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GameStop Swoops In To Buy ThinkGeek For $140 Million
Lirodon writes: Remember a few days ago, when Slashdot's former parent company was the subject of a $122 million takeover bid by Hot Topic? Well, another geeky retailer entered the fray in the battle for ThinkGeek, and won. GameStop will be acquiring Geeknet for $140 million. The video game retailer has promised synergies, such as in-store pickup and integration with its rewards program.
haven't been to one since they did a closure sale and I was able to pick up a bunch of Kinects for $20 each. Now if they could also buy Radio Shack...
Liberty - Security - Laziness - Pick any two.
I think it's a better buyer, personally. Hot Topic just seemed like an organization that would not appreciate all of the little, goofy, technical-fun bits of TG that I like. GameStop is closer, I think, to knowing the TG target customer.
.. pa-ra-bo-la, pa-ra-bo-la, 2 pi R, 2 pi R, where's your latus rectum, where's your latus rectum, 2 pi R
I think this is a good move. Gamestop can certainly use the power that thinkgeek has. Last year I redeemed some points that I earned from Gamestop to purchase something from their rewards store. Most of the things there are stupid Nintendo lanyards or bracelets - completely useless and hardly noteworthy. I opted for a Skyrim Daedric sword letter opener. It was cool, but badly made. If they offered a coupon for something in thinkgeek's catalog, I would have been much happier.
That's what happens when you buy all your competitors.
Everybody seems to think this is a bad idea. However, I think it's awesome. There are gamestops everywhere around my house. Probably 5 within 10 miles in any direction. Imagine if those places carried more than used games and consoles. Imagine for a moment that they also carry the same cool stuff that you would normally want to buy, but the shipping costs might have turned you away.
Personally, I think this is great news. My T-shirt collection will probably double in size over the next year.
Can't wait to see how these "synergies" torpedo thinkgeek.
Of course we'll act shocked that it ruins thinkgeek.
Mod me down with all of your hatred and your journey towards the dark side will be complete!
At least Hot Topic owning ThinkGeek was amusing
I think, of the two, Hot Topic could have significantly grown the brand - and ultimately that would have been good for geekdom, writ large.
Not sure how the deal is being structured, but if it's a stock deal, this is bad for shareholders. Gamers aren't going to spend their cash on a bunch of crap that they can't play and non-gamer geeks aren't going to go hang around in Gamestop shopping for stuff with all the smelly gamers in there. Whatever the difference per diluted share Gamestop is bringing, that'll all get pissed away within the first year.
One presumes, though, that it's a partial cash deal and the extra dozen-million bucks or so will be split up among the managers. So ... good news for the competition. Around here we have a chain called Newbury Comics that competes in this space. Right now is the time for them to get a huge funding round...
My God, it's Full of Source!
OUTSIDE_IP=$(dig +short my.ip @outsideip.net)
The average Gamestop barely has room for their requisite 3 neckbeards and 40 copies of Gears of War 2 as it is.
SJW's don't eliminate discrimination. They just expropriate it for themselves.
Did Gamestop pre-order geeknet?
Will I now need to pre-order things on ThinkGeek, or not get them at all?
Inquiring minds want to know!
If you weren't too fucking lazy to read the article, you might know that it's a combination of $37 million and $20/share. You don't deserve your low ID.
While you were busy 'reading articles', he was busy getting a low ID. BTW, UID 1 never read an article.
Jesus was all right but his disciples were thick and ordinary. -John Lennon