GameStop has announced it has made a $55.5 billion offer to buy eBay at $125.00 per share in cash and stock.

CEO Ryan Cohen, who would become CEO of the combined company should the deal go through, told The Wall Street Journal he wants to make eBay a “legit competitor to Amazon,” as he bids to grow his business beyond games and merchandise and hit a $35 billion payout in the process.

GameStop said the cash part of the offer is expected to be funded from a combination of cash and liquid investments on GameStop’s balance sheet, which totaled $9.4 billion as of January 31, 2026, and “third-party acquisition financing,” with up to $20 billion in debt financing from TD Securities. GameStop did not say exactly where this third-party acquisition financing would come from.

In its announcement, GameStop said eBay isn’t making enough money for what it’s spending, and that it would deliver $2 billion of annualized cost reductions within 12 months of closing the deal, suggesting plans for significant cuts. GameStop added that its 1,600 U.S. retail locations “give eBay a national network for authentication, intake, fulfillment, and live commerce,” confirming plans to bring the eBay business into its stores.

GameStop posted a letter sent from Cohen to eBay president Paul Pressler in which the GameStop CEO said he would receive “no salary, no cash bonuses, and no golden parachute — I will be compensated solely based on the performance of the combined company.”

In an interview with The Wall Street Journal, Cohen said that if eBay turns the offer down, he will go directly to shareholders. “There is nobody who is more qualified, based on my experience, to run the eBay business,” Cohen insisted. As for where he’ll get the money needed for the deal, The Wall Street Journal said Cohen may turn to Middle Eastern sovereign-wealth funds.

It’s easy to see Cohen’s plan to fuse eBay and GameStop here, given GameStop’s current focus on nostalgia via higher-margin items such as trading cards and retro games and consoles, over selling new video games. He told The Wall Street Journal he would make GameStop stores locations to collect and authenticate items from eBay sellers. "GameStop staff already inspect and grade hardware and trading cards every day," GameStop said. "Sellers walk in, items are verified on the spot, and listings carry a trust badge." Cohen also said eBay should be doing more livestreams to sell items. “It could be a legit competitor to Amazon,” Cohen said.

As The Wall Street Journal has reported, Cohen could make up to $35 billion in stock if the company’s market value hits $100 billion, among other compensation package criteria. In January, the 40-year-old billionaire told the publication he wanted a “big” deal that is “ultimately either going to be genius or totally, totally foolish.”

As of January, Cohen had a stake of over 9% in GameStop and was its biggest individual shareholder. Investor Michael Burry, who owns shares in the company, said earlier this year that Cohen “has a crappy business, and he is milking it best he can while taking advantage of the meme stock phenomenon to raise cash and wait for an opportunity to make a big buy of a real growing cash cow business.”

At the beginning of 2025, GameStop had around 2,325 locations in the U.S., but by the end of the year it had closed 590 of them. It then kicked off 2026 by closing even more stores as part of an effort to reduce costs.

For years now some have called GameStop a dying bricks and mortar retailer as it looks to new and often bizarre ways to generate revenue. August 2023 saw the company pull out of crypto, and it shut its short-lived NFT marketplace just a few months later. More recently (and much to the dismay of its employees), GameStop held its first-ever Trade Anything Day, which saw customers bringing in literally anything for trade-in credit at their local stores.

During the 2025 financial year ending January 31, 2026, GameStop saw net sales of $3.630 billion, down from $3.823 billion in 2024. Operating income was $232.1 million, compared to an operating loss of $26.2 million in fiscal year 2024.

Photo by Smith Collection/Gado/Getty Images.

Wesley is Director, News at IGN. Find him on Twitter at @wyp100. You can reach Wesley at wesley_yinpoole@ign.com or confidentially at wyp100@proton.me.

It looks like Marathon won’t be left behind anytime soon, as Bungie has confirmed it has plans to evolve its story over at least "the next few years."

Creative director Julia Nardin teased the next steps for the former Halo developer's shiny new extraction shooter during an interview with GamesRadar. Although the multiplayer reboot is just shy of two months old, she said the team is confident enough to have at least a loose idea of what direction to take its narrative in the coming years.

"We know where we want to take the story over the next few years," Nardin said, "but I don't want to say it’s completely 'locked in' because it's important to us that our players be able to help shape it."

Bungie plopped players into the world of Tau Ceti IV when Marathon for PC, PlayStation 5, and Xbox Series X | S March 5. Its intention to build it alongside its community for the months and, ideally, years ahead is a long-term strategy it experimented with during the development of its Destiny titles, though not everyone was in love with the idea of being dropped late into stories that were years in the making.

Updates have already started to carve out the future, but Nardin said those who have yet to go on their first run have nothing to fear. This time around, she said it's important for Bungie that players can "jump into Marathon at any time."

"They'll always be able to uncover the mysteries of Tau Ceti's past while experiencing its present," Nardin added. "We want every season to be a new entry point, and for new players to be able to understand what’s going on regardless of how long we've all been running."

Recent Marathon updates have seen Bungie continuing to listen to fan feedback by increasing the amount of armor and healing consumables Runners can carry and making it easier to participate in the Cryo Archive. With Season 2 expected to launch sometime in June, seems a flow of updates will continue to roll out after reports shared that the project allegedly had around a $200 million budget and is not in immediate threat of being shut down.

We gave Marathon a 9/10 review upon its launch in March. At the time, we called it "a ruthless and unforgiving extraction shooter that’s worth every ounce of hell it puts you through."

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).

Developer Arc System Works has confirmed that Hulk and Black Panther have joined the roster of playable fighters in Marvel Tokon: Fighting Souls.

The studio confirmed the news at Evo Japan 2026, revealing a first look at the two new legendary comic book characters set to throw down when its Marvel fighting game launches this August. Appearing as Savage Hulk and Shuri's Black Panther, the two will fight as part of the group known as the Fighting Avengers, but they won't be coming alone.

As described in a follow-up PlayStation.Blog post, the Marvel Tokon trailer also highlighted Wakanda as a new stage, as well as the inclusion of the mysterious character known as The Champion. Described as a "cosmic conqueror," The Champion looms over Earth on his quest to search for worthy opponents.

Marvel Tokon is primed to give players a healthy selection of heroes and villains later this summer, but it seems like Arc System Works isn't done announcing new playable fighters. The last moments of the new trailer feature what sounds like the familiar snarl of one of the many Symbiotes Spider-Man has encountered in the past. The audio itself gives fans little to cling to, but some fans are already starting to piece together additional clues that suggest the bloodthirsty Carnage will join the roster next.

As the Symbiote-like snarl plays, a few frames of footage distort the screen. Pausing at just the right moment reveals that Spider-Man's face has been scratched out and, perhaps more interestingly, there are a series of numbers tucked away in the bottom left corner. The easiest number to make out is "361," which, as some fans online have pointed out, is potentially a reference to the first full appearance of Carnage in The Amazing Spider-Man #361.

So, while some were quick to assume the always-popular Venom may show up for Marvel Tokon, the evidence suggests that, if any Symbiote will be playable, it will be Carnage. Although it's hard to deny that Arc System Works is teasing something at the end of the Fighting Avengers trailer, it's probably best not to get your hopes up for a playable Carnage until official confirmation arrives.

Marvel Tokon will let players take control of Savage Hulk, Shuri's Black Panther, and a roster of other classic comic book characters when its August 6, 2026, release date for PC and PlayStation 5 arrives. Demos for the superhero fighting game will be available starting May 22 at Combo Breaker 2026 and May 29 at Hong Kong Comic Con 2026.

For more, you can check out the X-Men reveals – including a closer look at characters like Wolverine and Storm – that players got earlier this year. You can also read up on the leak that may have revealed the final roster count before Arc System Works increases it with DLC in the future.

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).