Catena Media Divests Esports Division to Focus on Other Goals

Catena Media, a major affiliate marketing specialist, has divested its esports assets, marking an end to its participation in the esports sector. Representatives confirmed the transaction and justified it with Catena’s decision to focus on higher-margin products.

The Affiliate Sold Its Esports Products to an Undisclosed Buyer

The sale, which was confirmed to company members via an email, will see the company’s esports.net and esportsbet.com divisions sold to another company. Manuel Stan, the company’s chief executive officer, said that this move is consistent with the company’s strategy to “focus on doing fewer things better.”

In addition to allowing Catena Media to focus on other goals, it will also provide it with a much-needed financial boost.

Stan further stated that the sale will be effective immediately, although the company has not yet disclosed who the buyer is.

Catena to Part Ways with Its Esports Division Workers

In his email, Stan addressed the people behind the esports.net and esportsbet.com brands, congratulating them on their amazing work on creating a “segment-leading product that millions of customers have enjoyed throughout the years.” Stan added that the sale attests to the strength of the two esports brands and the team’s hard work.

However, the divestment necessitated the layoffs of several employees, including a mix of full-timers, freelancers and contributors. This included Gianfranco Capozzi, the general manager for esports and emerging markets in the Asia Pacific region.

Capozzi talked about the sale on his LinkedIn account, saying that his time with the company has been a “wild, challenging, and rewarding ride.”

While I’m grateful for everything I’ve learned, it is also sad to see this chapter coming to an end. But change brings new energy, and for now, I’m taking a short break to decompress, reflect, and prepare for what’s next.

Gianfranco Capozzi

Capozzi also noted that he would be happy to help other former members of Catena Media’s esports division find their next roles.

Catena Media’s Transformation Continues

The sale of the esports assets comes a few weeks after Catena Media announced a significant reduction of its workforce. In mid-May, the company parted ways with 25% of its staff and stopped interest payments amid financial difficulties.

The layoffs came several months after the affiliate giant published its financial results for 2024, outlining certain setbacks. While the management described 2024 as a year for strategic transformation, the recent sale of the esports products and the earlier layoffs suggest that the company’s transformation might not be over yet.