The expansion of the online entertainment space continues in the world of chess, and chess.com closed out its acquisition of the Play Magnus Group to acquire properties such as Chessable, Chess24, Meltwater Chess Tour and Magnus Carlsen. The deal, which was initially announced on August 24, closed on December 16, the same day that chess.com was 100 million user milestone.
When we get the acquisition complete, we’ll become the main player in the online game. Two of the largest commercial ad networks joined forces under their banner. The Play Magnus Group accepted an offer of sale from their one-time rivals, despite a wide variety of acquisitions, and without that profit they would buy other than Chessable but remained in the market until it was finished with the performance of chess24 but as far as the competitors swung in terms of playingability and userbase.
This move also means Magnus Carlsen will become a brand ambassador for chess.com once more and be regular in their tournaments once again, thereby leading to many more exciting encounters like his epic run to the speed Chess Championship finals. The world champion was interviewed in a communication stream. Here is what he did in the acquisition.
I think that being such a good idea for both fans and players is quite, as it is, that now is a lot easier for all the best players to compete in the same event and it’s easier for fans to follow. I have a much better chance of becoming more competitive with the best online even more frequently than I’ve used to.
Even though I was a chess player, thats definitely the motivation, so I was actually a shareholder with thePlay Magnus Group and for that it all opened up all the new possibilities that we got with our apps andChessable, the new possibilities for integration. To see is exciting, and hopefully all the fans who like to have fun.
This pickup makes an instant change in the online chess tournaments. Previously, the competition slate split the viewership and a PMGs Meltwater-sponsored champion Chess Tour. The two sets will begin with a new format, allowing for a clear flow of tournament calendar in the process. The new event is six majors and a final in the end of the year.