DirecTV-backed professional videogaming league Championship Gaming Series (CGS) has folded. Launched in January 2007, CGS started with six franchises in the U.S. (in cities like LA, NY and Dallas), and expanded internationally this year. Its matches were picked up by DirecTV (NYSE: DTV), BSkyB (NYSE: BSY) and Star, and the LA-based company had corporate sponsors like Xbox 360 and Mountain Dew. CGS also announced a new executive team in January, but the progress wasn’t enough to bring the company into profitability. In a statement, CGS said “the economics just didn’t add up for us at this time.” The shutdown leaves Major League Gaming (MLG) as the only real contender in the professional gaming space.