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May 03, 2007
Blockbuster Sells Its Games Station Business For £74M
On the same day Blockbuster announced poor earnings but a sharp upramp in new subscribers, it also announced that Game Group has acquired its British video game unit, Games Station, from Blockbuster U.K. for £74M ($148M). Game Station is a British PC and video games retailer employing more than 1,800 in 217 stores.
In 2006, Game Station had Ebitda of £6.5M on revenue of £203.5M. The buyer said they expect the acquisition to deliver synergies of approximately £7M per year by the second full year following completion through improved efficiency, inventory management and leveraging existing overheads.
Posted on May 3, 2007 07:16 PM | Posted to Games (PC and other) | Permalink
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