GameStop CEO auctions items on eBay to fund purchase

GameStop chief executive Ryan Cohen has listed a collection of personal and company-related items for sale on eBay. The move comes as the retailer explores acquiring the online marketplace itself. Proceeds from the auctions are described as a contribution toward that goal.

Cohen posted a link to the listings on social media on May 6. The items range from retro video games, including sealed copies of Yoshi’s Cookie and the original Metroid, to a Master Chief statue and a Vault Boy statue. Other offerings include a GameStop hat, a square of carpet removed from a store, an iPhone, and a PSA 10 trading card showing Donald Trump’s 2016 inauguration. Each listing includes a signed copy of Cohen’s letter proposing the eBay acquisition.

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Wall Street traders celebrate GameStop's $55.5 billion eBay acquisition bid featuring bitcoin funding.
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GameStop details $55.5B eBay bid with 5% stake, bitcoin funding in focus

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Updating its unsolicited bid announced earlier on May 4, GameStop has disclosed a 5% economic stake in eBay while proposing a $55.5 billion non-binding acquisition at $125 per share in cash and stock. Funding includes $9.4 billion in cash and liquid investments—featuring $368 million in bitcoin—and up to $20 billion in financing, prompting questions over the retailer's cryptocurrency future.

GameStop has officially bid $56 billion to buy eBay, a company four times its size. CEO Ryan Cohen announced the unsolicited offer on Sunday night, proposing $125 per share in a half-cash, half-stock deal. The move aims to combine GameStop's retail presence with eBay's online marketplace amid the retailer's pivot to collectibles like Pokémon cards.

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Following GameStop's $56 billion unsolicited bid for eBay, CEO Ryan Cohen faced sharp grilling on CNBC over financing gaps and deal viability. His vague, incoherent answers drew laughs from hosts and prompted investor Michael Burry to dump his entire stake, spooking markets.

Christie’s held its first anime-focused online auction on Wednesday. Movie posters, film cels and illustrations of iconic anime characters went under the hammer.

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Phil Spencer, who has led Microsoft Gaming for over a decade, announced his retirement after 38 years with the company. Asha Sharma, currently heading Microsoft's CoreAI division, will succeed him as CEO of Microsoft Gaming. The changes also include the resignation of Xbox President Sarah Bond and a promotion for Matt Booty.

The Stop Killing Games campaign, led by Ross Scott, plans to create non-governmental organizations in the European Union and the United States to combat publishers ending support for purchased video games. These NGOs will focus on long-term counter lobbying and watchdog activities. The initiative follows the campaign's success in gathering over a million signatures on its petition.

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Xbox CEO Asha Sharma has announced a major reorganization of the gaming division's leadership. The changes promote longtime Xbox veterans and bring in new executives with expertise in AI, design, and growth. Sharma aims to build capabilities for a more affordable, personal, and open platform.

 

 

 

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