MSGS - Madison Square Garden Sports merging esports division with NRG

2023-04-06 17:30:28 ET

• Madison Square Garden Sports ( NYSE: MSGS ) is combining its Counter Logic Gaming esports operations with gaming/entertainment company NRG.
• That will result in a company led by NRG founder/CEO Andy Miller, and MSG Sports (which held a controlling interest in Counter Logic Gaming) will hold a noncontrolling equity interest in the combination.
• The new company will host esports teams in leagues including League of Legends, Valorant, Overwatch, Apex Legends, and Rocket League.
• They'll also take advantage of NRG's Full Squad Gaming digital media brand, which taps a following of millions on social media platforms.
• "NRG is a leading professional gaming and entertainment company with championship teams and innovative content," said MSG Sports Chief Operating Officer David Hopkinson. "This transaction has brought together premier esports teams with a track record of success and allows MSG Sports to remain a significant investor in the esports industry."

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