OverActive Media's was originally branded as The Ledger Group, a Toronto-based group focused on
blockchain-enabled companies. In April 2018, the company announced that it would look to expand in
esports franchises. The Ledger Group went on to make investments in Askott Entertainment and
Enthusiast Gaming, and after a $1.5 million investment in
Splyce, they shifted from an investment platform to an ownership platform and rebranded to OverActive Media. In 2018, OAM and Splyce agreed to purchase a team, later branded as the
Toronto Defiant, in the
Overwatch League for the league's upcoming 2019 season. In 2019, OAM purchased a franchise spot in Activision-Blizzard's
Call of Duty League, establishing
Toronto Ultra. OAM was given full approval by the
Toronto City Council as of December 16, 2021. The arena was expected to
break ground in 2022 and was expected to be completed in 2025, but complications regarding the Overwatch League's decline means that the status of the arena is unknown. On November 8, 2023, OverActive Media announced that they had pulled the Toronto Defiant out of the Overwatch League, receiving CA$8.2million (US$6million) as part of an updated agreement from Activision-Blizzard. Shortly after OAM's announcement, an OWL spokesperson confirmed that Activision-Blizzard would be transitioning Overwatch esports away from the OWL's franchise system and into a new ecosystem as the result of two-thirds of the organizations (including OAM) voting to leave, also part of the agreement. On January 4, 2024, OverActive Media executed a
letter of intent to acquire Spanish esports organizations Movistar Riders and KOI. The assets to be acquired include all of KOI's esports assets and brands, including social media and intellectual property, and intends to unite the organizations under a single brand by the end of 2024. The deal also involves Movistar Riders' Founder Fernando Piquer and CEO Carlos Garcia-Acevedo taking on key roles within OverActive Media, and entering into service agreements with KOI co-founders
Ibai Llanos and
Gerard Piqué. Upon the completion of the proposed acquisition, OverActive Media would have control over the following assets: Toronto Ultra, Toronto Defiant, MAD Lions KOI, and Movistar KOI. Once completed, the acquisitions are expected to add to $12 million in revenues in 2024. == References ==