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!]
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And the company is also part of Sesame Credit, which is disturbing as hell. Guess I’m not giving Riot anymore money, sadly.
Did you just see the extra credits video? I was wondering if the community would notice…
I saw it. I’m very concerned about what it could mean. I can’t support Riot Games anymore either.
I just watched it. Wow.. that’s some scary stuff. Like the speaker said: hopefully it’s not what it looks like…
I don’t know why I find this news unpleasant.
Probably reminding you of this, I believe
Oh, mother of God.
Can you beleive this image pertains primarily to the United States? These brands own many more companies globally – it would make the internet weep.
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)
Polygon traditionally doesn’t cover patch notes.
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.
Yes, they’ve been a majority shareholder since 2011.
inevitable but unfortunate all the same.
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.
Nothing new here, other they own all of it rather than most of it.