Earlier today rumours had been circulating that Own3d TV, the gaming focused streaming resource that had been embroiled in a long standing battle with Twitch TV, would be closing within two weeks. After speaking to our sources we can confirm this to be the case.
The news comes after several players and organisations had gone public about being owed money from the Vienna based company, most notably Steven "Destiny" Bonnell who wrote a lengthy diatribe entitled "A Beginners Guide To Being An Asshole". Since then it has come to light that the company will indeed be closing in two weeks and is currently looking for solutions to limit the damage.
The survival of Own3d TV had hinged on a deal for them to be bought by Machinima for an alleged $5 million. However, for a variety of reasons no doubt to be elaborated on in the near future, that deal fell through leaving Own3d desperately clamouring to stop the bleeding. Those attempts have been unsuccessful.
Our anonymous sources close to the situation told us that it was "absolutely true" that Own3d TV would be closing in the next week or so and that they cannot pay the debts they owe and if they liquidate and if advertisers don't pay their streamer contracts that clears them of obligation to pay streamer revenue.
They told us the following:
After a buy-out fell through one week ago it looks like time is up for own3D who will be announcing the end of their operation in the coming days.
Due diligence began in early November for Machinima to buy own3D for a price of five million dollars including debts, however due to a slipping position since that time this deal fell through on Wednesday 16th, last week. Having already failed to raise a venture capital round last summer, Own3D now plan to announce the end of all operations within one week.
Naturally we shall bring you updates as we have them as we expect this news to have a big impact on the e-sports landscape.
The situation will also be the subject of an article as part of our "Indebted" series.