GameStop gets into films with MovieStop
MARCH 7 | GameStop has quietly gotten into the movie business.
The largest U.S. videogame retailer has opened about 40 stores under the MovieStop moniker in Mid-Atlantic and southern states. The stores buy, sell and trade DVDs, but do not rent. Locations either adjoin or are nearby GameStop stores.
GameStop, which has about 5,000 stores worldwide, is saying little about MovieStop. The company, which earlier this month said fourth-quarter earnings beat its forecast on higher per-store sales, doesn’t disclose MovieStop information in its public filings. Spokesman Chris Olivera declined to comment beyond confirming that GameStop owns MovieStop. MovieStop head Russ Howard declined to comment.
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| Submitted by: | Craig Crumpton (voiceroy@yahoo.com) 3/7/2008 8:44:00 PM PT |
I don't know why the GameStop and MovieStop execs are being so tight-lipped about this. You could've called any random GameStop or MovieStop employee and they would've told you that MovieStop is not owned by GameStop. They have entirely separate corporate headquarters. MovieStop was started by a couple former suits with GameStop Corporate who spun off the "sister" company with GameStop financial backing. But other than having a vested financial interest in MovieStop, GameStop has no other corporate connections with the company.
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