Mediapro Moves to Dissolve LVP Operator Seven Years After $24.6M Buyout

Grup Mediapro intends to dissolve and liquidate Fandroid Entertainment SLU, the company behind Spain's Liga de Videojuegos Profesional (LVP), and move its profitable contracts into the parent company. Palco23 reported the plan on Tuesday, citing Fandroid's 2025 annual accounts. TEA has not independently reviewed the accounts.

According to Palco23, the accounts state that Fandroid's sole administrator intends to dissolve and liquidate the company as soon as possible. The profitable contracts would move to Grup Mediapro SLU, Fandroid's sole shareholder, and the employment of affected staff would be terminated.

The plan reverses a course Mediapro set 18 months ago. In May 2025, Mediapro carried out a capital increase of €2.33 million, according to elEconomista. Fandroid's equity had fallen below half of its share capital, a threshold that put the company in grounds for dissolution. The 2024 accounts said the group's business plan anticipated positive operating results and cash flows, according to the same report.

Palco23 reported a 2025 net loss of €1.13 million, 45% smaller than the year before. Revenue fell 10.1% to €8.96 million from €9.97 million. Personnel costs fell about 20% to €3.85 million. Palco23 reported that headcount went from 182 employees in 2024 to 52 in 2025. elEconomista had reported the 182 as the worldwide headcount at the end of 2024. Palco23 did not say whether the 52 is an average or a year-end figure.

Equity remained negative at €683,630, though that is an improvement from roughly minus €1.8 million a year earlier. Current liabilities stood at €6.46 million.

Palco23 reported that all of Fandroid's revenue comes from services, mainly running League of Legends and Valorant competitions. Of that revenue, €2.33 million came from Spain, and €5.53 million came from outside the European Union. elEconomista reported that Fandroid also operates in Latin America through subsidiaries.

elEconomista reported in September 2025 that Fandroid's revenue fell from €17.06 million in 2023 to €9.97 million in 2024. The same report said the company has not posted a profit since 2020. In that report, Mediapro sources confirmed a collective dismissal process covering up to 59 workers.

Mediapro paid €22 million in 2019 to take full ownership of Fandroid, according to elEconomista.

Palco23 and elEconomista have not said when the dissolution will be completed, which contracts will move to Grup Mediapro, whether the Latin American subsidiaries will go with them, or whether the LVP brand will continue inside the group. TEA reached out to Grup Mediapro for comment and will update the article if the company responds.