MLG sold itself to Activision for $46 million. This surely means that MLG Halo is RIP. MLG is now MLC: Major League COD.
Don’t forget that Activision also published Destiny - it’s not just Call of Duty.
Forgive me if I’m wrong but I’m pretty sure competitive gaming exists outside of “MLG”.
Just in case the source is down, here is an imgur link.
Here is a copy of the article:
Major League Gaming, once the largest esports company in North America, is going out of business. In a special meeting on Dec. 21, MLG’s Board of Directors approved an Asset Purchase Agreement granting Activision Blizzard a large majority of MLG’s assets in exchange for $46 million.
The next day, a letter went out to stockholders informing them of the sale. We have included an excerpt below:
EXCERPT
In addition to these changes, CEO Sundance DiGiovanni has been removed from his role and replaced by Greg Chisholm, MLG’s former CFO.
The move was done as a “corporate action taken without a stockholders’ meeting by less than unanimous written consent of our stockholders,” allowed under Section 228(e) of the Delaware General Corporation Law.
The Asset Purchase Agreement was also approved by the written consent of the holders of a majority of the outstanding shares of the Corporation’s Series A Preferred Stock, Series B Preferred Stock, Series B-1 Preferred Stock, Series B-2 Preferred Stock and the Series A Common Stock, voting together as a single class on an as-converted to Series A Common Stock basis.”
Stockholders in this category include 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 esports at Activision Blizzard.
MLG, as we know it, is over.
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. MLG has filed for multiple debt financing rounds this year alone, for a sum of over $6 million. “I got -Yoinked!- on stock,” said an affected stockholder, who wanted to remain anonymous.
MLG steps down after leading the esports scene in North America for quite some time. For many years, the company successfully ran tournaments across the United States for StarCraft 2, Call of Duty, and other titles. MLG also announced that it was building an arena in China.
However, MLG has also taken on recent blows, such as when rival ESL was named as the tournament runner for the Call of Duty World League.
Only time will tell how this move affects other MLG ventures, such as the upcoming Counter-Strike: Global Offensive Major Championship in Columbus, OH. The only thing known for sure is that MLG, as we know it, is over.
> 2728966917079826;3:
> Forgive me if I’m wrong but I’m pretty sure competitive gaming exists outside of “MLG”.
Yeah, ESL But MLG Halo is dead.
Dang interested to see how this will effect halo
does this mean halo 6 will have to be focused on old-time gamers? (i dont mean elderly, i mean original-halo gamers)
Pretty sure that’s just a rumour. Only $46 million for the largest competitive scene in gaming? I call BS. The Halo tournament itself gets prize payouts of over a million just in itself…and have you seen how many games are signed up to MLG? The company is worth a lot more than that…unless i’m just bad with money.
Dodgy website too.
Even if it’s true, if ATV were to do some dumb -Yoink- they would pretty much be killing themselves involuntarily. No one would stand for it.
> 2533274964587104;8:
> Pretty sure that’s just a rumour. Only $46 million for the largest competitive scene in gaming? I call BS. The Halo tournament itself gets prize payouts of over a million just in itself…and have you seen how many games are signed up to MLG? The company is worth a lot more than that…unless i’m just bad with money.
> Dodgy website too.
> Even if it’s true, if ATV were to do some dumb -Yoink- they would pretty much be killing themselves involuntarily. No one would stand for it.
Also keep in mind, last year was the first year (being 2015) MLG had actually made profit since mid 2000’s. A lot of the 46mil is going to pay out debt MLG has.
Halo MLG isn’t dead. Companies take over other companies to make money. If they can make money off of hosting halo tournaments they will. There is nothing in that article about rebrandin MLG as activision blizzard, it will most likely be ran as its own company. That way if one or the other caves, it doesn’t drag the others down. It’s just a cash cow. Nothing more, nothing less.
> 2533274864816402;9:
> > 2533274964587104;8:
> > Pretty sure that’s just a rumour. Only $46 million for the largest competitive scene in gaming? I call BS. The Halo tournament itself gets prize payouts of over a million just in itself…and have you seen how many games are signed up to MLG? The company is worth a lot more than that…unless i’m just bad with money.
> > Dodgy website too.
> > Even if it’s true, if ATV were to do some dumb -Yoink- they would pretty much be killing themselves involuntarily. No one would stand for it.
>
>
> Also keep in mind, last year was the first year (being 2015) MLG had actually made profit since mid 2000’s. A lot of the 46mil is going to pay out debt MLG has.
Did you just get that from the article but? Or do other sources confirm this?
Totally cool if you are right just never knew of this.
> 2533275011491088;1:
> MLG sold itself to Activision for $46 million. This surely means that MLG Halo is RIP. MLG is now MLC: Major League COD.
Activision wouldn’t pay $46 million for an exclusively COD league. They could just make their own for a whole lot cheaper…
Halo on MLG (along with every other game on their) will be just fine…
besides, after an aquision, contracts still need to be honored.
I’m pretty sure it will be fine
Guys MLG Halo won’t be dead…as much as Activision owns COD, as long as there is an audience for Halo MLG, there will be Halo content (because that can make money for activision)… MLG is not what makes the difference in sales. And anyway, COD sells far more units than Halo to begin with, they are in the same genre, but not nearly the same league in terms of sales. Halo isn’t a threat. They both got their audiences.
The HCS will continue with or without MLG. MLG Halo has been dead since they dropped reach from the circuit.
> 2717573882290912;15:
> The HCS will continue with or without MLG. MLG Halo has been dead since they dropped reach from the circuit.
But it was coming back this year.
Yet another thing for activision to screw up. When I try to imagine Destiny being touted as a competitive shooter it just makes me sad.
Who really cares? Correct me if I am wrong but Halo hasn’t been in MLG for awhile now. Also isn’t 343 making their own “MLG” circuit so to speak. Isn’t that part of the reason they are selling req packs for a prize pool for it?
ESL was already dealing with a lot of the HCS anyway. Just means the NA qualifiers will be run by them now as well I guess.
Good, now when people say they are “MLG Pro” I can laugh even harder.