As numerous sources are reporting, Hearst's UGO Entertainment has acquired 1UP from financially-troubled Ziff-Davis. Along with the 1UP sale, ZD is ceasing publication of Entertainment Gaming Monthly. Perhaps the best-known print publication for video game enthusiasts, EGM has been in operation since 1989.
Joystiq has a list of 1UP and EGM staffers who have lost their jobs. Among these are some well-known game journos, including James "Milkman" Mielke and Shane Bettenhausen.
Reactions have come swiftly and many are saddened by the layoffs:
-Kombo has a list of Twitter accounts wherein several former and current 1UP and EGM staffers are tweeting about the situation.
-Former Computer Gaming World (yet another defunct ZD mag) editor Jeff Green blogged:
A sad day for all the folks at 1up.com... my condolences go out to all those now looking for work. The list of people they decided to lay off is just crazy. Don't ask me to make any sense of it, because I don't see any.
R.I.P. 1up.com. They may keep your URL, there, but we all know better.
-God of War designer David Jaffe blogged as well:
My heart goes out to all those 1up and EGM folks who lost their jobs today. It's a real shame considering what an important part you guys/gals have played in the US gaming world all these years. Thanks for the many, many years of great, entertaining work.
-Valve Software tweeted a condolence:
Sorry to see things go down like that. Best of luck to the guys at EGM and GV
UPDATE: Jeff Green added a bit of a rant...
UPDATE 2: EA's Peter Moore weighs in:
I was saddened to see the announcement this afternoon that Electronic Gaming Monthly is closing its doors as part of the Hearst acquisition of the Ziff Davis Media gaming assets. EGM has been a print publication mainstay of our industry for two decades, and while the real-time nature of web sites has put long-lead magazines and print media in general across most genres under real pressure, it is a sad day when such an important icon in gaming has to say goodbye.