GameStop CEO Ryan Cohen is reportedly considering dropping his eBay bid for a revised offer that could include a partnership between the two companies.
The latest update on the ongoing GameStop-eBay saga comes from Bloomberg. The site reported today that Cohen, who has been on a mission to acquire the online auction site since May 2026, is reportedly considering pulling his $56 billion offer in favor of a new angle.
Instead of outright acquiring eBay, GameStop could propose a partnership or joint venture. Should that play out, the gaming-centered collectible company would allow eBay to leverage the 1,600 shops it oversees in the United States. A partnership of this magnitude would theoretically see GameStop looking for representation on eBay’s board.
As far as public-facing comments are concerned, however, GameStop is still very much pursuing ownership of eBay. Cohen kicked off his quest to acquire the e-commerce company when he and his company made an unsolicited $55.5 billion offer at $125 per share in cash and stock back in May. The goal, he told The Wall Street Journal, was to transform it into a “legit competitor to Amazon.”
It was lofty goals and a high price tag that arrived out of the blue for the average consumer, but it didn’t seem to move the needle for eBay. One week after the initial offer, eBay announced it had rejected Cohen’s offer following a “thorough review.” The opening lines of its response called GameStop’s offer “neither credible nor attractive.”
Cohen has remained unyielding, regardless. Last month, his company announced it had bumped its ownership from 5% to almost 10%, with the CEO reaffirming his commitment to build eBay into “something much more profitable and much larger.”
“None of these things come at the expense of growth – it’s actually the opposite,” he said at the time. “The more efficient you get, the easier it is to grow. It makes too much sense. That’s why I want to buy it. It’s not that complicated.”
“I’m not going to call my shots,” he added, “but we’re coming for eBay one way or another.”
Should Bloomberg’s reporting prove accurate, it means Cohen could drop the acquisition offer for a partnership. For now, though, GameStop is said to still be weighing other potential paths forward.
GameStop announced it would be closing hundreds of stores in January of this year. Alongside its closure announcement was the news that Cohen was aiming to take home $35 billion in performance-based stock options. For more, you can read about why gaming retailer boss isn’t too worried about Sony’s recent decision to kill production of physical PlayStation games.
Photo by Harun Ozalp/Anadolu via Getty Images.
Michael Cripe is a freelance writer with IGN. He’s best known for his work at sites like The Pitch, The Escapist, and OnlySP. Be sure to give him a follow on Bluesky (@mikecripe.bsky.social) and Twitter (@MikeCripe).
