Following repeated rumors to the effect, Gamasutra has learned that Ziff Davis has sold its 1UP division to Hearst's UGO Entertainment, and is shutting long-running print magazine EGM in the process.
According to a statement received by Gamasutra, Ziff Davis Media has now officially announced the sale of the 1UP Digital Network to Hearst's UGO Entertainment division.
The sale includes 1UP.com, Mycheats.com, Gametab.com, and GameVideos.com, and specific financial terms of the deal were not disclosed.
In association with the move, Ziff Davis Media's EGM Magazine, a consumer game print mainstay since 1989, will be discontinued. The January 2009 issue will be the final printed issue.
