MLG Assets Sold to Activision for $46 Million - Report

Major League Gaming has sold "substantially all" of its assets to Activision Blizzard for the price of $46 million, effectively bringing about an end to the esports company as it was once known. That's according to a report from esportsobserver.com, which says MLG called a special meeting on December 21 where the company's board of directors authorized a sale to the Call of Duty and World of Warcraft company.

As part of this change, MLG CEO Sundance DiGiovanni has reportedly exited the company, replaced in that role by Greg Chisholm. He was previously the CFO of MLG. MLG co-founder Mike Sepso left the company earlier this year and now works as an executive for Activision's newly formed esports division.

The sale was apparently done with less than 100 percent consent of MLG's stockholders, pursuant to a certain code of law. But it's supposedly not sitting well with everyone, according to the report. Head to esportsobserver to get all the details.

MLG was founded in 2002. It originally hosted Call of Duty and Halo events before branching out to PC games like World of Warcraft, StarCraft II, League of Legends, and Dota 2. The company is now building a 15,000-seat stadium on Hengqin Island, which is off the coast of popular gambling hot-spot Macau.

In October, a report claimed Yahoo was in "advanced" talks to buy MLG. A source familiar with the matter told GameSpot back then that reports about Yahoo buying MLG are "not true," however, though they did confirm that MLG and Yahoo held some discussions. These talks are no longer progressing, the source said.

We've contacted MLG for comment in an attempt to get more details and will update this post with anything we hear back.