It’s been about a month since the epic closure of Electronic Gaming Monthly/the gutting of 1Up.com. You’ve heard of it, of course, if you spend any time at all reading gaming sites, but I’ll reiterate: 1Up was awesome, they had great editorial and a stable of truly excellent video/audio content. But their parent company (Ziff Davis) was bankrupt, and they sold the site to UGO (a Hearst property), and in the ensuing kerfluffle, most of the staff was laid off, the magazine was dead, and most of the audio/video shows were canned. Outrage ensued.

Well, here we are a month later.

Man, what a week to go on vacation. I returned back to the states yesterday, all rested from a nice little tropical getaway, and what do I find – that my favorite magazine of all time has been abruptly canned, along with a huge portion of the network that it was part of. I know that everyone has heard about the demise of Electronic Gaming Monthly, and about the massive firing of 1Up Network staff (among them, most of the people responsible for the phenomenal podcasts and video content on the site), a result of the network being bought by UGO (part of the Hearst company).

We are sorry to interrupt (or at least emotionally hijack) CES coverage but our earlier report about UGO acquiring the 1UP network has been officially confirmed.

Properties sold include: 1UP.com, Mycheats.com, Gametab.com and GameVideos.com. Filefront will reportedly become part of the PCMag Digital Network.

Unfortunately, however, things won’t be going over as smoothly as we first thought. Gamasutra got a hold of an internal email in which Ziff Davis CEO Jason Young says that “more scale is necessary to effectively compete in this market segment”.

To start with, Electronic Gaming Monthly, better known as EGM, will officially cease printing…

Joystiq is reporting through “multiple sources” that the UGO network is currently in “advanced talks” with Ziff Davis over the purchase of the 1UP network.

Neither 1UP, Ziff Davis, or UGO has yet to comment on the situation, so as of writing, Joystiq is our only source of information. The buyout will supposedly include websites 1UP, GameVideos and MyCheats. Meanwhile Electronic Gaming Monthly, the remainder of Ziff Davis’ gaming publications, and FileFront will probably not be…