"We are announcing today the sale of our 1UP digital business to UGO Entertainment, a dvision of Hearst Corporation.

Over the course of the last 4 years we have built the 1UP sites into a top tier gaming digital destination. While our growth has been sharp, it has become apparent that more scale is necessary to effectively compete in this market segment.

We made the decision that the best path to putting our award winning 1UP brand and content in a more competitive position was to combine it with the operations of another publisher. We received much interest from other parties.

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.

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."Gamasutra: Ziff Davis Sells 1UP Network To UGO/Hearst, Closes EGM (January 7, 2009)