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CORRECTED-UPDATE 1-GameStop investor Ryan Cohen urges strategic review

(Corrects to say RC Ventures is not interested in getting a lone board seat, not a board seat, in paragraph 2)

Nov 17 (Reuters) - One of GameStop Corp’s largest shareholders, Ryan Cohen, has urged the videogame retailer to conduct a strategic review of its business and to focus on digital sales by moving away from its traditional brick-and-mortar model.

Cohen’s RC Ventures LLC, which owns nearly 10% of the company’s outstanding common stock, is not interested in getting a lone board seat, according to a letter filed with regulators on Tuesday.

"GameStop needs to evolve into a technology company that delights gamers and delivers exceptional digital experiences – not remain a video game retailer that overprioritizes its brick-and-mortar footprint and stumbles around the online ecosystem," Cohen said in the letter here addressed to the board.

GameStop did not immediately respond to a request for comment on the letter.

Cohen, who is also a co-founder of e-commerce firm Chewy Inc , had raised his stake in GameStop in September and disclosed that he was in discussions with the company’s management and board members.

GameStop’s shares were down nearly 4% premarket trading. (Reporting by Akanksha Rana and Eva Mathews in Bengaluru; Editing by Krishna Chandra Eluri and Sriraj Kalluvila)

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