PSP News: EB and Gamestop Merger One Step Closer - PSP News

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EB and Gamestop Merger One Step Closer

The merger of Gamestio and Electronics Boutique has come one step closer after receiving the go-ahead from their stockholders.

"This merger combines two of the fastest-growing video game retailers and positions GameStop for long-term leadership domestically and internationally," indicated R. Richard Fontaine, Chairman and Chief Executive Officer of GameStop. "Bringing together GameStop and Electronics Boutique creates a wealth of growth opportunities, as well as important cost and selling synergies maximizing stockholder value."

The two businesses will become one on October 8th and trading of Class A and Class B common stock of GSC Holdings Corp. (to be renamed GameStop Corp.) will start on October 10, 2005 on the NYSE under the symbols "GME" and "GME.B", respectively.

"We are proud of Electronics Boutique employees, whose world-class capabilities have enabled us to deliver outstanding performance," said Jeffrey Griffiths, President and Chief Executive Officer of Electronics Boutique Holdings Corp. "As we become one organization, I am also pleased that our stockholders will have the opportunity to participate in GameStop's continued long-term growth in this fast-growing specialty retail sector."

10/6/2005 Aaron Thomas

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