UGO Entertainment and its parent company, the Hearst Corporation, have purchased the 1UP network from Ziff-Davis. This purchase includes 1UP.com and its sister sites, GameTab.com, GameVideos.com, and MyCheats.com. 40 employees have also been let go due to the sale and the much beloved magazine, Electronic Gaming Monthy, is no more.
The news shouldn’t have come as much of a shock with all of the news surrounding Ziff-Davis’ financial situation and all of the rumors of a possible purchase, but it did to all of us. Our thoughts go out to all of the talented people that were let go. We hope the very best for you guys and we look forward to seeing what is next for each of you.
Stephen Totilo has posted an interview that he had with UGO’s CEO, J Moses. In the interview, J Moses states that he and his company shouldn’t be seen as the bad guys in this whole situation. In his eyes, his company saved 1UP and its sister sites from going away completely. He states that most of the layoffs were due to the closure of EGM, which was a decision made by Ziff-Davis. Read the full interview here.
