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    eBay rejects GameStop’s $56 billion takeover offer

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    A GameStop sign is displayed above a store in Urbandale, Iowa, on Jan. 28, 2021. (AP Photo/Charlie Neibergall, File)

    By Michelle Chapman, Business Writer

    NEW YORK (AP) --

    Online seller eBay is rejecting an unsolicited $56 billion takeover offer from GameStop, calling the proposal “neither credible or attractive.”

    Ryan Cohen’s GameStop disclosed earlier this month that it was pursuing a takeover of eBay, seeing it as a vehicle to compete with online retail giant Amazon.

    The national gaming retailer said at the time that its approximately 1,600 U.S. stores could become drop-off and shipping locations. One proposal included live sales broadcasts from GameStop locations featuring eBay products.

    GameStop’s bid is worth $125 per share in cash and stock. The equity value of the proposed deal is $55 billion on paper. The company previously said that it started accumulating shares in eBay beginning in February and currently has a 5% stake.

    In a letter from eBay Chairman Paul Pressler sent to Cohen, eBay’s board said that it had completed its review of GameStop’s offer and believes that eBay is a “strong, resilient business.”

    “With its differentiated global marketplace and a clear strategy, eBay’s board is confident that the company, under its current management team, is well-positioned to continue to drive sustainable growth, execute with discipline, and deliver long-term value for our shareholders,” the letter said.

    GameStop did not immediately respond to a request for comment. The company’s stock fell 4% before the market open on Tuesday.

    News Categories:News Briefs
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    Tags:eBayGameStopPaul PresslerRyan Cohen



    Conan O’Brien to return as Oscars host in 2027

    Tuesday, May 12, 2026
    Host Conan O'Brien appears during the Oscars in Los Angeles on March 15, 2026. (AP Photo/Chris Pizzello, File)

    Conan O'Brien's era as Oscars host is becoming a trilogy. The Emmy-winner and comedian will be back to host the 99th Academy Awards in 2027, film academy leaders said Tuesday.

    O'Brien hosted the last two Oscar ceremonies to positive reviews. Earlier this year, in his opening monologue, he said he was "honored to be the last human host of the Academy Awards … Next year it's going to be a Waymo in a tux."

    He'll be surrounded by a familiar team, as well, with the return of Raj Kapoor and Katy Mullan as the show's executive producers.

    Film academy leaders Bill Kramer and Lynette Howell Taylor said in a joint statement, "They are an incredible team and have produced such captivating, entertaining and heartfelt shows over the last two years," adding that they're looking forward to "Conan superbly leading the celebration with his brilliance and humor."

    After several years of ratings increases, including a post-pandemic high of 19.7 million viewers who tuned in for O'Brien's inaugural year as host, when "Anora" swept the awards, the show took a dip in viewership this year, when "One Battle After Another" was crowned best picture. Engagement for the Oscars rose by other metrics, though. Social media engagement during the broadcast went up by over 42% this year.

    "Conan has created remarkable energy around 'The Oscars,'" Craig Erwich, the president of Disney's Television Group, said in a statement. "His singular comedic voice makes Hollywood's biggest night one of the most entertaining celebrations of the year. We're proud to welcome him back and look forward to what he and the producing team deliver next."

    The 99th Oscars will be broadcast live on ABC from the Dolby Theatre in Los Angeles on Sunday, March 14, 2027. It will be the... Read More

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