Gamestop has confirmed via press release that it is indeed in talks for a potential buyout. The retailer has been struggling in recent years and reported a loss of over $100 million dollars last year. It is becoming increasingly more difficult for the company to stay relevant in the world of digital downloads, and streaming services for Sony’s Playstation 4, and soon to be for Microsoft’s Xbox One.
An excerpt from the release follows below.
“There can be no assurance any agreement will result from these discussions. GameStop does not intend to make any additional comments regarding these discussions unless and until it is appropriate to do so.”
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With Gamestop being on the decline, the potential buyers must be getting a great deal to acquire Gamestop. Talk of the potential sale did raise Gamestop’s stocks 11 percent yesterday. With the profits loss last year, I am not sure why a company would be interested in buying Gamestop, but perhaps that is why I am not a venture capitalist
While I haven’t been an avid gamer for some time, I do remember the trips to Gamestop, trading in several games for about $2 each to put toward the purchase of a new game. I am surprised the comapny survived as long as it did off of that model, as trade-ins are said to be what kept the company going.
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Source: Variety
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