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February 12, 2008 |
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GAMESTOP CORP: Board Okays US$130 Million Senior Notes Repurchase GameStop Corp.'s Board of Directors has authorized the buyback of up to US$130 million of the company's Senior Notes. "We are pleased that the Board has authorized this program as our debt represents a very attractive investment opportunity," GameStop chairperson and chief executive officer R. Richard Fontain said. "Our strong cash flow gives GameStop the ability to paydown debt even as we continue to aggressively expand our business worldwide." Under the program, GameStop may purchase debt from time to time in compliance with SEC regulations and other legal requirements, and subject to market conditions and other factors. The repurchase program does not hold any specific limitations and may be suspended or terminated at any time. Headquartered in Grapevine, Texas, GameStop Corp. (NYSE:GME) -- http://www.gamestop.com/ -- sells video games. The company operates 4,778 retail stores throughout the United States, Austria, Australia, Canada, Denmark, Finland, Germany, Italy, Ireland, New Zealand, Norway, Puerto Rico, Spain, Sweden, Switzerland and the United Kingdom. The company also owns commerce-enabled Web properties, GameStop.com and ebgames.com, and Game Informer(R) magazine, a leading video and computer game publication. GameStop sells the most popular new software, hardware and game accessories for the PC and next generation video game systems from Sony, Nintendo, and Microsoft. In addition, the company sells computer and video game magazines and strategy guides, action figures, and other related merchandise. |
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