Games Media Properties, organizer of the World Series of Video Games, has shut down the competition and canceled the remainder of the WSVG 2007 events.
According to an announcement on the company's website, "The continuing challenges of securing adequate revenues to sustain the production of the WSVG's large scale events and television programming, in a very crowded field of competitive gaming leagues, has prompted us to re-evaluate our direction as an organization." The company has elected to shift its focus exclusively to its online advertising network.
The company announced a television deal with CBS Sports in May, with broadcast events planned for Louisville, Dallas, Los Angeles and Jönköping, Sweden. As a result of the decision, the Los Angeles and Jönköping events, as well as a competition planned for London, England, will not be held. The total prize purse for the season had been announced at $574,000.
"We are proud of the accomplishments and memorable entertainment we have provided through the World Series of Video Games," the statement says. "While we are sorry that this news will disappoint our fans and players, we are deeply appreciative that we have had the opportunity to contribute to the growth of eSports." The site also contains a notice saying that "each and every winner" of previous WSVG events will be paid.