Gamasutra reports that Ziff Davis Media has sold a number of gaming websites, including 1Up.com, and will be shutting down their popular magazine, Electronic Gaming Monthly. Some of 1Up's staff was laid off as well, though the new owners want to keep the rest of it intact. The sale was motivated by an unprofitable business model made worse by the recent downturn in the economy. 1Up's James Mielke has made a post about the final hours of EGM, and a glimpse at the final issue, saying, "...the final, secret, unpublished issue of EGM will show up here on 1UP shortly in the near future. You will be able to read every hi-res page, ads and all (last time I checked at least) on 1UP, to see the beautiful job that crew did, even with the guillotine hanging over our heads every minute of the day."