A report by esportsobserver.com claims that Major League Gaming (MLG) has sold “substantially all” assets to Activision Blizzard for $46 million. Apparently, a meeting of MLG’s Board of Directors took place on December 21, in which an Asset Purchase Agreement was approved, granting Activision Blizzard majority of the company’s assets.
The website also shared an excerpt of the letter that went out to stockholders the next day, which you can check out below (click to enlarge/open in new window).
Reports also state that CEO Sundance DiGiovanni has been replaced by MLG’s former CFO, Greg Chisholm.
Stockholders are unhappy with the move, with one stating on condition of anonymity that he “got fucked on stock.” As for MLG, the future seems uncertain but the company has yet to provide an official statement on the matter.