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GameStop Announces Shocking Buyout Offer For eBay, Priced At $56 Billion

GameStop Announces Shocking Buyout Offer For eBay, Priced At $56 Billion https://ift.tt/agFYkG9 The latest chapter in video game retailer GameStop's tumultuous story is unfolding, as the company has announced plans to make a deal to buy eBay for $56 billion. GameStop said in a news release that it submitted a "non-binding proposal" to buy 100% of eBay at $125 per share in cash and stock, at 50% each. This would be about a 20% premium over where eBay's stock was trading on Friday and a 46% premium to eBay's closing price on February 4 this year. That was the day that GameStop started buying eBay stock. Today, it owns about 5% of eBay's outstanding stock. CEO Ryan Cohen told The Wall Street Journal , "There is nobody who is more qualified, based on my experience, to run the eBay business," he said. Continue Reading at GameSpot
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Microsoft's Strategy To "Spend Sony Out Of Business" Revealed In 2019 Internal Email

Microsoft's Strategy To "Spend Sony Out Of Business" Revealed In 2019 Internal Email https://ift.tt/wxalQqO

As part of the ongoing trial between the Federal Trade Commission and Microsoft, an internal email from Xbox Game Studios chief Matt Booty encouraging Microsoft CFO Tim Stuart to "spend Sony out of business" has been made public. The email, which was sent in December 2019, explains Microsoft's aggressive acquisition plans, which almost resulted in the company purchasing Sega, Niantic, and Bungie.

In the email, first shared by The Verge, Booty writes, "We (Microsoft) are in a very unique position to go spend Sony out of business. If we think that video game content matters in 10 years, we might look back and say, 'Totally would have been worth it to lose $2B or $3B in 2020 to avoid a situation where Tencent, Google, Amazon, or even Sony have become the Disney of games and own most of the valuable content.""

Booty went on to explain how it is "practically impossible" for a company to start a new streaming service due to Disney's competitive holdings, before drawing a comparison between video streaming services and the future of the games industry:

Continue Reading at GameSpot
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