According to eSports Observer, the board of Major League Gaming, a pro gaming outfit in the United States, have approved a deal in which Activision Blizzard will purchase the majority of the company for $46 million. MLG has been in trouble for some time and has filed for debt financing during the previous year.
The sale was agreed by a less than unanimous decision by some, but not all of the stockholders, which is allowed under Delaware law. Stockholders who were in on the deal included Legion Capital Investments LLC, who are managed by Mike Sepso, co-founder of MLG and rather handily, current senior vice president of esports at Activision Blizzard.
According to eSports Observer, “Stockholders not in these categories are largely meeting the decision in disbelief. 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.”
Activision launched their own eSports division last year with ESPN CEO Steve Bornstein, so it looks like MLG may be be folded in to that.
Source:Â eSports Observer