UGO Entertainment Buys 1UP

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neo1.jpgADOTAS — UGO Entertainment, a unit of Hearst Corporation, is buying 1UP.com along with its associated sites GameVideos.com, MyCheats.com and GameTab.com.

Rumors of the deal were first reported at Joystiq. The New York based-UGO, and its owned and operated properties, have over 35 million monthly unique visitors  and focuses on the gamer lifestyle: games, movies, TV shows, music, comics, technology, gadgets, gear, girls and sports.

The deal between UGO, which was acquired for more than $100 million by Hearst Corp in 2007, and Ziff Davis Games Group will also result in layoffs.  Ziff-Davis has said it was shutting down gaming magazine Electronic Gaming Monthly.

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