OverActive Media announced that it has entered into a new team license agreement with the Call of Duty League (CDL). The agreement provides a long-term horizon for growth and a clear path to profitability. Key deal components include: A renewed long-term commitment to the Call of Duty League by the CDL and OAM.

The elimination of all outstanding OAM entry fees, totaling approximately CAD 35.1 million (CAD 25.5 million). OAM will receive a one-time restructuring payment of CAD 2.8 million (CAD 2.0 million) in the second quarter of 2024. Enhanced revenue streams for Call of Duty League teams, including direct team participation for digital in-game merchandise (MTX) and opportunities for licensed third-party tournaments.

The agreement eliminates OAM's remaining franchise payments (CAD 35.1 million) to the Call of Duty League. This, alongside its strong cash position at the end of 2024 and the CAD 2.8 million restructuring payment, puts OverActive in an enviable position during a period of heavy industry consolidation. The agreement with the Call of Duty Association builds on OverActive's strategic realignment and long term vision for esports.

The financial implications of the agreement will be reflected in OverActive's second-quarter 2024 results.