The Esports Observer, an esports business news site, has been acquired by Condé Nast and American City Business Journals owner Advance Publications.
This acquisition likely signals how larger media companies are trying to cash in on the opportunities around esports coverage.
Advance’s recent investment of industry intelligence and analytics firm Newzoo marks the company’s second esports-related acquisition this month.
According to the press release, Advance’s subsidiary, American City Business Journals (which publishes Sports Business Journal), previously acquired a minority interest in The Esports Observer back in 2017.
The Esports Observer is expected to “offer its audience greater access to even more granular data in the business of esports and games.”