By Joe Osborne
In what couldn’t be a stronger sign of the times, the once unstoppable video games retailer GameStop is officially looking to sell. The company confirmed as much in a press release following an earlier Reuters report saying as much.
“GameStop Corp. today confirmed it is in exploratory discussions with third parties regarding a potential transaction,” the press release reads. “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.”
More specifically, Reuters reported to have learned from anonymous sources that GameStop was looking to private equity firms for a sale, particularly a firm known as Sycamore Partners. The report also states that GameStop has hired a financial advisor to see it through this process.
However, both Reuters’s sources and GameStop officially said that this is no guarantee that these talks will result in a sale.
The paradigm has shifted
Frankly, once video game downloads through platform holders’ digital stores began, the writing was on the wall for GameStop. The company managed to stem the tide through used game sales and other customer perks, but it simply couldn’t keep …read more
Source:: techradar.com – Gaming
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