Tag Archives: gamestop

GameStop reportedly discussing buyout with private equity firms

Struggling retail chain GameStop is discussing a potential buyout with private equity firms, according to Reuters . The report says that one of the private equity firms is Sycamore Partners and that GameStop has hired a financial advisor to help with the talks, though there’s no guarantee that a deal will come to fruition. Founded in 1984 and once a mainstay for gamers, GameStop has struggled to cope with competition from online retailers like Amazon and digital distribution platforms including Steam, even after several attempts to diversify its business model. For example, last fall GameStop announced a used game subscription service, but that was shelved, reportedly because of issues with the chain’s point-of-sale system . Despite other efforts, including selling secondhand games and devices and the acquisition of novelty maker ThinkGeek in 2015 , the company’s stock has fallen steadily since November 2013, when it hit $56.53 a share, to $13.96 now. Reuter’s report comes about a month after investor Tiger Management sent a letter to GameStop , asking it to launch a strategic review of its business model. Around that time, CEO Michael Mauler also resigned after only three months in the position , citing personal reasons. Microsoft Xbox executive Shane Kim began serving as interim CEO at the beginning of June. Sycamore Partners said it has no comment. TechCrunch has also contacted GameStop.

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Digital downloads killed 150 GameStop stores

It's game over for at least 150 GameStop stores. The retailer has announced that it's shutting down 2 to 3 percent of 7,500 shops across the globe after sales and earning plummeted last year. According to The Wall Street Journal, the company was affe...

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GameStop Enters The Game Publishing Business – Ubergizmo

Ubergizmo GameStop Enters The Game Publishing Business Ubergizmo GameStop has experimented with game publishing before and it appears to be convinced that there's a place for it in this market. That's why the company has announced the launch of GameTrust, it's a new game publishing division of GameStop. Initially ... and more »

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