Market Overview

The Overwatch League™ Signs Two New Teams

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New franchise owners include Cox Enterprises in Atlanta and Nenking
Group in Guangzhou


Both teams will join the Overwatch
League for the start of the 2019 season

The Overwatch LeagueTM has its first champion in the London
Spitfire, but new competition is on the way for the 2019 season. Today
two more teams, Atlanta and Guangzhou, joined the world's first major
global city-based esports league. The ownership groups operating
those franchises are:

  • Atlanta, Georgia—Cox Enterprises, a leading communications,
    media, and automotive services company, which has partnered with
    Province, Inc. to form Atlanta Esports Ventures
  • Guangzhou, China—Nenking Group, a financial and entertainment
    conglomerate, and owner of the Guangzhou Long Lions of the Chinese
    Basketball Association

"After thrilling fans with an amazing Grand Finals at the Barclays
Center, we're excited to follow that up by expanding the Overwatch
League next season," said Pete Vlastelica, president and CEO of
Activision Blizzard Esports Leagues. "We're pleased to add the Atlanta
and Guangzhou teams to the ownership group, and we look forward to
bringing the league to even more fans across both regions in 2019."

"We know Atlanta and Guangzhou have deeply engaged fan communities and
we can't wait to unveil their teams," said Nate Nanzer, commissioner of
the Overwatch League. "As the league continues to grow, we're looking
forward to seeing more talented pros in action as more roster spots open
up."

"The esports phenomenon is only getting bigger and the Overwatch League
is at the center of the excitement," said Dallas Clement, chief
financial officer of Cox Enterprises. "Atlanta has some of the most
passionate fans in the world—and now, we get to bring this energy to the
Overwatch League. We are thrilled to help lead the evolution of esports
by building a team in our hometown."

"The popularity of Overwatch and esports in general has created a
diverse fanbase that we in Atlanta are excited to engage," said Paul
Hamilton, president and CEO of Atlanta Esports Ventures, a partnership
between Cox Enterprises and Province, Inc. "With the creativity of
Blizzard Entertainment and the determination of Atlanta Esports
Ventures, we are poised to create the preeminent esports team in the
heart of the Southeast."

"We are so excited to bring an Overwatch League team to Guangzhou," said
Zhong Naixiong, chairman of the Nenking Group. "The Nenking Group and
the Long Lions have deep roots in this region, and we can't wait to
represent our city on the world stage and make our fans proud."

Further details about official names, marks, and rosters for Atlanta and
Guangzhou will be announced soon by each team in conjunction with the
Overwatch League. Information about other new Overwatch League teams and
the 2019 season schedule will be released at a later date.

The 2017–2018 Overwatch League season concludes with the All-Star
Weekend
on August 25–26 at Blizzard Arena Los Angeles in Burbank,
California. On Saturday, teams from the Atlantic and Pacific Divisions
will compete in a series of custom skill matches, and on Sunday, the All-Star
squads
will go head-to-head in the official All-Star Game Powered by
Intel®.

About the Overwatch League™

The Overwatch League™ is the first major global professional esports
league with city-based teams across Asia, Europe, and North America.
Overwatch® was created by globally acclaimed publisher Blizzard
Entertainment (NASDAQ:ATVI), whose
iconic franchises have helped lay the foundations and push the
boundaries of professional esports over the last 15 years. The latest
addition to Blizzard's stable of twenty-one #1 games,[1]
Overwatch was built from the ground up for online competition, with
memorable characters and fast-paced action designed for the most
engaging gameplay and spectator experiences. To learn more about the
Overwatch League, visit www.overwatchleague.com.

About Nenking Group

Nenking (Holdings) Group Co., Ltd. is a conglomerate with diversified
businesses across property development and management, financial
services, pharmaceuticals, and sports & entertainment, including the
Guangzhou Long Lions of the Chinese Basketball Association. Nenking
businesses are largely based in the Pearl River Delta region of
Guangdong in Southern China with significant presence in the greater
metropolitan area of Guangzhou and Foshan.

About Cox Enterprises

Cox Enterprises is a leading communications, media, and automotive
services company. With revenues over $20 billion and approximately
60,000 employees, the company's major operating subsidiaries include Cox
Communications (cable-television distribution, high-speed internet
access, telephone, home security and automation, commercial
telecommunications, and advertising solutions); Cox Automotive
(automotive-related auctions, financial services, media and software
solutions); and Cox Media Group (television and radio stations, digital
media, newspapers, and advertising sales rep firms). The company's major
national brands include Autotrader, Kelley Blue Book, and Manheim.
Through Cox Automotive, the company's international operations stretch
across Asia, Australia, Europe, and Latin America. To learn more about
Cox's commitment to people, sustainability, and our communities, please
visit www.coxcsrreport.com.

About Province, Inc.

Province, Inc. is a national financial advisory firm focusing on growth
opportunities, restructuring, and fiduciary-related services. The firm
is regularly hired to provide solutions in many of the largest and most
complex cases in the country.

© 2018 Blizzard Entertainment, Inc. OVERWATCH, OVERWATCH LEAGUE,
BLIZZARD, and BLIZZARD ENTERTAINMENT are trademarks of Blizzard
Entertainment, Inc., in the United States and/or other countries.

[1] Sales and/or downloads, based on internal company records and
reports from key distribution partners.

Cautionary Note Regarding Forward-looking Statements: Information in
this press release that involves Blizzard Entertainment's expectations,
plans, intentions or strategies regarding the future, including
statements about the 2019 Overwatch League season and the dates and
features of the All-Star Weekend, are forward-looking statements that
are not facts and involve a number of risks and uncertainties. Factors
that could cause Blizzard Entertainment's actual future results to
differ materially from those expressed in the forward-looking statements
set forth in this release include unanticipated product delays and other
factors identified in the risk factors sections of Activision Blizzard's
most recent annual report on Form 10-K and any subsequent quarterly
reports on Form 10-Q. The forward-looking statements in this release are
based upon information available to Blizzard Entertainment and
Activision Blizzard as of the date of this release, and neither Blizzard
Entertainment nor Activision Blizzard assumes any obligation to update
any such forward-looking statements. Forward-looking statements believed
to be true when made may ultimately prove to be incorrect. These
statements are not guarantees of the future performance of Blizzard
Entertainment or Activision Blizzard and are subject to risks,
uncertainties and other factors, some of which are beyond its control
and may cause actual results to differ materially from current
expectations.

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