Sorry I should have been more clear. Yeah, geeknet is already publicly traded, but with these divestitures, their only remaining property is thinkgeek.
I agree it looks like they're setting up for a sale of some sort, especially in light of some recentish departures from Thinkgeek management clearing the way for an acquisition.
ThinkGeek e-commerce revenue increased 24 percent to $17.8 million for the second quarter of 2012, compared to $14.3 million for the second quarter of 2011.
Orders received increased by 21 percent in the second quarter of 2012 as compared with the same period last year.
Media revenue decreased 8 percent to $5.3 million for the second quarter of 2012, compared to $5.8 million for the second quarter of 2011.
Total cash and investments at the end of second quarter 2012 was $34.6 million.
TG has long been the revenue backbone for geeknet. Getting rid of the other properties effectively makes TG the same as geeknet meaning TG is now effectively a publicly traded company.
edit 2
also it looks like they were grouping geeknet media into a bundle prepping for a possible sale for a while, that division even had it's own web site that doesn't seem to have much purpose beyond trying to promote the properties as sales targets
GKNT is already public http://finance.yahoo.com/q?s=GKNT