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OverActive Media
FormerlyThe Ledger Group
TSX-V:OAM
Founded2018
Key people
Adam Adamou (CEO)
RevenueIncreaseCA$15.7 million(2023)
Increase−CA$12.5 million(2023)
Total assetsDecreaseCA$69.4 million(2023)
Total equityDecreaseCA$35.3 million(2023)
Subsidiaries
WebsiteOfficial website
Footnotes / references
[1]

OverActive Media(OAM), previously known asThe Ledger Group,is aesportsandentertainment companythat fields teams across multiple esports titles through its subsidiaries, including theOverwatch LeagueandCall of Duty League.They also own esports organizationMAD Lions,KOI, and Movistar Riders that compete inLeague of Legendsas part of theLeague of Legends European ChampionshipandValorantin theValorant Champions TourEMEA.

History

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OverActive Media's was originally branded as The Ledger Group, a Toronto-based group focused onblockchain-enabled companies.[2]In April 2018, the company announced that it would look to expand inesportsfranchises. The Ledger Group went on to make investments in Askott Entertainment andEnthusiast Gaming,and after a $1.5 million investment inSplyce,they shifted from an investment platform to an ownership platform and rebranded to OverActive Media.[3][4]In 2018, OAM and Splyce agreed to purchase a team, later branded as theToronto Defiant,in theOverwatch Leaguefor the league's upcoming 2019 season.[2]On November 21, 2018, OAM announced that it entered anagreement in principleto acquire Splyce.[5]In 2019, OAM purchased a franchise spot in Activision-Blizzard'sCall of Duty League,establishingToronto Ultra.[2]

In July 2020,ESPNreported that OverActive Media would be building a 7,000- to 10,000-seat esports arena atExhibition Placein Toronto to serve as the home arena to the Toronto Defiant and Toronto Ultra.[2]The report was confirmed in February 2021, as OverActive Media announced the venue. The $500 million project is expected to be the home arena for their esports teams, as well as host mid-sized music concerts and other events.[6]OAM was given full approval by theToronto City Councilas of December 16, 2021. The arena was expected tobreak groundin 2022 and was expected to be completed in 2025, but complications regarding the Overwatch League's decline means that the status of the arena is unknown.[7]

On November 8, 2023, OverActive Media announced that they had pulled the Toronto Defiant out of the Overwatch League, receiving CA$8.2million (US$6million) as part of an updated agreement from Activision-Blizzard.[8]Shortly after OAM's announcement, an OWL spokesperson confirmed that Activision-Blizzard would be transitioning Overwatch esports away from the OWL's franchise system and into a new ecosystem as the result of two-thirds of the organizations (including OAM) voting to leave, also part of the agreement.[9]

On January 4, 2024, OverActive Media executed aletter of intentto acquire Spanish esports organizations Movistar Riders and KOI. The assets to be acquired include all of KOI's esports assets and brands, including social media and intellectual property, and intends to unite the organizations under a single brand by the end of 2024. The deal also involves Movistar Riders' Founder Fernando Piquer and CEO Carlos Garcia-Acevedo taking on key roles within OverActive Media, and entering into service agreements with KOI co-foundersIbai LlanosandGerard Piqué.Upon the completion of the proposed acquisition, OverActive Media would have control over the following assets: Toronto Ultra, Toronto Defiant, MAD Lions KOI, and Movistar KOI. Once completed, the acquisitions are expected to addCA$10to $12 million in revenues in 2024.[10][11]

References

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  1. ^"OverActive Media Consolidated Financial Statements"(PDF).OverActive Media.April 29, 2024.RetrievedMay 2,2024.
  2. ^abcdWolf, Jacob (July 14, 2020)."Defiant, Ultra owners to build esports arena in Toronto".ESPN.RetrievedMarch 15,2022.
  3. ^Mitrevski, Lydia (April 25, 2019)."Splyce gains $1.5m investment from The Ledger Group".Esports Insider.RetrievedOctober 25,2019.
  4. ^Ashton, Graham (April 25, 2018)."The Ledger Group to Invest $1.5M in Splyce".The Esports Observer.Sports Business Journal.RetrievedOctober 25,2019.
  5. ^Hayward, Andrew (November 21, 2018)."Update: OverActive Media Group Fully Acquires Splyce".The Esports Observer.Sports Business Journal.RetrievedOctober 25,2019.
  6. ^Stern, Adam (April 7, 2021)."Overholt Says Vision for OverActive Media Group is Becoming Reality".The Esports Observer.Sports Business Journal.RetrievedMarch 15,2022.
  7. ^Czar, Michael (December 18, 2021)."OverActive Media talk about new forward-thinking Toronto esports venue".Upcomer.RetrievedMarch 15,2022.
  8. ^"OverActive Media Confirms Exit from the Overwatch League, Bolsters Balance Sheet by $16 Million CAD".OverActive Media.Retrieved7 January2024.
  9. ^Fudge, James (November 8, 2023)."Teams Vote to Exit Overwatch League".The Esports Advocate.RetrievedNovember 8,2023.
  10. ^Cater, Charlie (January 4, 2024)."OverActive Media Set to Acquire KOI & Movistar Riders".Esports Illustrated.RetrievedJanuary 14,2024.
  11. ^Nicholson, Jonno (January 4, 2024)."OverActive Media looks to acquire KOI, Movistar Riders".Esports Insider.RetrievedJanuary 14,2024.
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