According to a new report “substantially all” assets of Major League Gaming have been sold by the company to Activision Blizzard, the sale is said to follow an internal company restructure. A public confirmation has not yet been made but a purported letter distributed to stockholders has leaked online which mentions that Major League Gaming’s board has decided to sell the company’s assets to Activision Blizzard for $46 million.

For those who are unaware Major League Gaming has been a dominant eSports coming for quite some time now, particularly in the competitive gaming scene in North America, but over the years, it lost many of its partnerships and even a chunk of its fan following to similar companies.

The letter which is said to reveal the details of this deal also mentions that Major League Gaming CEO Sundance DiGiovanni has stepped down as part of the internal restructuring and that CFO Greg Chisholm is taking that top position. It doesn’t reveal whether the assets that have been offloaded to Activision will be made part of its eSports division that was only founded last year with Mike Sepso, the co-founder of MLG.

As far as the future of Major League Gaming is concerned the major change that has taken place casts a shadow of doubt about its future potential.

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