Exhibit 99.2
GameStop and Electronics Boutique Stockholders Approve Merger; Strategic
Acquisition Positions GameStop as a Leading Global Video Game Retailer
GRAPEVINE, Texas, Oct 06, 2005 (BUSINESS WIRE) -- GameStop Corp.
(NYSE:GME)(NYSE:GME.B) and Electronics Boutique Holdings Corp. (Nasdaq:ELBO)
announced today that stockholders, at separate stockholders' meetings of both
companies, approved the business combination between GameStop and Electronics
Boutique.
The companies expect the business combination to close on October 8, 2005 and
trading of Class A and Class B common stock of GSC Holdings Corp. (to be renamed
GameStop Corp.) to begin on October 10, 2005 on the New York Stock Exchange
under the symbols "GME" and "GME.B", respectively.
"This merger combines two of the fastest-growing video game retailers and
positions GameStop for long-term leadership domestically and internationally,"
indicated R. Richard Fontaine, Chairman and Chief Executive Officer of GameStop.
"Bringing together GameStop and Electronics Boutique creates a wealth of growth
opportunities, as well as important cost and selling synergies maximizing
stockholder value."
"We are proud of Electronics Boutique employees, whose world-class capabilities
have enabled us to deliver outstanding performance," said Jeffrey Griffiths,
President and Chief Executive Officer of Electronics Boutique Holdings Corp. "As
we become one organization, I am also pleased that our stockholders will have
the opportunity to participate in GameStop's continued long-term growth in this
fast-growing specialty retail sector."
Additional Information about This Transaction
GSC Holdings Corp. has filed with the Securities and Exchange Commission a
Registration Statement on Form S-4 (Registration No. 333-125161) containing a
joint proxy statement-prospectus regarding the proposed transaction involving
GameStop and Electronics Boutique. GameStop and Electronics Boutique mailed the
definitive joint proxy statement-prospectus to their respective security holders
on or about September 7, 2005. Investors are urged to read the definitive joint
proxy statement-prospectus regarding the proposed transaction as it contains
important information. Stockholders may obtain a free copy of the definitive
joint proxy statement-prospectus, as well as other filings containing
information about GSC Holdings Corp., GameStop Corp. and Electronics Boutique
Holdings Corp., without charge, at the SEC's Internet site at
http://www.sec.gov. You may also obtain these documents from the respective
websites of each of GameStop and Electronics Boutique at
http://www.gamestop.com/investor-relations and http://www.ebholdings.com. Copies
of the definitive joint proxy statement-prospectus and the SEC filings that are
incorporated by reference in the definitive joint proxy statement-prospectus can
also be obtained, without charge, by directing a request to GameStop Corp., 625
Westport Parkway, Grapevine, Texas 76051, Attention: Investor Relations, or to
Electronics Boutique Holdings Corp., 931 South Matlack Street, West Chester,
Pennsylvania 19382, Attention: Investor Relations. This press release shall not
constitute an offer to sell or a solicitation of an offer to purchase any
securities, and shall not constitute an offer, solicitation or sale in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About GameStop Corp.
Headquartered in Grapevine, Texas, GameStop Corp. (NYSE:GME) (NYSE:GME.B) is one
of the nation's largest video game and entertainment software retailers. The
company operates 1,980 retail stores throughout the 50 states, the District of
Columbia, Puerto Rico, Ireland and the United Kingdom, primarily under the
GameStop(R) brand. In addition, the company owns a commerce-enabled Web
property, GameStop.com, and Game Informer(R) magazine, a leading video and
computer game publication.
GameStop Corp. 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 to
more than 30 million customers.
General information on GameStop Corp. can be obtained via the Internet by
visiting the company's corporate website:
http://www.gamestop.com/investor-relations/.
About Electronics Boutique Holdings Corp.
Electronics Boutique, a Fortune 1000 company, is a leading global retailer
dedicated exclusively to video game hardware and software, PC entertainment
software, accessories and related products. As of July 30, 2005, the company
operated 2,280 stores in the United States, Australia, Canada, Denmark, Finland,
Germany, Italy, New Zealand, Norway, Puerto Rico, Spain and Sweden -- primarily
under the names EB Games and Electronics Boutique. The company operates an
e-commerce website at http://www.ebgames.com. Additional company information is
available at http://www.ebholdings.com.
SAFE HARBOR
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements include, but
are not limited to, statements about the benefits of the business combination
transaction involving GameStop and Electronics Boutique, including future
financial and operating results, the new company's plans, objectives,
expectations and intentions and other statements that are not historical facts.
Such statements are based upon the current beliefs and expectations of
GameStop's and Electronics Boutique's management and are subject to significant
risks and uncertainties. Actual results may differ from those set forth in the
forward-looking statements.
The following factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: the risk that the businesses
will not be integrated successfully; the risk that the cost savings and any
other synergies from the transaction may not be fully realized or may take
longer to realize than expected; disruption from the transaction making it more
difficult to maintain relationships with customers, employees or suppliers; and
competition and its effect on pricing, spending, third-party relationships and
revenues. Additional factors that could cause GameStop's and Electronics
Boutique's results to differ materially from those described in the
forward-looking statements can be found in the Annual Reports on Forms 10-K/A of
GameStop and Electronics Boutique for the fiscal year ended January 29, 2005
filed with the SEC and available at the SEC's Internet site at
http://www.sec.gov.
GameStop and Electronics Boutique Stockholders Approve Merger; Strategic
Acquisition Positions GameStop as a Leading Global Video Game Retailer
GRAPEVINE, Texas, Oct 06, 2005 (BUSINESS WIRE) -- GameStop Corp.
(NYSE:GME)(NYSE:GME.B) and Electronics Boutique Holdings Corp. (Nasdaq:ELBO)
announced today that stockholders, at separate stockholders' meetings of both
companies, approved the business combination between GameStop and Electronics
Boutique.
The companies expect the business combination to close on October 8, 2005 and
trading of Class A and Class B common stock of GSC Holdings Corp. (to be renamed
GameStop Corp.) to begin on October 10, 2005 on the New York Stock Exchange
under the symbols "GME" and "GME.B", respectively.
"This merger combines two of the fastest-growing video game retailers and
positions GameStop for long-term leadership domestically and internationally,"
indicated R. Richard Fontaine, Chairman and Chief Executive Officer of GameStop.
"Bringing together GameStop and Electronics Boutique creates a wealth of growth
opportunities, as well as important cost and selling synergies maximizing
stockholder value."
"We are proud of Electronics Boutique employees, whose world-class capabilities
have enabled us to deliver outstanding performance," said Jeffrey Griffiths,
President and Chief Executive Officer of Electronics Boutique Holdings Corp. "As
we become one organization, I am also pleased that our stockholders will have
the opportunity to participate in GameStop's continued long-term growth in this
fast-growing specialty retail sector."
Additional Information about This Transaction
GSC Holdings Corp. has filed with the Securities and Exchange Commission a
Registration Statement on Form S-4 (Registration No. 333-125161) containing a
joint proxy statement-prospectus regarding the proposed transaction involving
GameStop and Electronics Boutique. GameStop and Electronics Boutique mailed the
definitive joint proxy statement-prospectus to their respective security holders
on or about September 7, 2005. Investors are urged to read the definitive joint
proxy statement-prospectus regarding the proposed transaction as it contains
important information. Stockholders may obtain a free copy of the definitive
joint proxy statement-prospectus, as well as other filings containing
information about GSC Holdings Corp., GameStop Corp. and Electronics Boutique
Holdings Corp., without charge, at the SEC's Internet site at
http://www.sec.gov. You may also obtain these documents from the respective
websites of each of GameStop and Electronics Boutique at
http://www.gamestop.com/investor-relations and http://www.ebholdings.com. Copies
of the definitive joint proxy statement-prospectus and the SEC filings that are
incorporated by reference in the definitive joint proxy statement-prospectus can
also be obtained, without charge, by directing a request to GameStop Corp., 625
Westport Parkway, Grapevine, Texas 76051, Attention: Investor Relations, or to
Electronics Boutique Holdings Corp., 931 South Matlack Street, West Chester,
Pennsylvania 19382, Attention: Investor Relations. This press release shall not
constitute an offer to sell or a solicitation of an offer to purchase any
securities, and shall not constitute an offer, solicitation or sale in any state
or jurisdiction in which such an offer, solicitation or sale would be unlawful.
About GameStop Corp.
Headquartered in Grapevine, Texas, GameStop Corp. (NYSE:GME) (NYSE:GME.B) is one
of the nation's largest video game and entertainment software retailers. The
company operates 1,980 retail stores throughout the 50 states, the District of
Columbia, Puerto Rico, Ireland and the United Kingdom, primarily under the
GameStop(R) brand. In addition, the company owns a commerce-enabled Web
property, GameStop.com, and Game Informer(R) magazine, a leading video and
computer game publication.
GameStop Corp. 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 to
more than 30 million customers.
General information on GameStop Corp. can be obtained via the Internet by
visiting the company's corporate website:
http://www.gamestop.com/investor-relations/.
About Electronics Boutique Holdings Corp.
Electronics Boutique, a Fortune 1000 company, is a leading global retailer
dedicated exclusively to video game hardware and software, PC entertainment
software, accessories and related products. As of July 30, 2005, the company
operated 2,280 stores in the United States, Australia, Canada, Denmark, Finland,
Germany, Italy, New Zealand, Norway, Puerto Rico, Spain and Sweden -- primarily
under the names EB Games and Electronics Boutique. The company operates an
e-commerce website at http://www.ebgames.com. Additional company information is
available at http://www.ebholdings.com.
SAFE HARBOR
This press release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995. Such statements include, but
are not limited to, statements about the benefits of the business combination
transaction involving GameStop and Electronics Boutique, including future
financial and operating results, the new company's plans, objectives,
expectations and intentions and other statements that are not historical facts.
Such statements are based upon the current beliefs and expectations of
GameStop's and Electronics Boutique's management and are subject to significant
risks and uncertainties. Actual results may differ from those set forth in the
forward-looking statements.
The following factors, among others, could cause actual results to differ from
those set forth in the forward-looking statements: the risk that the businesses
will not be integrated successfully; the risk that the cost savings and any
other synergies from the transaction may not be fully realized or may take
longer to realize than expected; disruption from the transaction making it more
difficult to maintain relationships with customers, employees or suppliers; and
competition and its effect on pricing, spending, third-party relationships and
revenues. Additional factors that could cause GameStop's and Electronics
Boutique's results to differ materially from those described in the
forward-looking statements can be found in the Annual Reports on Forms 10-K/A of
GameStop and Electronics Boutique for the fiscal year ended January 29, 2005
filed with the SEC and available at the SEC's Internet site at
http://www.sec.gov.