Riot Games, the developer of League of Legends, has sold its remaining equity to Chinese online company Tencent Holdings. The news comes from an update to the studio's employment page, in which it announces new compensation plans for staffers as a result of the ownership.
"As a result of our continued growth and changing circumstances, we're shifting to a new structure to recognize and reward Rioters' contributions," the post states, "and that first involves a big change to our existing equity program.
"As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games."
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Now, thanks to Tencent's purchase, members of the studio will be able to participate in a "cash-based incentive program" that rewards them based on the company's overall success.
This is one of many changes the company has announced of late, both internally and for its most popular title. Major changes are coming to League of Legends in 2016, the company detailed earlier this fall, with the traditional sports world serving as major inspiration for the multiplayer online battle arena title's upcoming update.
Along with Riot Games, Tencent is an investor in Activision Blizzard and holds a stake in Epic Games, as well. The company also distributes the hugely popular mobile game Candy Crush Saga to Chinese audiences.
[Thanks, Tim!]
Comments
Well… No… But… Damn…. Sigh
By KimX on 12.16.15 6:37pm
And the company is also part of Sesame Credit, which is disturbing as hell. Guess I’m not giving Riot anymore money, sadly.
By joechip123 on 12.16.15 6:46pm
Did you just see the extra credits video? I was wondering if the community would notice…
By yazsh_ on 12.16.15 8:16pm
I saw it. I’m very concerned about what it could mean. I can’t support Riot Games anymore either.
By Troy_Costisick on 12.17.15 8:48am
I just watched it. Wow.. that’s some scary stuff. Like the speaker said: hopefully it’s not what it looks like…
By BreakingPoint0 on 12.17.15 9:55am
I don’t know why I find this news unpleasant.
By Flesseck on 12.16.15 7:32pm
Probably reminding you of this, I believe
By jamuszero on 12.16.15 8:08pm
Oh, mother of God.
By Flesseck on 12.17.15 9:32am
Can you beleive this image pertains primarily to the United States? These brands own many more companies globally – it would make the internet weep.
By Kilfaxi on 12.17.15 11:26pm
now how about an article pertaining to dota 2s new major patch…
we get enough random fluff information about league on this site.
(note that this article does not fall into the fluff category but just saying)
By Threevo V on 12.16.15 8:35pm
Polygon traditionally doesn’t cover patch notes.
By John Funk on 12.16.15 10:55pm
Tencent was the largest investor in Riot Games already wasn’t it? I’m sure this move changes things pretty significantly for people with a direct stake in Riot’s future but from a consumer perspective I don’t feel like this really changes anything. League already caters very heavily to the Chinese market.
By wavesquirrel on 12.16.15 10:35pm
Yes, they’ve been a majority shareholder since 2011.
By coil on 12.17.15 2:31pm
inevitable but unfortunate all the same.
By Random_Puppet on 12.17.15 6:01am
Ok, before we start getting our tinfoil caps on, remember that Tencent was already the largest investor for Riot Games from almost the beginning, and it had been really good about it since. I may not agree with what they do first party like Sesame Credit, but they really took a very hands off approach with Riot Games and they have no reason to do anything else since it’s still at the prime of its success atm.
By evilsebs on 12.17.15 12:24pm
Nothing new here, other they own all of it rather than most of it.
By SonicSP on 12.18.15 8:22am