The deal was signed over the holidays and it was worth US$ 46 million.
US.- Activision Blizzard is now the owner of Major League Gaming (MGL) and has control over the eSports coverage of its main titles. MLG’s Board of Directors approved the Asset Purchase Agreement, although online reports suggest that the company’s stockholders are not as thrilled with the news and it is not surprising. MGL had an important debt load and most of the amount of the sale will be allocated as payment, leaving very little for its shareholders. On the other hand, Delaware General Corporation Law determines that stockholders consent is not needed to take this kind of action.
One of MGL founders Mike Sepso left his position at MLG a few months back to become senior vice president of Activision Blizzard’s eSports division. MLG is a professional eSports outfit, which operates a live streaming service (MLG.tv) and organises live eSports tournaments.
Back in November, Activision Blizzard purchased King, the social gaming company which created the Candy Crush Saga, in a US$ 5.9 billion deal.