EGM shuts down, 1UP loses 40 staff

It all started with a tweet from John Davison, founder of What They Play, pointing to a news story in paidcontent.org. Pretty soon it was confirmed by other sources and 1up.com themselves, one of the longest running videogame magazines is now gone. January 2009 was their last issue, so if you happen to find a copy you might want to grab a piece of sad history.
To makes things worse, 1UP.com has been sold to Hearst (owners of UGO.com) and 40 staff are now out of a job. Among the people leaving are Ryan O'Donnell (1UP Show co-creator) and the outspoken Shane Bettenhausen. 1UP yours, 1UP FM, the show and the rest of the podcasts have been cancelled, silencing one of the most professional, hard working and passionate teams in the industry.
With much left to say, everybody wishes all the 1UP crew (those leaving and those staying) the best and let's hope you guys find new ways to confirm weekends.