Ziff Davis has officially sold the entire 1UP network to the Hearst Corporation. UGO.com, a unit of the Hearst Corporation will assume control over 1UP in the near future.
After a comprehensive process, this morning we completed a deal with Hearst Interactive, the owner and operator of UGO Entertainment. 1UP.com, MyCheats.com, Gamevideos.com, and Gametab.com will now all be part of the UGO Entertainment business. Many of our employees will travel with this business and become part of the UGO team.As noted in the letter sent to Ziff Davis employees, EGM's last issue is the January 2009 issue. The publication certainly had a great 19 year run.
With this transaction happening, we have also made the decision to discontinue publication of EGM. The January 2009 issue will be the final issue of the publication. With demand for print continuing to decline amongst both advertisers and readers and the content being produced by 1UP no longer available for use in the publication, it simply did not make sense for us to move forward with this business any longer.
We will continue to operate the Filefront business as a part of the PCMag Digital Network. In the coming months we will determine the best ways to leverage the scale and functionality of this digital property to expand our business position.