‘League Of Legends’ News: Riot Games Acquired By Tencent; Changes To Happen Soon?

by Christian Pepito / Dec 18, 2015 03:00 AM EST

For the "League of Legends" news, Riot Games is now owned by Chinese company Tencent Holdings Limited, according to Cnet.

A while back, Riot Games, the ones behind "League of Legends," announced that they will be launching a big update for next year. The changes will be large as it will fix different issues of the game, balance the statuses of different characters, add new masteries, new monsters and many more.

The change may have to wait as the Californian games studio has quietly announced that their company is now owned by Tencent Holdings Limited, according to VG247. Tencent Holdings Limited is a big company in China and has bought the majority of Riot Games' shares back in 2011.

The "League of Legends" news comes from an update to the company's website. The update details the changes to how employees will be compensated for their contributions to the studio's achievements.

"As a result of our continued growth and changing circumstances, we're shifting to a new structure to recognize and reward Rioters' contributions - and that first involves a big change to our existing equity program," stated Riot Games in the update.

"As part of this effort, our majority investor, Tencent, recently purchased the remaining equity of Riot Games," continued the statement. "This allows us to move away from a Riot equity program towards a cash based incentive program that allows Rioters to share in Riot's success."

Tencent Holdings Limited is one of China's largest internet companies, according to IGN. By purchasing Riot Games and "League of Legends," Tencent Holdings Limited has become the world's largest company. This corporation also holds the minority stakes in other companies like Activision Blizzard, Epic Games, GLU Mobile and Pocket Gems. The newest addition and has now total ownership of it is Riot Games.

There are no details whether this "League of Legends" news will make changes on how the popular game will be run now, according to the BBC.