Well, if this is the truth, then you will be happy to know that it looks like Electronic Gaming Monthy is coming back, with the founder of the magazine buying up the rights to the gaming magazine.  Sometime in the latter half of 2009, a newly revamped EGM will be coming back, although, beyond that we don’t really know what it will be.

My first reaction to this was, “Yay, EGM is back!”, but then I really started thinking about it.  While I know that 1up was run about as well as the Federal government when it came to finances, I don’t think that EGM was going to help them out of any bind.  Why anyone would think it is a good idea to start up a specialty magazine in today’s economic climate seems like a no-win scenario.  Advertising rates are down, eyes on the page is down, and subscriptions to EGM were given away by the truckloads to get good distribution numbers.  Nostalgia is great, and it would be nice to see the mag come back, what kind of shape will it be in.  Most of the writers either moved on to other locations, like G4TV, Current.com, Gamespy.com or even to game publishers like 2K Games and Electronic Arts.  The rest stayed at a newly combined UGO/1up.com amalgam, so what talent is left to make this happen?

I hope the best for Steve Harris and his dream to restore the EGM magazine and brand to its former glory, but looking at the realities of today’s magazine climate, I have to think he is doomed for failure in the long run.

“ELECTRONIC GAMING MONTHLY” FOUNDER
EXECUTES CONTRACT TO ACQUIRE PRINT AND ONLINE
PUBLISHING RIGHTS TO EGM MAGAZINE

BEVERLY HILLS, CA, May 29, 2009 – Steve Harris, founder of “Electronic Gaming Monthly” magazine, announced today that he has entered into an agreement with Ziff Davis Media to re-acquire certain assets, including trademarks and publishing rights, with plans to re-launch EGM in the second half of 2009.

“The re-launch of Electronic Gaming Monthly represents a welcome opportunity to continue delivering quality content to gaming enthusiasts,” said Harris. “I feel honored to once again be associated with this respected magazine. The talented writers and designers who built upon EGM’s original vision have left behind a publication that is uniquely positioned to be successful.”

“Electronic Gaming Monthly is and always has been one of the most respected publications among the gaming enthusiast community,” said Jason Young, CEO, Ziff Davis Media Inc. “We are pleased that EGM is now in the hands of its original creator, Steve Harris, and wish him and the publication the best of success in the future.”

“We have exciting plans for the evolution of what will once again be a leading independent voice for the gaming community,” Harris continued. “The twenty year success of the EGM brand has always been built upon a commitment to its readers who I believe will enthusiastically embrace the changes we are planning to introduce.”

Additional details and future announcements will be made during the upcoming E3 expo and posted on the magazine’s official website at www.EGMNOW.com or via the official EGM Twitter account at www.twitter.com/EGMNOW .

ABOUT ELECTRONIC GAMING MONTHLY:

Electronic Gaming Monthly (aka EGM) was launched in 1988 by Steve Harris to provide independent news, reviews, and other content of interest to video game enthusiasts. The magazine enjoyed rapid success that continued after Harris sold the publication to Ziff Davis in 1996. It has remained an industry leader for more than twenty years and has enjoyed a strong and loyal readership base during that time.