Rumor: Own3d to Shut Down Streaming Service Within 2 Weeks

Update: own3d.TV has released a statement on their blog indicated that they will be shutting down and ceasing operations.

Full release in quotes:

Dear gamers, dear own3D community,

own3D and its management, having evaluated the future of own3D, have decided to cease operations on January 31st, 2013.

As the first livestreaming portal for gamers own3D had a turbulent start with unexpected growth. We have tried to drive the company into profitability but due to the capital intensive nature of our industry and increasing competition, we have not been able to reach it despite our best efforts.

This is a difficult decision for all of us at own3D. However, after much deliberation this seems to be the best course of action despite the impact it will have on all the employees, clients and partners who helped build this business.

We are grateful for your support as our pioneering ride comes to an end. The own3D team has always aspired to provide the gaming community with the best tools for sharing their gaming experiences and growing their projects. We therefore hope that you have enjoyed watching a few epics over the years.

The day has almost arrived when professional gamers are as recognized as other athletes. We hope to have shown what is possible for the future of eSport and competitive gaming.

The gaming revolution will not be televised – it will be streamed.

Your own3D team.

Popular streamer Athene has indicated on his Facebook page that streaming platform own3d TV will be shutting down within the next two weeks. We’re looking to confirm this information now. Esports site Cadred.org has reported details regarding the failed  Own3d acquisition by Machinima.

They were told the following from an anonymous source:

After a buy-out fell through one week ago it looks like time is up for own3d.tv who will be announcing the end of their operation in the coming days.

Due diligence began in early November for Machinima to buy own3d.tv for a price of five million dollars including debts, however due to a slipping position since that time this deal fell through on Wednesday 16th, last week. Having already failed to raise a venture capital round last summer, own3d.tv now plan to announce the end of all operations within one week.

Over the past week, prominent players and eSports teams have dropped own3d.tv as their streaming service of choice and  have switched to Twitch.tv, citing that own3d.tv has failed to live up to their contract. League of Legends players and streamers GuardsmanBob, Destiny, and eSports teams TSM and EG have departed while alleging that own3d.tv has been behind on payments.

Professional League of Legends streamer, Destiny, reported on his blog that the paychecks that he was supposed to receive were being paid much later than they should have been. As a result, Destiny was forced to break his contractual obligations to own3d.tv a couple of weeks before the contract was up so he could pursue a stable source of income from Twitch.tv instead.

Players looking for alternative streaming services won’t have to look too far. Counterlogic Gaming and eSports media giant Azubu have announced a partnership together. One of their proposed projects? AzubuTV which is going to be their next generation streaming platform which will house the livestreams and video content of CLG.

Own3d.tv hasn’t yet responded to our questions.

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