Confirmed: Ziff Davis Sells 1UP to UGO/Hearst, Closes EGM
It has been confirmed that Ziff Davis has sold the 1UP digital network to the UGO entertainment division, this includes MyCheats, Gametab and Gamevideos. Long running print magazine EGM is also closing doors once and for all.
To quote: Following repeated rumors to the effect, Gamasutra has learned that Ziff Davis has sold its 1UP division to Hearst's UGO Entertainment, and is shutting long-running print magazine EGM in the process.
According to a statement received by Gamasutra, Ziff Davis Media has now officially announced the sale of the 1UP Digital Network to Hearst's UGO Entertainment division.
The sale includes 1UP.com, Mycheats.com, Gametab.com, and GameVideos.com, and specific financial terms of the deal were not disclosed.