Pretty awful news, to say the least. 1up was never one of my favorite big sites, but it was a good one, and EGM... it's yet another good, long-time publication dying, like CGW/Games for Windows last year. It's really, really sad, watching what has been happening to the publishing market... but if even EGM can't make it, things are obviously very, very bad. :(
http://www.neogaf.com/forum/showthread.php?t=347957
EGM hasn't been any good for at least ten years.
I dunno about you guys, but I stopped reading the paper mags for the most part. When I pick them up today, they all seem damn near identical to me now. I used to read NP and GamePro and EGM and VG and all the good mags back in the day, and they each had their own distinct personality and appearance (i.e., GamePro's reviewers having cartoon aliases). It seems like all that personality has been vacuumed away, leaving behind magazines that are practically interchangeable.
LOL magazines
1up was dick, you dont even know.
The paper magazines either had news I already read online weeks in advance, or in the rare case of an "exclusive story", I'd see it online in the form of a magazine scan the day the issue comes out. I need no magazine.
I haven't read anything off of 1up.com in over a year. Their reviews are nearly useless. Good riddance to bad rubbish.