UGO Acquires 1UP, EGM Closes
by Rangebar Merani on January 6, 2009 at 10:38 pm
It’s official, folks. After numerous reports and posts today from many different media outlets, Ziff Davis has sold 1UP and its associated sites GameVideos.com, MyCheats.com, and GameTab.com to Hearst Corporation, parent company of UGO. And,sadly, Electronic Gaming Monthly is being shut down after 20 strong years of publication.
“We believe this is a smart transaction for Ziff Davis Media that places these market leading assets and teams in a great environment poised for further success. The transaction allows us to pay down debt and shift our full focus to our core PCMag Digital Network business. We thank our 1UP team members for their contributions and wish them the best of success into the future”, said Ziff Davis Media CEO Jason Young.
“Since we started UGO 11 years ago, we have served the gamer community and built a world-class online publishing platform,” said J Moses, CEO of UGO Entertainment. “The acquisition of 1UP, with its authentic voice, tenured editorial personalities and bustling user community, allows us to expand our base of quality content and represents a major step forward in UGO’s mission to become the leader in the games space.”
Being a huge fan of the 1UP Network and EGM, it was strange to find out about this news. The January 2009 issue of EGM (which is in stores now) will be the last issue of the print magazine.
And what makes things even worse is that the buyout has caused a lay-off of 30 Ziff-Davis employees, many of them very well-known journalists, including James Mielke and Shane Bettenhausen. Very sad news indeed about the lay-offs and I wish the ones let go good luck in their futures.
Source: Gamasutra
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4 Comments » |
on January 7, 2009 2:21 am
So am I going to get a refund on the rest of my subscription?
on January 7, 2009 3:28 am
good question dan… its a shame that this mag had to go under, i remember getting egm2… i think i have the three part 100th mag poster…sigh…atleast i have the last one.
on January 7, 2009 11:31 am
Yeah, I remember EGM2 also, and then that got canceled, they brought out GMR and I got an automatic subscription to that when Official PlayStation Magazine and Xbox Nation were canceled… which also got canceled, and then all of my subscription time got transfered to GFW magazine, which then went “online only” and all of my subscriptions were transfered to EGM until like 2011… and now that magazine is canceled. Seems like a long time coming and isn’t really a surprise to me at this point.
on January 7, 2009 3:40 pm
Don’t worry Dan, now with all those extremely talented and unique individuals and personalities being axed by UGO, UGO will transfer your EGM sub. to their “tits of the week*” publication.
This is a sad day for all video game journos as some of the most talented individuals in the industry have been let go by a clueless business decision.
*”tits of the week” is not a real publication, but I can see UGO doing it since, you know… men are the only people who play video games. Men with BALLS.