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LAN Party Forums => General Discussion => Started by: Pride on April 18, 2005, 01:21:38 PM
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By Ben Berkowitz
LOS ANGELES (Reuters) - GameStop Corp. (NYSE:GME - news) on Monday said it would buy rival Electronics Boutique Holdings Corp. (Nasdaq:ELBO - news) for $1.44 billion in cash and stock, likely creating the leading video game retailer in the United States.
Electronics Boutique stock jumped 29 percent, while GameStop shares fell 1.6 percent in early trading.
The combined entity would have more than 3,200 stores in the U.S. and 600 stores internationally, with annual revenues of nearly $4 billion and a dominant position in the growing market for used game sales.
"Nice deal, probably OK with the (Federal Trade Commission)," said Michael Pachter, an analyst with Wedbush Morgan Securities. "It would make them bigger than Wal-Mart," (NYSE:WMT - news) in terms of sales
The video game industry is preparing for a rocky transition as it moves from one generation of game console to a newer, more advanced generation of machine. That changeover is expected over the next 18 months, and such changes have historically led to fluctuating sales.
Analysts said the combined GameStop would be the biggest retailer of video games in the U.S, with a market share of about 25 percent. For the 2005 fiscal year, Electronics Boutique had annual sales of $1.98 billion, while GameStop sales totaled $1.84 billion.
Shareholders of Electronics Boutique would receive $38.15 in cash and the equivalent of 0.78795 shares of GameStop Class A common stock for each Electronics Boutique share, the companies said. That is a premium of 34.2 percent, based on Friday's closing prices for the stocks.
GameStop expects the deal to add significantly to its diluted earnings per share in the second half of fiscal year 2005 and in 2006. It expects "meaningful" pretax savings, beginning in fiscal year 2006.
http://news.yahoo.com/news?tmpl=story&u=/nm/20050418/bs_nm/retail_electronicsboutique_gamestop_dc
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I can only assume that you are posting this because of the local shop
They might not be affiliated with the cyber boutique corp. They might just be using the name.
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no no....
EB Games is being bought out by GameStop
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Electronics Boutique, not Cyber Boutique.
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lmfao
wow...
(puts on dunce hat)
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And i thought I was bad.
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just because you posted... yes you are just as bad, actually worse.
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insert - virus that louds von's cpu with so much gay porn.
I call it the Chris Virus (one of the guys at CB)
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Crap there goes my pr0n free computer
*reformats*
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What sense does this merger make? It would be stupid to have both a GameStop and a EB in the same mall so one has to close. Sounds to me like GameStop decided to "kill" their competition. I always buy from GameStop because they have good prices but their selection sux compared to EB (at least the last time I bought a game). I don't know, I think they could have saved their money and rented larger stores :)
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I will say this... with all of the warez out there, game sales are probably down quite a bit. So, merging may be a way of being able to stay in business, rather than spending tons of money to compete with a competitor that offers the EXACT same product.
The differences betwen EB Games and Gamestop are far less than the difference between Coke and Pepsi. Does anyone REALLY care which store they buy a game at? If you had 2 next to each other in a mall, you may select one over the other... but usually its based on where you park in the lot haha.
I am cool with this if it keeps the stores open, and doesn't increase game sales... in fact, it may decrease them!
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btw.... about Cyber Boutique... anyone have a website for that place? been tryin to find out about it but to no avail.
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www.cyberboutique.biz
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Wow. There new "beautiful" website as they put it, still suXx0rs :P
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wow
web redirects make baby jesus cry ...
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DO'H
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yeah uh... i wouldn't exactly call it beautiful. not sure how they come up with that. Could use some work. I like how all these up-and-coming lan centers always use the green font w/ black background theme. =/
right. Ah well was hoping to be lookin for a job of some sort since its so close.
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Actually its this:
www.cybercommand.net
This is the creative genius of a one Josh Coward(Har Har) he is a jack off who doesnt do very much in his life. He never got this site done but you can see some of his handy work. It looks like it was made by a five year old but o well whats done is done.