Report: IGN acquiring 1UP parent company UGO

Monday, 2 May 2011 03:28 GMT By Brenna Hillier

The beautiful snowflakes of games media just got a tiny bit less diverse. IGN has apparently snapped up UGO Networks, the parent company of 1UP, amid talk the former is set to split from its own parent, News Corp.

All Things Digital reports UGO owner Hearst has been in talks with News Corp over the weekend, and will announce a merger this week.

The acquisition is said to be part of a plan to give IGN enough weight to stand alone as a media company, outside of News Corp’s embrace.

The split will take months to finalise, but result in an all-new, independent company headed by current IGN chief, Roy Bahat.

IGN is said to be turning over $10 million this year on $100 million in revenue.

UGO Networks, which hosts a variety of websites, bought 1UP in early 2009. If IGN snaffles it, it will join other acquisitions of recent years including GameSpy and WhatTheyPlay.

Thanks, VentureBeat.