After rumors were swirling for over a week, IGN Entertainment today announced that they have acquired UGO Entertainment, which includes UGO.com and more importantly 1UP.com; one of IGN’s biggest competitors in video game websites.
Under the terms of the agreement, Hearst Corporation will become a shareholder of IGN and an active participant in the development of the business.
“This instantly catapults us to another level and positions us to serve and entertain tens of millions more fans. We look forward to providing an even richer service for users and advertisers. We are now actively considering a range of options to maximize IGN’s long-term value,” said Roy Bahat, President, IGN Entertainment.
“The combination of IGN and UGO will create the complete ‘go to’ online destination for video game enthusiasts. The breadth, depth and quality of the content available through these sites will be unparalleled. This is a terrific combination for our viewers and our advertisers,” said Ken Bronfin, President of Hearst Interactive Media.
IGN reaches nearly 40 million monthly visitors worldwide. UGO Entertainment properties – which include well-known gaming and entertainment sites 1UP.com and UGO.com – will add more than 30 million unique users to that total. They join IGN’s premium media sites, including gaming-related sites IGN.com, GameSpy, FilePlanet, Direct2Drive and TeamXbox; men’s lifestyle site AskMen; and IGN’s retail partner, GameStop.com.