Modern Times Group (MTG)-owned esports outfit ESL Gaming and the German Football League (DFL) have announced a partnership to develop a professional Virtual Bundesliga (VBL). The VBL was one of the first football esports leagues when it launched in 2012 in collaboration with EA Sports, and was the first to be launched by a […]
Swedish Modern Times Group (MTG) has announced the merger of its esports brands ESL Gaming and DreamHack. ESL Gaming is the world’s largest esports brand while DreamHack is described by MTG as “the premier gaming lifestyle company”. MTG acquired the pair in 2015, and has announced their merger in order “to increase competitiveness, accelerate products […]
Modern Times Group (MTG) has named its chief financial officer Maria Redin as president and CEO with immediate effect. The appointment follows the July resignation of Jorgen Madsen Lindemann, who will continue to act as an adviser to the company until the end of his notice period. MTG has meanwhile named Lars Torstensson as its […]
Modern Times Group (MTG)-owned esports outfits ESL and DreamHack have struck a three-year streaming agreement with leading esports streaming service Twitch that will seeesports tournaments organized by the pair live streamed exclusively on Twitch in 2021 and 2022. As part of the partnership, Twitch will become a centralised hub for streaming ESL and DreamHack competitions, […]
Modern Times Group has sold 100% ownership of Zoomin, its youth-oriented digital production outfit, to Azerion, a Dutch-based media and entertainment technology company. Zoomin turned in net sales of SEK50 million (€4.6 million) last year and EBITDA of negative SEK34 million. MTG said that as a result of the deal, it would post a net […]
Modern Times Group (MTG) has unveiled plans for a major new esports tour, the ESL Pro Tour, as a joint initiative from ESL and DreamHack. MTG is pitching the event as the world’s largest Counter-strike: Global Offensive (CS:GO) circuit, which willlink over twenty CS:GO tournaments and leagues on five continents and feature an aggregate prize […]
Modern Times Group (MTG) has signed up to create a strategic joint venture as part of a deal that will see Chinese game live streaming platform Huya acquire a minority stake in MTG’s esports portfolio company ESL. MTG said that the deal, if completed, will further strengthen ESL’s position as the leading and largest esports […]
Modern Times Group (MTG)-owned gaming outfit Kongregate’s CEO and co-founder Emily Greer is leaving the company to pursue a new gaming venture with the potential backing of Kongregate’s parent company. MTG is in discussions to invest in her new company through its VC fund backing gaming startups. Greer co-founded Kongregate with her brother Jim in […]
Modern Times Group (MTG) has completed the sale of its 95% majority stake in Nova Broadcasting Group in Bulgaria to local buyer Advance Media Group. The all-cash transaction game Nova an enterprise value of €185 million. MTG said it will use the proceeds of the sale to further develop its global digital entertainment business […]
MTG’s sale of its 95% shareholding in Bulgaria’s Nova Broadcasting Group to Advance Media Group has received regulatory approval and is expected to close in April 2019. The deal values Nova at €185 million (SEK 1,917 million) and will produce a net capital gain of approximately SEK 1,300 million. MTG said it will use the sale […]
