Esports and media holding company Enthusiast Gaming has sold its media assets to an unnamed company for CAD $6.8m (£4.56m)
Specifically, Enthusiast Gaming has sold Destructoid, Escapist Magazine, Operation Sports, PC Invasion, Siliconera and Upcomer.
According to a report by Journalist Jacob Wolf, the buyer of the assets was gaming media company GAMURS Group, the owners of esports publication Dot Esports.
Earlier in the year Enthusiast notably laid off a large number of Upcomer’s staff and even received public criticism from its own investors, something that is rarely seen in any industry. In addition, some Enthusiast Gaming staff even wrote a letter asking for CEO Adrian Montgomery to resign.
For the first half of 2022, Enthusiast recorded a sizeable $26m (~£21.56m) loss. The sale of assets is a move that will see Enthusiast replenish its cash supplies somewhat. Enthusiast shared via a release that the price represents approximately 4.5x the revenue of all websites sold.
Montgomery, Enthusiast Gaming’s CEO, commented on the decision by stating: “The future of gaming content is video, streaming and interactive content with cross-platform viewership capabilities.”
Montgomery also added that the sale will allow Enthusiast to focus on its core business capabilities such as Addicting Games Platform, Luminosity Gaming and other ventures. This sale marks the end of Enthusiast’s involvement with traditional esports media.
On the other hand, if GAMURS Group is indeed the buyer of all of these properties, the company has increased the number of publications under its umbrella dramatically. GAMURS currently owns 10 esports, gaming and entertainment publications, notably Dot Esports.
