Comcast Spectacor and SK Telecom have 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 companies said.
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 Legends.
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.
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. Visit comcastspectacor.com for more information.
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.