Beasley Broadcast Group Acquires Overwatch Team

Beasley Broadcast Group (NASDAQ:BBGI), a company that operates 65 radio stations with an audience of 19 million listeners has acquired the Overwatch League’s Houston Outlaw Team for an undisclosed amount. Through a purchase from the Immortals Gaming Club, this acquisition is part of the company’s efforts to diversify revenue streams while leveraging its existing media assets.

As quoted in the press release:

“The acquisition of the Houston Outlaws furthers our revenue and cash flow diversification strategies. We believe the power of our media footprint, including 65 highly-rated radio stations in large- and mid-sized markets, combined with our 24/7 coverage of esports news, will allow us to build the value of the Outlaws franchise through a range of revenue sources, including ticket sales, advertising, sponsorship, licensing, e-commerce, and other partnerships.”

“The Houston Outlaws have a fantastic new ownership team and we’re excited to welcome the Beasley Media Group to the Overwatch League,” said Pete Vlastelica, president and CEO of Activision Blizzard Esports and Overwatch League commissioner. “We look forward to working with them and ensuring a smooth transition for the team, the players, and the fans. Outlaws fans are incredibly passionate and 2020 is going to be an exciting year for the entire league.”

Click here to read the full press release.