GameStop Announces New $500 Million Share & Debt Repurchase Authorization

GameStop Corp. GME, the world's largest multi-channel video game retailer, today announced that its Board of Directors has authorized $500 million in additional funds for its share and debt repurchase program. This authorization replaces the $300 million plan announced in September 2010, under which, as of today, $138.4 million remained available for use. The funds will be used over the next 18 months to repurchase the company's stock and/or Senior Notes.