GameStop authorizes further $500 million for debt, stock repurchases

By Toni Weeks

San Diego, Feb. 4 - GameStop Corp.'s board of directors has authorized an additional $500 million for its share and debt repurchase program, according to a press release.

This authorization replaces the $300 million plan announced in September 2010, of which $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.

Based in Grapevine, Texas, GameStop is a video game and entertainment software retailer.

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