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National Wireless Independent Dealer Association

GameStop to Sell Over 1200 Wireless Stores

GameStop. NWIDAAccording to a report in the Dallas Morning news (link below) GameStop is selling it’s portfolio of over 1200 AT&T Wireless Stores to Prime Communications.

The deal will make Prime Communications the largest AT&T authorized dealer in the U.S. and will cost them $700 Million.

The deal is expected to close by year-end and ends a multiple-year relationship between GameStop and AT&T. GameStop said it will use the money to pay debt, buy back shares and invest in its core business.

GameStop’s mobile division, called Spring Mobile, owns 1,289 AT&T wireless stores. GameStop's Spring Mobile wireless subsidiary stores are being sold - NWIDAThe stores were part of GameStop’s strategy to use its real estate expertise and diversify from its main video game business. GameStop built up the business, mostly through acquisitions, into the largest AT&T store operator.

Terms of its dealer agreement with AT&T changed in 2017, and the wireless stores were no longer as lucrative for GameStop.  Earlier, GameStop sold another group of AT&T stores that operated under the Cricket Wireless brand.

Prime Communications currently owns 600 AT&T stores in 22 states. This deal will triple that number.

 

Read the entire article here

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