Major League Gaming Secures $10 Million in Series A Financing From Ritchie Capital to Build World's First Professional Video Game League

Company Transforms Professional Video Gaming Into Mainstream Sports Media

Enterprise



Appoints Former TimeWarner Executive President & COO



Feb 22, 2006, 00:00 ET from Major League Gaming (MLG) Inc.

    NEW YORK, Feb. 22 /PRNewswire/ -- Major League Gaming (MLG) Inc., the
 world's first professional video game league, today announced that it has
 secured $10 million in series A funding from Ritchie Capital. The financing
 will help the company continue to transform competitive video game play into a
 mass market, global, sports media business. The company also announced that
 Matthew Bromberg, former General Manager of Moviefone and AOL Games, has
 joined the company as President and COO.
     By elevating video game competition to the level of professional sport,
 MLG enables a large and growing community of fans and a roster of top sponsors
 to connect with -- and celebrate -- the global video game revolution. MLG
 produces an annual 7-city pro tour and championship; exclusively manages a
 roster of the top gamers in the world; and produces online and
 broadcast-quality programming that showcases MLG pros and this exciting new
 sports entertainment phenomenon.
     "An industry with the broad participation and profound cultural impact of
 video gaming demands a more structured media-business involvement to support,
 expand, and energize it," said Tom Crowley, Managing Director, Ritchie Capital
 Ventures. "We believe that MLG is uniquely positioned to deliver on the
 player, fan, and sponsor requirements for legitimate, global, video game
 competition across all live and media platforms."
     MLG is poised to become the first major media company that arises out of
 the video game industry, creating new opportunities for players, developers,
 publishers, media partners, and advertisers. MLG aims to shape the excitement
 and enthusiasm around competitive gaming into the first major video game
 entertainment brand. By packaging video game competition for the mass market,
 the company will provide all of these stakeholders a direct connection with
 the 168 million Americans who play video games today.
     "From the very beginning, we've been focused on creating a great
 competitive experience for players and fans, and a compelling business
 opportunity for sponsors," said Mike Sepso, co-founder and CEO of MLG. "This
 financing will drive rapid expansion of a true media business that will
 package video game competition for the mass market and provide great upside
 for everyone who loves this industry."
 
     Former TimeWarner Exec Matthew Bromberg Joins MLG
     Matthew Bromberg has joined MLG as President and COO, and will focus on
 building out MLG's media properties business. Prior to joining the company, he
 spent six years at Time Warner, first as general manager of MovieFone and then
 as the general manager of AOL Games. While heading up the MovieFone business,
 it became the number one movie site in the world, according to MediaMetrix. At
 AOL, Games was the most popular service after e-mail and instant messaging.
 Matthew transformed the business into a significant driver of advertising
 revenue and transaction and premium service fees for AOL. His initiatives
 included an expansion of the core business beyond web games to include
 offerings for PC and console gamers, with a focus on creating enhanced
 video-based offerings for broadband consumers.
     "We're excited to have Matthew join the executive team and help us
 transform this successful business into a global entertainment brand," said
 Sundance DiGiovanni, co-founder of MLG. "Matthew has a deep understanding of
 how to coalesce consumer passion into multi-faceted, long-term businesses and
 that's exactly what we're building."
     Previously, Matthew was at CMP Media, most recently as Publisher and
 General Manager of the TechWeb Network. He also worked for Steven Brill as
 Deputy Publisher at American Lawyer Media/Court TV. He has a B.A. in English
 from Cornell University and a J.D. from Harvard Law School.
 
     About Ritchie Capital
     Ritchie Capital is a diversified alternative asset management firm
 established in 1997 with interests in hedge funds, commodities, private
 equity, venture capital, insurance, energy and real estate and with offices in
 Chicago and Geneva IL, New York, London, Bermuda, Hong Kong and Menlo Park,
 CA. Through Ritchie Capital Ventures, the firm invests in early stage
 companies in the energy, biotech, healthcare, information technology and
 digital media sectors. Visit Ritchie Capital on the web at
 www.ritchiecapital.com.
 
     About MLG (Major League Gaming)
     MLG is the world's first professional videogame league, creating new
 opportunities for players, developers, publishers, media partners, and
 advertisers. MLG aims to shape the excitement and enthusiasm around
 competitive gaming into the first major video game entertainment brand. With
 the support of major sponsors, we produce a pro tour that in 2006 will make
 7 stops in major cities across the U.S.  We've signed the best gamers in the
 world to exclusive deals. We're producing a variety of online and
 broadcast-quality programming that showcases our pros and this exciting new
 sports entertainment phenomenon. More information can be found at
 www.mlgpro.com.
 
     MLG 2006 pro tour dates:  New York (March 24-26); Dallas (April 21-23);
 Atlanta (June 2-4); Los Angeles (July 14-16), Philadelphia (August 25-27);
 Playoffs-Chicago (October 6-8); National Championship -- Las Vegas (November
 17-19).
 
 

SOURCE Major League Gaming (MLG) Inc.
    NEW YORK, Feb. 22 /PRNewswire/ -- Major League Gaming (MLG) Inc., the
 world's first professional video game league, today announced that it has
 secured $10 million in series A funding from Ritchie Capital. The financing
 will help the company continue to transform competitive video game play into a
 mass market, global, sports media business. The company also announced that
 Matthew Bromberg, former General Manager of Moviefone and AOL Games, has
 joined the company as President and COO.
     By elevating video game competition to the level of professional sport,
 MLG enables a large and growing community of fans and a roster of top sponsors
 to connect with -- and celebrate -- the global video game revolution. MLG
 produces an annual 7-city pro tour and championship; exclusively manages a
 roster of the top gamers in the world; and produces online and
 broadcast-quality programming that showcases MLG pros and this exciting new
 sports entertainment phenomenon.
     "An industry with the broad participation and profound cultural impact of
 video gaming demands a more structured media-business involvement to support,
 expand, and energize it," said Tom Crowley, Managing Director, Ritchie Capital
 Ventures. "We believe that MLG is uniquely positioned to deliver on the
 player, fan, and sponsor requirements for legitimate, global, video game
 competition across all live and media platforms."
     MLG is poised to become the first major media company that arises out of
 the video game industry, creating new opportunities for players, developers,
 publishers, media partners, and advertisers. MLG aims to shape the excitement
 and enthusiasm around competitive gaming into the first major video game
 entertainment brand. By packaging video game competition for the mass market,
 the company will provide all of these stakeholders a direct connection with
 the 168 million Americans who play video games today.
     "From the very beginning, we've been focused on creating a great
 competitive experience for players and fans, and a compelling business
 opportunity for sponsors," said Mike Sepso, co-founder and CEO of MLG. "This
 financing will drive rapid expansion of a true media business that will
 package video game competition for the mass market and provide great upside
 for everyone who loves this industry."
 
     Former TimeWarner Exec Matthew Bromberg Joins MLG
     Matthew Bromberg has joined MLG as President and COO, and will focus on
 building out MLG's media properties business. Prior to joining the company, he
 spent six years at Time Warner, first as general manager of MovieFone and then
 as the general manager of AOL Games. While heading up the MovieFone business,
 it became the number one movie site in the world, according to MediaMetrix. At
 AOL, Games was the most popular service after e-mail and instant messaging.
 Matthew transformed the business into a significant driver of advertising
 revenue and transaction and premium service fees for AOL. His initiatives
 included an expansion of the core business beyond web games to include
 offerings for PC and console gamers, with a focus on creating enhanced
 video-based offerings for broadband consumers.
     "We're excited to have Matthew join the executive team and help us
 transform this successful business into a global entertainment brand," said
 Sundance DiGiovanni, co-founder of MLG. "Matthew has a deep understanding of
 how to coalesce consumer passion into multi-faceted, long-term businesses and
 that's exactly what we're building."
     Previously, Matthew was at CMP Media, most recently as Publisher and
 General Manager of the TechWeb Network. He also worked for Steven Brill as
 Deputy Publisher at American Lawyer Media/Court TV. He has a B.A. in English
 from Cornell University and a J.D. from Harvard Law School.
 
     About Ritchie Capital
     Ritchie Capital is a diversified alternative asset management firm
 established in 1997 with interests in hedge funds, commodities, private
 equity, venture capital, insurance, energy and real estate and with offices in
 Chicago and Geneva IL, New York, London, Bermuda, Hong Kong and Menlo Park,
 CA. Through Ritchie Capital Ventures, the firm invests in early stage
 companies in the energy, biotech, healthcare, information technology and
 digital media sectors. Visit Ritchie Capital on the web at
 www.ritchiecapital.com.
 
     About MLG (Major League Gaming)
     MLG is the world's first professional videogame league, creating new
 opportunities for players, developers, publishers, media partners, and
 advertisers. MLG aims to shape the excitement and enthusiasm around
 competitive gaming into the first major video game entertainment brand. With
 the support of major sponsors, we produce a pro tour that in 2006 will make
 7 stops in major cities across the U.S.  We've signed the best gamers in the
 world to exclusive deals. We're producing a variety of online and
 broadcast-quality programming that showcases our pros and this exciting new
 sports entertainment phenomenon. More information can be found at
 www.mlgpro.com.
 
     MLG 2006 pro tour dates:  New York (March 24-26); Dallas (April 21-23);
 Atlanta (June 2-4); Los Angeles (July 14-16), Philadelphia (August 25-27);
 Playoffs-Chicago (October 6-8); National Championship -- Las Vegas (November
 17-19).
 
 SOURCE  Major League Gaming (MLG) Inc.