In the final step to what has apparently been an ongoing rumor, gaming website conglomerate 1up.com has been bought up by UGO Entertainment, and its parent company, the Hearst Corporation. The deal includes all the sites and publications connected with 1up, including GameVideos.com, MyCheats.com, and GameTab.com.

Perhaps more disturbing, however, is the fact that Electronic Gaming Monthly, a major source of video game information since its founding back in 1989, will be ceasing publication immediately. According to MTV”s Multiplayer Blog, the January issue, which is on newstands now (featuring X-Men: Origins: Wolverine on its cover) will be the magazine’s last.

In addition to the closing of the great publication, it has been rumored that roughly 30 staffers at 1up.com and across the various entities have lost their jobs as a result of the buyout. We at GameLemon wish everyone involved the best of luck in the future, and I’d like to personally thank EGM for giving us such great info and cool features over the years.

This entry was posted on Tuesday, January 6th, 2009 at 9:16 pm and is filed under Game Chat, Gaming Events, Gaming News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.