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UGO in high-level talks to buy 1UP; EGM not part of deal

Joystiq Writes: Multiple sources in and around Ziff Davis Media have told Joystiq that UGO Entertainment is on the verge of finalizing a deal to buy parts of Ziff's 1UP Network, including 1up.com, GameVideos.com and MyCheats.com.

The sources, who asked to remain anonymous due to the sensitivity of the talks, confirmed to Joystiq that the companies were in "very advanced talks" regarding the sale of many of Ziff's popular gaming web sites. 1UP Network editorial staff were reportedly informed of the potential sale in an all-hands meeting Tuesday and UGO executives will reportedly be flying out to meet with the Ziff staff as soon as Wednesday. Few details of the potential buyout plan are known at this time, but UGO reportedly plans to keep the Ziff sites operating independently as separate entities with their own branding, rather than subsuming them fully into the UGO Entertainment Network.

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