GameStop Buying eBay For $56 Billion Sparks Mass Confusion
By Published May 4, 2026, 10:18 AM EDT Chris is a Gaming Editor at ScreenRant. He has been a professional writer since 2009, and has written for top TV, comics, movie, and video game outlets like Engadget, Polygon, Destructoid, and more. He brings with him an expertise in every game genre, no matter how niche or mainstream.
You may know him as the former Managing/Reviews Editor of Destructoid, where he published hundreds of game reviews across every genre, including MMOs, sports games, and Metroidvanias.
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I've been around enough to see the rise and fall of many iterations of . I can recall back when it was Babbage's, then segued into a variety of brand names, all the way to the current era of GameStop. , but despite a greater focus on digital sales across the market, it seems the company might have at least one more surprise up its sleeve.
Over on , GameStop has made a public proposal to acquire the auction juggernaut eBay, which has confused millions in short order. That very surprise has shocked many people at its audacity, leaving many to wonder if it's actually going to pan out. This plan is due to the current CEO and chairman, Ryan Cohen, who may alter the course of the entire company as we know it. GameStop has been making some odd moves as of late, and you can add this one to the pile.
Here's the full proposal from GameStop that led to all of this, made fully public by the company itself: "GameStop Corp. today submitted a non-binding proposal to acquire 100% of eBay Inc. at $125.00 per share in cash and stock. The offer represents a 46% premium to eBay’s unaffected closing price on February 4, 2026, the day GameStop started accumulating its position in eBay. GameStop has built a 5% economic stake in eBay through derivatives and beneficial ownership of common stock."
Yes, you heard that right: GameStop wants to buy out eBay, not the other way around. Many onlookers are stunned, accusing the move of being an empty gesture meant to generate excitement and pump up the stock. Some see it as a viable move.
One of the most shared comments is one of utter confusion: "So a $12 billion dying company is offering to buy a $46 billion company, but for $50 billion. How does that work?" Others are pitching in business strategy: "$125 is lowballing it. $EBAY should ask for $175. Ryan Cohen is the one who needs and wants this deal after all."
Some are not fans of the deal or either company: "Really? eBay is like the most untrustworthy place you can buy stuff. If I were eBay, I'd take the money and laugh all the way to the bank!"
One onlooker has a theory: "The only reason GameStop wants to do this is they want to get out of the video game business. Ebay owns one of the largest online card shops (TCGplayer). This pivot would allow GameStop to control a vast majority of card sales not to mention everything about eBay themselves."
In the end, this deal could go nowhere. But if it does, we're in for a world of changes, especially when it comes to eBay and all the subsidiaries it owns. One of eBay's biggest acquisitions in the last 10 years is TCGPlayer, a trading card commerce site that is one of the world's top-selling card houses.
For now, GameStop is back in the headlines, though. This is one wild ride that seems to have no end in sight.
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