Riot Games and Tencent, its owner, agreed to establish a joint esports venture, the companies announced Wednesday at the 2019 League of Legends China Summit.
According to Score.gg, the new venture, known as TenJing Sports, will be established in Shanghai. From there, it will supervise the operation of League of Legends tournaments in China and related products. It will also see Riot and Tencent work together on developing new releases. Riot and Tencent will split shares in the venture evenly.
Per Inven Global, the new company will be led by League of Legends IEG head of operation
The move will look to grow Chinese esports, and will also likely consolidate Tencent's influence on the scene as it expands. It comes months after a report detailing rocky relations between Tencent and Riot Games, which the former purchased a controlling stake in February 2011 before buying completely in December 2015.
Photo courtesy of Riot Games