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[Tripon]

Turtle Entertainment, operating as ESL, one of the longest-running organizations in esports, has sold a 74% stake in the company to Swedish-based entertainment outfit Modern Times Group for just over $86 Million in cash, both entities have announced.

ESL founders and management, including current CEO Ralf Reichert and Chairman Jens Hilgers, will retain the remaining 26% and continue their current positions at the company. Closing of the transaction is subject to local regulatory approvals.

MTG, who runs multiple television channels across ten countries in Europe, is already present in the esports market with its Viagame.com platform that has hosted and broadcast tournaments across Hearthstone, Counter-Strike, and Dota 2. MTG says the investment in ESL is in line with the company's strategy to compliment its linear and on-demand video services. MTG offered up its history of building TV and online audiences for major international sports brands.

"Esports is fast becoming one of the most watched and passionately followed global sports categories amongst younger audiences", said MTG President and CEO Jørgen Madsen Lindemann in a statement. "At MTG, we love sports and we love sports fans. Our TV channels and platforms are home to the world’s leading sports brands, and are watched by typically young audiences. There are now almost as many gamers in the world as traditional sports fans, and esports was almost as big as ice hockey in 2014 in terms of number of enthusiasts. However, the average revenue generated per esports enthusiast in 2014 was just over $2, compared to $56 for traditional sports fans, so this global phenomenon has tremendous potential.

Turtle boasts its current close relationship with major game publishers and developers, with the majority of the company's revenue coming from sponsorship and advertising of live events, online league operations, and broadcast rights. Turtle expects to grow its revenue by 50% in 2015 to upwards of $55 Million, reporting an EBITA profit for the year.

http://www.thescoreesports.com/news/2699

 

[Art Vandilay]

This should be added to the Sweden is OP thread

 

[Tripon]

This should be added to the Sweden is OP thread

Maybe they are on to something.