[October 15, 2019]

Comcast Spectacor and SK Telecom Launch Global Esports Joint Venture, T1 Entertainment & Sports

Comcast Spectacor and SK Telecom (News - Alert) today announced the launch of T1 Entertainment & Sports (T1), a new global esports joint venture that was introduced in February 2019 when the companies reached a memorandum of understanding to create a premier global esports organization. The joint venture, which legally operates as SK Telecom CS T1 Co., Ltd., has received all necessary regulatory approvals and lifts off with a portfolio that includes the ultra-successful SK Telecom T1 League of Legends (LoL) Champions Korea (LCK) team. Now rebranded as T1, the LCK team is currently competing for an unprecedented fourth title in the LoL World Championship. In addition, T1 owns and operates teams in competitive gaming segments that include Fortnite, Dota 2, PlayerUnknown's Battlegrounds (PUBG), Super Smash Bros., Hearthstone and Apex (News - Alert) Legends.

To view and/or download high-resolution images that support the announcement, click here.

"The launch of T1 marks an exciting moment for Comcast (News - Alert) Spectacor and our partners at SK Telecom," said Dave Scott, Chairman and CEO, Comcast Spectacor. "T1 immediately becomes one of the premier esports organizations in the world, and we are looking forward to strengthening its presence in this dynamic space as we move forward."

"SK Telecom has built SK Telecom T1 into the most successful LoL team in history," said Park Jung-ho, CEO of SK Telecom. "We're excited to contribute this legacy to form a premier esports organization with Comcast Spectacor to expand globally and grow the business in new directions. This marks a significant step for SK Telecom's esports business and we are very excited for the future of T1."

Also announced today was the appointment of two senior executives to lead the jint venture. Joe Marsh, who most recently was Chief Business Officer for Comcast's Spectacor Gaming division and the Philadelphia Fusion Overwatch League team, has been named CEO of T1, overseeing global operations based in Seoul, Philadelphia and Los Angeles. John Kim, founder of Akshon Media and former CEO of Meta Gaming in Seoul, has been named Chief Operating Officer and is now based in Seoul full time.

"I'm honored to lead T1 as we enter into a promising chapter of growth," said Joe Marsh, CEO, T1. "SK Telecom T1 has a rich history of success and we will build on those successes and celebrate new victories as we expand into new markets. Our portfolio of world-class teams spans the globe, creating more opportunities for our fans to celebrate T1's gaming culture, content, and players."

The joint venture combines the strengths of two successful competitive gaming companies and now stands among the premier esports organizations in the world. The SK Telecom T1 LoL team has already won three LoL World Championships and has an established and loyal fan base. The United States and South Korea rank as the largest and third largest global esports markets, respectively, in this fast-growing space. T1 will expand globally and develop new businesses and revenue streams surrounding competitive gaming culture and lifestyle, content creation, entertainment and merchandise.

The Philadelphia Fusion Overwatch League franchise is not part of T1 and remains fully owned and operated by Comcast Spectacor.

For more information on T1, please visit T1.gg.

About Comcast Spectacor

Comcast Spectacor is a professional sports and live entertainment company that is part of Comcast Corporation, a global media and technology leader that operates Comcast Cable, NBCUniversal and Sky. Headquartered in Philadelphia, Comcast Spectacor owns and operates the Wells Fargo (News - Alert) Center arena and complex, as well as a portfolio of professional sports teams that includes the National Hockey League's Philadelphia Flyers, the Overwatch League's Philadelphia Fusion, the National Lacrosse League's Philadelphia Wings and the Maine Mariners of the ECHL. Comcast Spectacor also holds strategic interest in several partner companies spanning the sports and entertainment landscape, including Spectra, Learfield IMG College, Xfinity Live! Philadelphia and N3rd Street Gamers. Visit us at comcastspectacor.com for more information.

About SK Telecom

SK Telecom is the largest mobile operator in Korea with nearly 50 percent of the market share. As the pioneer of all generations of mobile networks, the company has launched the fifth generation (5G) network on December 1, 2018. The company is not only leading innovations in the field of mobile network, but is also creating unprecedented value in areas such as media, security and commerce. In the Fourth Industrial Revolution (News - Alert), SK Telecom will inspire the world, building a future beyond expectations. For more information, please contact [email protected] or [email protected].

View source version on businesswire.com: https://www.businesswire.com/news/home/20191015005671/en/

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