Next year will be EGM's 20th year in print, should it last until summer of 2009 for its two decade anniversary. Young tells the New York Times that Ziff Davis is "considering" moving EGM to an online-only format on 1UP.com, but would not make the decision before end of year.

Young blamed rising costs associated with print and decreased advertising as reasons for the closing of PC Magazine.

Ziff Davis filed for bankruptcy earlier this year and is working on eliminating its debt. The publisher has shut down a number of print pubs over the past few years, including the Official PlayStation Magazine, GMR and most recently Games For Windows: The Magazine.

PC Magazine, a Flagship for Ziff Davis, Will Cease Printing a Paper Version [New York Times via Gamasutra]

The poor economic conditions have created a very different and difficult dynamic for us this year, and we weren't confident that we could present a show experience that was consistent with the successes of prior years.

He goes on to say they're optimistic the show can return in 2009, but we're not doing anything drastic like holding our breath.

Bad economy kills this year's DigitalLife Expo [Cnet]

“The Court’s confirmation of our Plan is a major milestone for Ziff Davis as we look to emerge from Chapter 11 restructuring,” said Jason Young, Chief Executive Officer of Ziff Davis Media. “We are very proud of the progress we have made during our short time in Chapter 11 to become a healthier company. We remain grateful for the unwavering support of our customers, vendors and employees throughout this process and we look forward to continuing our work with all of our stakeholders after our emergence. After concluding our restructuring, we will be better positioned, with the financial strength to grow and capitalize on our strengths.”

The plan, in a nutshell, splits the $428 million in debt between new stock and a $57.5 million debt.

I'm happy to see that both 1Up and EGM survived the turmoil. Let's hope that they both recover as stronger entities than when ZD first filed.

Court Confirms Ziff Davis Media’s Plan Of Reorganization

Company Expects to Emerge From Chapter 11 on July 1, 2008

NEW YORK—(BUSINESS WIRE)—Ziff Davis Media Inc. (“Ziff Davis” or the “Company”), an indirect wholly-owned subsidiary of Ziff Davis Holdings Inc., today announced that the U.S. Bankruptcy Court for the Southern District of New York (the "Court") confirmed Ziff Davis’s “Second Amended Joint Chapter 11 Plan Of Reorganization,” dated May 6, 2008 (the “Plan”). Ziff Davis currently expects to emerge from Chapter 11 on July 1, 2008.

“The Court’s confirmation of our Plan is a major milestone for Ziff Davis as we look to emerge from Chapter 11 restructuring,” said Jason Young, Chief Executive Officer of Ziff Davis Media. “We are very proud of the progress we have made during our short time in Chapter 11 to become a healthier company. We remain grateful for the unwavering support of our customers, vendors and employees throughout this process and we look forward to continuing our work with all of our stakeholders after our emergence. After concluding our restructuring, we will be better positioned, with the financial strength to grow and capitalize on our strengths.”

As previously announced, the Plan substantially de-leverages Ziff Davis’s balance sheet by converting over $428 million in funded indebtedness to (a) new common stock of reorganized Ziff Davis Media and (b) a new note of $57.5 million. The acceptance of the Plan by voting creditors was overwhelming. The Plan provides Ziff Davis with sufficient cash to fund its exit from Chapter 11 as well as its ongoing business plan. This funding will enable the Company to finance its Chapter 11 exit obligations as well as ongoing operations for the foreseeable future.

More information about Ziff Davis's reorganization, including the Plan and Disclosure Statement, are available at www.bmcgroup.com.

"Once we re-emerge from the other side of this, fully intact (as we assuredly will be), we will have reduced that debt significantly, and the payments that go with it," Simon says. "Our earnings will once again be our own, and we will have spare cash to invest in building bigger, better, faster, stronger and better-looking websites and magazines."

As soon as ZD gets that debt monkey of its back, the 1UP network and its print brethren are due for some internal investment, which is super duper positive.

So, chin up, subscribers and podcast listeners. It's not the end of EGM as we know it.

That Chapter 11 thing... [1UP]

The company has tried to negotiate its substantial debt out of the courts before, following a missed interest payment last summer. Over the past four years, the company had shuttered some of its publications, including the Official PlayStation Magazine and GMR, but continues to publish print properties like eWeek and PC Magazine as well as nearly twenty technology and entertainment web sites.

While we don't know much about the financial health of its video gaming properties, we have heard that the 1UP Yours podcast will be scaled back to a lean three hours in an effort to cut costs. A temporary setback, we hope.

Ziff Davis Media Files for Bankruptcy to Cut Debt [Bloomberg]

"The content you posted in the site blogeek is property of Ziff Davis, given from Capcom only to Ziff Davis and EGM issues, with embargo for the publications. Your publication of this subject is theft of intellectual property and should have immediate legal consequences. Ziff Davis and Futuro want you to cut off the content form your site immediately."

Pereia informed me that a follow up email informed him that Ziff Davis and Capcom lawyers were working to see what they could do to him, and that sales of the Street Fighter IV issue of EGM would suffer from the leak and he was responsible. Pressure is being put on Pereia to reveal his source as well, though Douglas refuses to do so.

He has, however, removed the post from Blogeek and taken the site down, posting a message on the front page apologizing for the leaked information.

IT WAS NOT OUR INTENTION TO MESS WITH ANYONE. LIKE EVERY NEWS SITE AND BLOG, WE JUST WANTED TO PASS INFORMATION AS SOON AS POSSIBLE FOR THOSE WHO HAVE INTEREST FOR ANY SUBJECT.

JUST TO CLARIFY, WE DIDN'T HAVE ANY NDA, AND FAR LESS WE WOULD HACK ANYTHING FROM ZIFF DAVIS. A SOURCE CAME TO US AND PASSED SOME INFOS AND THE TWO PICTURES, AND WE PUBLISHED THEM.

ALTHOUGH WE STILL DON'T THINK WE SHOULD, WE REALLY WANT TO APOLOGIZE TO ANYONE WHO GOT HURT WITH THE INCIDENT.

ZIFF DAVIS WAS THREATENING US, AND WE ARE REALLY AFRAID, OF COURSE.

Why pick on Douglas Pereia and Blogeek? Because they know they can. A small site without a very large fan base is much easier to fool with threats than a large website with untold numbers of regular readers. The main gist of this is they want to know his source, and they're trying to strong-arm him into giving it. Just sad.

As of this writing, Kotaku has received no similar threats, despite the pictures and information being available for all to view, right here.

UPDATE: Please see this post for comment from Ziff-Davis via EGM editor in chief Dan Hsu.

With decreasing revenues and circulation rates—PC Gamer is down some 90,000 copies over the past four years—the only way to survive is to adapt. Conscious focus on more in-depth content in magazines and pushing the symbiotic relationship of online and offline media might just keep EGM and other Ziff Davis properties from death's door.

As a longtime fan of print publications, I still subscribe to EGM. I've also recently signed on for the Official Xbox Magazine, Games For Windows and the Official PlayStation Magazine. Despite the flood of online content, there are still worthwhile publications worth reading on a monthly basis, even if the news content they provide is often outdated.

Anyone else out there with a healthy daily intake of print and electronic video game news?

Game News in a Duel of Print and Online [New York Times]

Ziff Davis announced today that the long running Official PlayStation Magazine (aka OPM) will see its last issue hit in January of 2007.

Why end it now, when the PlayStation 3 is on the cusp of launch and over 100 million PlayStation 2's and... um... some PSP's are in gamer's hands? Why, the PlayStation 3, of course. And that new fangled internet.

Let's face it, we certainly weren't buying OPM for the articles. It was for the demos. With the PlayStation 3 featuring an integrated networking platform with an embedded digital distribution center (the Store, natch) to offer up PS3 and PSP downloadables, that pesky printed material just seems like dead weight.

And, with the rise of 1UP and the huge investment in GameVideos.com, what do we need an antiquated paper magazine for? That's right. Nothin'.

Press release fetishists, make the jump for your jollies. Michael McWhertor

Ziff Davis Game Group to Discontinue Publication of Official U.S. PlayStation Magazine

SAN FRANCISCO, Nov. 14 — Ziff Davis Game Group, the leading integrated media company focused on the video game sector, today announced that it will discontinue publication of Official U.S. PlayStation Magazine after the January 2007 issue. The Game Group is laser-focused on continuing to expand its rapidly growing digital media presence and on further strengthening its multiplatform properties and powerful integrated network. As such, the Game Group has determined that Official U.S. PlayStation Magazine, a property licensed from Sony Computer Entertainment America and limited to print, no longer fits its strategic vision.

"Ziff Davis has had a great run with Official U.S. PlayStation Magazine for the past nine years," said Scott McCarthy, President of Ziff Davis Game Group. "We are very proud of the magazine and its outstanding editorial team, and we're obviously sad to see it go. Unfortunately, given where we are taking the Game Group, it doesn't easily fit into our integrated media network or afford us digital media opportunities."

Mr. McCarthy continued, "In addition, it's a new world. The powerful online capabilities of the exciting PlayStation 3, coupled with ever- increasing broadband penetration in the U.S., allow for much more efficient distribution of game demos, videos, and trailers. With this next generation of game consoles, the days of having to bundle a disc with a magazine to distribute games-related content are over. And the disc has clearly been a major driver for consumer interest in premium-priced, platform-specific magazines in the past, when the magazine disc was the only way gamers could get such content."

Sony Computer Entertainment America will remain a key content and marketing partner for Ziff Davis Game Group, which will cover SCEA's PlayStation 3 and first-party games extensively across all of its media outlets, including EGM, 1UP.com, and GameVideos.com. The Game Group editorial team will also work closely with SCEA in the development of digital content for the PlayStation Network, accessible only through the PS3.

"We are as excited about the PlayStation 3 as the rest of the world, and gamers will be sure to see us reporting extensively on the platform — and on the PlayStation 2 and PlayStation Portable — across our various media assets," said John Davison, Senior Vice President and Editorial Director of Ziff Davis Game Group. "We enjoy working with SCEA and look forward to continuing our relationship for many years to come."

Ziff Davis Game Group's digital media presence has expanded greatly over the past year. The reach of the 1UP Network in the third quarter of 2006 was nearly six times larger than in the same quarter in 2005, and the Game Group has launched several new online properties including GameVideos.com, MyCheats.com, the 1UP Show video podcast, and the ESPN.com Video Games Channel in partnership with ESPN.

The Game Group is also aggressively integrating its print and online media properties wherever possible. For example, its flagship multiplatform magazine EGM, the leader among videogame magazines, is now closely aligned with 1UP.com in terms of visual design, content, and its games rating system.

We called it.

GameLife, the sophomoric and oddly addictive homespun video gaming show, is in talks with Viacom about producing content for MTV.

The three guys and one gal produced three shows before they caught the attention of a bunch of gaming sites. Ziff Davis Media was the first to try and snatch up the foursome, arranging a deal to have the group create an E3 Special from the show room floor in exchange for access to the expo. (Our very own Luke did the legwork behind the Ziff deal.)

Viacom bit next, opening talks with the shows producers about "creating segments to be run exclusively on its MTV properties." While I'd like to think that means MTV the television channel, I suspect they will likely be starting out nestled on the channel's gaming webpage.

"I feel like everything is about to explode," says the show's 19-year-old creator and host Andrew Rosenblum. "A few months ago we're hanging out making a show at home, now we're filming at the E3 expo and talking with MTV about doing reviews for them."

Is it your head Andrew, or your pants?

Ziff Davis Sponsors E3 Episode, Viacom in Talks with Show Creators [PR Web]