GameStop is Looking to Sell; May Have Two Potential Buyers

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This may not be the best of news for fans out there, but GameStop is looking to sell. Let’s rip the band-aid off. Sales have declined for GameStop since the rise of digital games. Going to a physical store for video games have been decreasing and with other factors, the once mathom in the industry is slowly shriveling away. According to The Wall Street Journal, there’s at least two companies that are attempting to buy the company and a deal could become public in the middle of February of this year. The two companies are Sycamore Partners and Apollo Global Management, both which declined to speak when the WSJ requested to talk. GameStop declined as well.

The co-president and lead partner of Apollo, Scott Kleinman; states that Apollo is looking for investment opportunities that “others are unable or willing to figure out.”

GameStop has also dealt with some internal changes recently, with the longtime CEO Paul Raines having died in 2018. Michael Mauler replaced him, but left only three months later. The current CEO is Shane Kim, who is the former boss of Xbox during the Xbox 360 days. As we find out more, we’ll let you know, but how do you feel about this? Do you still go to GameStop or is a nostalgic memory where you used to browse while at the mall?

Source: GameSpot

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