"GameStop CEO Ryan Cohen, who previously led pet marketplace Chewy, told The Wall Street Journal that GameStop had built a roughly 5% stake in eBay and had a commitment of up to $20 billion in financing from TD Bank. If eBay isn't receptive, Cohen said he was prepared for a proxy fight, according to the outlet."
""I'm thinking about turning eBay into something worth hundreds of billions of dollars," Cohen told the Journal. "It could be a legit competitor to Amazon.""
"It's still unclear how exactly GameStop, at a fraction of eBay's size, would secure all the money needed for the transaction. GameStop representatives did not respond to a request for comment for this story."
"Cohen became GameStop's CEO in 2023 and proved he was bigger than just talk. He managed to cut costs, improve profitability and grow its collectibles business, despite sagging sales, according to CNBC. Under Cohen's tenure, the company grew its gross margin by 7 percentage points and its net income to $77.1 million, CNBC reported, adding that it posted two consecutive years of net income growth in 2024 and 2025 after five straight years of losses."
GameStop CEO Ryan Cohen said GameStop holds a roughly 5% stake in eBay and has a commitment of up to $20 billion in financing from TD Bank. Cohen indicated readiness for a proxy fight if eBay is not receptive. He described a goal of turning eBay into a business worth hundreds of billions of dollars and a legitimate competitor to Amazon. The article notes uncertainty about how GameStop would secure all required transaction funding given its smaller size. It also describes GameStop’s shift under Cohen from declining physical video game sales toward broader ambitions, including cost cutting, improved profitability, and growth in collectibles. Gross margin increased and net income improved, with consecutive net income growth reported after years of losses.
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