Blockbuster Sells U.K. Retail Group
Blockbuster Inc., the absurdly massive movie rental chain based out of the USA, has sold Game Station Ltd to Game Group Plc for $150 million. Game Station, which from what I understand is a British version of GameStop, was bought by Blockbuster in 2002 and is now being sold off because the company is getting rid of its "non-core" assets:
The deal "underscores our intent to focus on our Blockbuster-branded assets in North America in support of our goal to grow our overall share of the video rental market, both in-store and online," Blockbuster Chief Executive John Antioco said in a statement.Blockbuster and other store-based video rental chains have been hit by declining rental revenue since 2005, as online DVD rental and other forms of entertainment have cut into in-store rental revenue.
Gee, people would rather get their game rentals through the mail instead of dealing with a limited selection, screaming crowds, and clerks who are often totally clueless of their selection? Go figure.
Blockbuster sells video game unit for $150M [CNN Money]
Boy of Tomorrow
Posted to Miscellany on 3 May 2007
· Comments (1)
Other stuff like this: blockbuster, game group, game station, games, gamestop, sale
This is pretty terrible news as far as UK gaming retail is concerned. Gamestation and GAME (the company that bought Gamestation off Blockbuster) were the only two major chains in the country, so now GAME have a US-style monopoly.
Gamestation was always much better than GAME, as well - the staff always seemed more knowledgeable and under less pressure from management to push pre-orders and shit. Plus they sell retro games and consoles and stuff.