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