Activision Blizzard has confirmed that it has completed the acquisition of Major League Gaming (MLG).

The figure involved in the deal was not revealed by either party, but eSports Observer published on Saturday an extract of the letter sent out to all MLG shareholders, in which it was stated that the company had been sold for $46 million.

It is believed that most of the money will be used to pay off MLG's debt, leaving small stockholders almost empty-handed. Last year, the company filed for debt financing multiple times for over $6 million.

MLG X-Games Aspen 2015

The CS:GO events are expected to go ahead as planned

The news sparked fears that the upcoming Americas Minor and the CS:GO major could be at risk, but Activision Blizzard stated that MLG will "continue to work with its partners and other publishers across the industry", suggesting that both events will go ahead as planned.

"Our acquisition of Major League Gaming’s business furthers our plans to create the ESPN of esports," said Activision Blizzard CEO Bobby Kotick. "MLG’s ability to create premium content and its proven broadcast technology platform – including its live streaming capabilities – strengthens our strategic position in competitive gaming. MLG has an incredibly strong and seasoned team and a thriving community. "Together, we will create new ways to celebrate players and their unique skills, dedication and commitment to gaming. We are excited to add Sundance and the entire MLG esports team to our competitive gaming initiatives."

Activision Blizzard owns several Esports titles, including the Call of Duty series, StarCraft, Heroes of the Storm and Overwatch. Many believe that, with the acquisition of MLG, the Santa Monica-based company will be able to promote some of those titles via a professional tournament circuit.

The Americas Minor will take place from January 15-17 inside the MLG Arena, in Columbus, Ohio. The MLG Columbus major will be held from March 29 to April 3, at two different locations: the MLG Arena, which will stage the group matches, and the Nationwide Arena, where the playoff matches will be played.