Investments

Modern Times Group (MTG) acquires 74% of eSports company; Turtle Entertainment worth $76 million

Swedish digital entertainment company Modern Times Group (MTG) has acquired a major share for $76 million (74%) in German eSports-company Turtle Entertainment.

This was confirmed by Turtle Entertainment, parent company of the Electronic Sports League (ESL) and their subsidiaries, and Modern Times Group in an official joint press release. Both companies confirmed the rumors that had been circulating for weeks.

“When we founded ESL 15 years ago, our goal was to bring eSports to fans all around the world and establish it as a global sport. Today, eSports enjoys worldwide recognition and now, together with MTG, it is time to take eSports to the next level. We are excited to partner with MTG, who share our enthusiasm for the sport and bring an entrepreneurial commitment to help make this dream come true. MTG’s extensive operational network in over 100 countries and broadcast sports experience will help us bring ESL and eSports to many more places around the world, while allowing us to continue expanding on strong, strategic local partnerships. The ESL leadership team could not be more excited about accelerating the development of the entire eSports industry together with MTG for years to come.” so Ralf Reichert, Managing Director of Turtle Entertainment.

Modern Times Group (MTG) acquires 74% of eSports company; Turtle Entertainment worth $76 million
Swedish digital entertainment company Modern Times Group (MTG) has acquired a major share for $76 million (74%) in German eSports-company Turtle Entertainment.

This was confirmed by Turtle Entertainment, parent company of the Electronic Sports League (ESL) and their subsidiaries, and Modern Times Group in an official joint press release. Both companies confirmed the rumors that had been circulating for weeks.

“When we founded ESL 15 years ago, our goal was to bring eSports to fans all around the world and establish it as a global sport. Today, eSports enjoys worldwide recognition and now, together with MTG, it is time to take eSports to the next level. We are excited to partner with MTG, who share our enthusiasm for the sport and bring an entrepreneurial commitment to help make this dream come true. MTG’s extensive operational network in over 100 countries and broadcast sports experience will help us bring ESL and eSports to many more places around the world, while allowing us to continue expanding on strong, strategic local partnerships. The ESL leadership team could not be more excited about accelerating the development of the entire eSports industry together with MTG for years to come.” so Ralf Reichert, Managing Director of Turtle Entertainment.

Jørgen Madsen Lindemann, President and CEO of Modern Times Group stated: “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. eSports is fast becoming one of the most watched and passionately followed global sports categories amongst younger 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 USD 2, compared to USD 56 for traditional sports fans, so this global phenomenon has tremendous potential. This investment is a key milestone in our digital development. We look forward to working with the talented Turtle team to grow the global eSports community, and to make this exciting content even more broadly available online and on TV.”

The Modern Times Group is the first commercial TV station in Sweden and is now operating in several Nordic and Baltic countries with radio- and tv-stations. With the purchase of Turtle Entertainment, MTG could promote esports even more. With the ESL, Turtle Entertainment operates one of the world’s most successful eSports brands. They host high-coverage eSport-events such as ESL One, the Intel Extreme Masters and the ESL Cup. The company was founded in 2000 and currently employs more than 170 people.

The management of Turtle Entertainment and ESL will continue managing commercial operations around the Electronic Sports League (ESL) and have signed long-term employment contracts. The creative tasks for ESL products remain under the leadership of Michal Blicharz, acting from the American ESL office, and James Lampkin, who works at the headquarters in Cologne.

Related content:

Image source: ESL (eslgaming.com) / Photographer: Helena Kristiansson

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This blog is published by the ENPE Media GmbH, a German marketing and event agency located in Cologne, which focuses on conception, realization and supervision of events and marketing campaigns in eSports.

On this blog we cover marketing-relevant content within the eSports market. Additionally we introduce newcomers to the potentials, structures, risks and features of the eSports market.

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