

junoPosted:

I knew this was gonna happen sooner or later because the gaming industry kinda took a shit.

iShooksPosted:

elegost 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..


Than halo? No. CS:GO Doesn't compare to halo at all. Halo is one of those games where you can play it all day with your friends without running out of things to do on that game. CS:GO Gets boring quick af.

350zGangPosted:

That kinda sucks for them i suppose. but within reason

EffectivePosted:

Lich This is what happens when your profits rely on Mountain Dew and Dorito fueld kids.


probably the funniest thing I've read all night.
But that's true :roll:

ProPosted:

I bet that they are gutted that they had to sell all of their assets :(

SavitarPosted:

"would be the dominating presence in the world of eSports"

That would never happen.

TaylorPosted:

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




Not necessarily, they just wouldn't be paid. There were pro players that used both.


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