Game buys GameStation

Game, the UK video game retailer has bought its nearest high street competitor Gamestation for £74 million.

All of Gamestation's 217 stores have been sold to the retailer, however Game has said that both chains will keep their own branding rather than merge into one chain.

Game cites the buyout as a way of appealing to the hardcore gamers.

"Two very distinct brands that will appeal to two different markets, Game to the mass market and Gamestation to the hardcore gamer", said Lisa Morgan, CEO of Game.

"It's all about having a second brand on the high street", added Morgan.

As part of the deal, GameStation deals and offers in BlockBuster stores will be phased out over the next couple of months.