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Major League Gaming Set To Be Acquired By Activision Blizzard Inc
This deal essentially dissolves MLG as we know it, with MLG CEO Sundance DiGiovanni leaving his role and being replaced with the CFO, Greg Chisholm. But again as repeated above MLG is no more.
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What has been upsetting is that in recent memory MLG was the leading company for esports.
This has come as a shock to many, but since no official word has come from MLG or Activision yet, it would be wise to wait a while before taking it for granted.
As for the stockholders who didn’t agree to the sale, there’s not much they can do but stand and stare, as it seems much of the money from the sale will go towards paying off MLG’s considerable debts. At the time of its sale, MLG was also planning to open a similar arena in China by 2017. Though, the company has not yet publically confirmed the report, it is expected to hear confirmation very soon. 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.
Despite its influence in the world of eSports, MLG’s star had lost some of its luster over the past few years.
Major League Gaming (MLG) has been one of the biggest names in organized esports for nearly the entire history of the professional gaming industry, but now it looks like the tournament organizer may be selling off its brand to Activision Blizzard Inc for the sum of $46 million.
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Whether Activision Blizzard absorbs MLG into their own eSports division remains to be seen, but this move leaves ESL as the main independent eSports organization in North America.