Chinese live-streaming platform Huya has today (Monday) agreed a strategic joint venture with Swedish media company Modern Times Group (MTG) that will see it acquire a minority stake in the latter’s esports organisation, ESL.
Huya, which is backed by Chinese media giant Tencent and has a strong interest in esports content, will acquire $30m (€27.4m) worth of primary and secondary shares in ESL in a deal that grants the company a pre-money enterprise value of $425m.
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