More like GME buying someone in order to diversify. If CC did the buying, they would likely drive both out of business within 24 months.
Remember that CC had appliances which had/has margins in the 30% range and they couldn't figure out how to make it work. SHC and BBY spanked them into getting out of that business model. Now, their stores look 1/3 empty as they are all too big for the product mixes they carry currently.
CC and BBY both need to figure out what they will do long term to stem the tide of erroding margins in the HDTV market and related items like DVD players.
Also, the market for CD's at retail is virtually gone and both are just jam packed full of them. Most malls can't support record stores anymore because of the on-line revolution.
GME will have a lot of cash in the next 24 months. I'm certain that they will continue to explore whatever options are out there for continued growth opportunities. Their management team is among the best in retail right now. With the current stock incentive programs out there for their teams, they will continue to execute in order to maximize their financial opportunties.