00:00GameStop CEO Ryan Cohen's ambitious attempt to buy eBay has officially been rejected.
00:05eBay's board dismissed the proposed $56 billion takeover,
00:10calling the offer unrealistic and financially unworkable.
00:13Cohen argued the merger could create a massive online marketplace
00:17capable of competing more directly with Amazon,
00:20but investors appeared skeptical of the plan.
00:23Shares of both companies slipped following the news,
00:25though Cohen has suggested he may continue pursuing strategic options.
00:30The failed pitch marks another dramatic chapter
00:33in GameStop's ongoing effort to reinvent itself beyond traditional video game retail.
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