Brace yourself: Ziff Davis is $390 million in debt
Publisher Ziff Davis has been in trouble for a while, and now we know how bad. The publisher skipped an interest payment and is entering into negotiations regarding its $390 million debt. Ziff Davis says they are still operationally "in very good shape," but they still have debt left over from when the company "was a very different scale." The company used to employ 1,200 people, it is now down to 290 and among its many websites (including 1UP), it only has three magazines left: PC Magazine, EGM and Games for Windows. During the attempted sales of its games division it became clear buyers wanted 1UP, but had no interest in the declining magazines.
Death in the video game magazine business seems inevitable, unless you're bundled with a mega gaming retail chain's discount card. Although this shouldn't be taken as a sign that EGM and your other Ziff publication's are finished. There's obviously a reason these magazines have survived while the others died off.
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Death in the video game magazine business seems inevitable, unless you're bundled with a mega gaming retail chain's discount card. Although this shouldn't be taken as a sign that EGM and your other Ziff publication's are finished. There's obviously a reason these magazines have survived while the others died off.
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(Page 1) Reader Comments
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Let's hope they find a buyer or right the ship before it's all over for good.
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Step 2: Set browser homepage to http://www.joystiq.com
Step 3: ???
Step 4: PROFIT!
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I do hope they get themselves out of this mess.
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But seriously folks, ZD Games is too attractive an asset for someone to NOT take a flyer on buying it on the cheap. I expect 1Up et al to survive; I wouldn't be surprised at all if MTV/Viacom takes a look; after all, they just said they're willing to spend an assload of money.
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But damn, I used to the count days before the next EGM.
Oh well, Mags are on the way out in a big way.
BTW, check out my overhaul.
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Yay for free stuff!
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but on the other... I want them to save Wizard Magazine.
I'm conflicted. :(
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I myself enjoy reading a gaming magazines because I don't really care to read bias gaming blogs. Their stories are just rip offs of other people's investigative hard work. I also am not always on the internet. I deny paying $10 for browsing on my phone when I already pay money for calling and data and handheld browsers sucks ass. I don't care what anyone says. Plus, over the years I've really come to love the guys at EGM, GFW, and 1Up. I can't wait for Fridays and Mondays when I can get their podcasts. 1up Yours, 1up Show, and EGM Live.
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As for the content of EGM, it's quickly grown into one of my alltime favorites. I like the wit and humor, and I feel that they have some of the best writers out there. Their reviews may be a bit lacking, but the rest of the mag holds its own rather well. It's a good read.
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But damn, I used to the count days before the next EGM."
COSIGN!... I started collecting EGM back with the Street Fighter for the SNES issue! -Remember Sushi-X?? Wonder who he really was??
Anyways, once I started noticing them being Biased to companies/games, I ended my subscription. I think alot of money exchanged hands between the reviewers of EGM and major companies..
Remember how you would look for a certain game review, knowing that the game was out, but wouldn't see the crappy review until 1-2 issues later! (NBA LIVE 07 was one of them..)
Dan "Shoe" Hsu used to always talk about in his editorials about how EGM is unbiased.. He must've been the most paid-off Reviewer in EGM!
Good riddance to bad rubbish. -I'll miss Electronic Gaming Monthly, Not EGM.
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I don't know about PC Magazine or Games for Windows, but in the case of EGM that reason couldn't have possibly been quality of writing. That mag (just like GameInformer) is the video game equivalent of Maxim or FHM: written by junior high boys for junior high boys, while pretending to be by and for, *ahem*, "mature" adults.
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