EGM/1UP might be going bankrupt - Ziff Davis Media has finally hit the wall

The embattled tech media company - which has teetered on the brink for over a year as it tried to sell itself in pieces to get out from under a mountain of debt - said it skipped an interest payment due yesterday and was entering into negotiations with debt holders to restructure about $390 million in debt.

The company, which once employed over 1,200 people, now has a staff of around 290 and is down to three magazines, including PC Magazine, Electronic Gaming Monthly and Games for Windows. It also owns 15 Web sites and a conference business.

Over the years, Ziff Davis Media has closed more than 10 magazines, including [email protected] Week, Yahoo! Internet Life and ExtremeTech, as it repositioned itself to focus largely on digital content.

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xaphanze4058d ago

I never really liked this mag.
My guess is that they bashed Lair just to get some money from microsoft.

Syko4058d ago

Well if that "WAS" true, They clearly didn't ask for enough money. LOL

tonsoffun4058d ago

stop being such an ar$e, get over yourself, just because they thought lair was rubbish does in no way mean that they should go out of buisiness - I for one like 1UP and I am saddend by this news.

WaggleLOL4058d ago

It wasn't the bogus Lair review. That was just the latest in an endless cycle of platform fanboyism at EGM/1Up.

This is great news for the console world, EGM/1Up is a turd on the gaming world's shoe.

Buh bye losers!

nasim4058d ago

do you know 1up gave BIOSHOCK a 10????????????

geez they also gave PGR3 and GEARS 10 as well.

by just looking at those 3 scores you can determine the credibility of 1up/eurogamer and EGM...GAYGM

GnaM4057d ago (Edited 4057d ago )

At the same time that EGM scored Lair low, they scored Blue Dragon low too, which was a 360 game. They also scored Heroes of Mana extremely low in the same issue, for DS. There was no bias there, you dumbass fanboy.

Also, Nasim, if you're going to bash 1up for scoring Bioshock a 10, you're going to have to bash Game Informer and IGN, who gave the game a 10 and a 9.7 respectively. In fact, the lowest score the game has gotten from anyone is a 9.4, so eat it.

Gamespot-equals-EGM4057d ago (Edited 4057d ago )

No, to me and a lot of gamers the Lair review was annoying but minor.

What **really** bothered me (and a lot of other gamers) was when 1up/EGM said that if Warhawk is over $30 (downloadable version) then they (1up/EGM) would deduct 1 point from the Warhawk review. Have you ever f*cking heard of something like this before? That's total bullsh*t and totally unacceptable behavior from 1up/EGM.

And also, where was EGM, 1up or Gamespot in regards to the extreme unreliability of the Xbox 360 and its numerous hardware failures? These damn magazines (and gamespot) hardly even made mention of it. And, IMO, that's probably the one of biggest next-gen stories so far.

TheMART4057d ago

Lair just actually sucked. BTW they also reviewed Blue Dragon 7.5.

Bioshock Nasim? Not only EGM dude, this is the list of reviews:

PC Gamer UK: 9.5
OXM UK: 10
GameSpy: 10
Alternative Press: 10
Xbox World: 9.4
Gamers: 9.8
Gametrailers: 10
PCZone: 9.6
AP Mag: 10
GameInformer: 10
Gamesradar: 10
Eurogamer: 10 10
Console Gameworld: 9.9
1UP: 10
IGN: 9.7
TeamXbox: 9.5
Gamepro: 10

Still missed out on the first 20 minutes gameplay of this game? BTW the piece of swimming between the flames is ingame stuff also... Playable as you like.

JasonPC360PS3Wii4057d ago

That was N4G funny of the day there.

rubarb234057d ago

Dude, don't listen to nasim. actually try to understand this useless piece of sh!t. his mother only lets him out of their cellar once a month so acting like a total retard is only natural for him.

+ Show (6) more repliesLast reply 4057d ago
TriggerHappy4058d ago (Edited 4058d ago )

The only magazine I read now is Gameinformer, they seem to always get the exclusive news and information on the latest happenings in the gaming industry

EDIT:Some one disagrees with me because i read gameinformer and not EGM ? ..erm..OK.

s8anicslayer4058d ago

see what happens to a flameboy company!good for them, i remember when i actualy liked egm

nomuken4058d ago (Edited 4058d ago )

Hell yer!!!!!
This is good news!!!!!

Edit: They were anti ps3, losing their jobs is very funny hahahahahahahahahahahahahahaha hahahahaha Party on b!tches!!!

RadientFlux4058d ago (Edited 4058d ago )

how the heck is 1,200 people losing their jobs good news.

Edit: should have guessed you were a fanboy

Mu5afir4058d ago (Edited 4058d ago )

Did you read the article? They only have around 250+ employees left, they sold most of their other magazines. They once had 1,200 employees but they restructured the company, and now only have 250+. But it still sucks they might go bankrupt.. but if they have any skills I am sure they can get another job.

VirusE4057d ago

Its not that they are biased to the 360 it’s that you are biased to the ps3 and cant handle a game getting a bad rating. Egm is one of the oldest mags in the business. I grew up reading and remember buying the 2nd or 3rd issue and the 2nd contra for the nes on the same day; needless to say it was a good day. They have given out tons of good scores to ps2 games. It isn’t the fault of egm that no AAA titles have yet to come out on the ps3.

Egm going under is not a good thing. Why would you be happy about people loosing their jobs? You disagreeing with a review is worth peoples lives being f-ed up? Some of you people need to grow up.

ALIEN4058d ago (Edited 4058d ago )

Gameinformer. ain't it?