It looks like UGO Entertainment, part of publishing giant Hearst Corporation, is on its way to snatching up Ziff Davis' 1UP Network. As I reported earlier, Ziff Davis has shut down the print version of the once glorious PC Magazine and is considering shutting down the print version of Electronic Gaming Monthly (EGM). Selling off 1UP would be a huge coup for UGO and would give Ziff Davis a cash infusion. Joystiq reports:
"Multiple sources in and around Ziff Davis Media have told Joystiq that UGO Entertainment is on the verge of finalizing a deal to buy parts of Ziff's 1UP Network, including 1up.com, GameVideos.com and MyCheats.com. The sources, who asked to remain anonymous due to the sensitivity of the talks, confirmed to Joystiq that the companies were in 'very advanced talks' regarding the sale of many of Ziff's popular gaming web sites."
I hope everything works out well for the 1UP crew. There are a lot of excellent people there and I'd hate to see them fall victim to the old acquire-assimilate-layoff routine.
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