{"id":64141,"date":"2018-11-22T16:36:00","date_gmt":"2018-11-22T16:36:00","guid":{"rendered":"http:\/\/www.gamasutra.com\/view\/news\/331294"},"modified":"2018-11-22T16:36:00","modified_gmt":"2018-11-22T16:36:00","slug":"gamestop-to-sell-spring-mobile-division-for-700-million","status":"publish","type":"post","link":"https:\/\/sickgaming.net\/blog\/2018\/11\/22\/gamestop-to-sell-spring-mobile-division-for-700-million\/","title":{"rendered":"GameStop to sell Spring Mobile division for $700 million"},"content":{"rendered":"<p>U.S. video game retailer GameStop intends to <a href=\"http:\/\/news.gamestop.com\/news-releases\/news-release-details\/gamestop-sell-spring-mobile-division-700-million\">sell its Spring Mobile business<\/a>\u00a0to Prime Communications LP for $700 million as part of its ongoing strategic and financial review.<\/p>\n<p>Spring Mobile currently owns and operates 1,289 AT&amp;T wireless stores, and GameStop hopes that by selling the company it will be able to reinvest some cash\u00a0into its core video game and collectibles business.<\/p>\n<p>Proceeds from the sale might also be put towards\u00a0fund share repurchases, and paying off some of the company&#8217;s outstanding debt.<\/p>\n<p>&#8220;This transaction enables GameStop to enhance our performance with an increased focus on the video game industry and the rapidly-growing collectibles space,&#8221; explained Dan DeMatteo, executive chairman of GameStop&#8217;s board of directors.\u00a0<\/p>\n<p>&#8220;These are areas where we have considerable experience and where we are well positioned to capitalize on our competitive position.&#8221;\u00a0<\/p>\n<p>The transaction is expected to close during the fourth quarter of the fiscal year ended March 31, 2019.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>U.S. video game retailer GameStop intends to sell its Spring Mobile business\u00a0to Prime Communications LP for $700 million as part of its ongoing strategic and financial review. Spring Mobile currently owns and operates 1,289 AT&amp;T wireless stores, and GameStop hopes that by selling the company it will be able to reinvest some cash\u00a0into its core [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":64142,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-64141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/64141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/comments?post=64141"}],"version-history":[{"count":0,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/posts\/64141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media\/64142"}],"wp:attachment":[{"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/media?parent=64141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/categories?post=64141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/sickgaming.net\/blog\/wp-json\/wp\/v2\/tags?post=64141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}