Hearst Buys UGO for Estimated $150 Million

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Hearst Corporation announced today that it will acquire UGO Networks, Inc., a leading online entertainment company, for an estimated $150 million. For Hearst, this will be the win of one of the most popular men’s lifestyle brands on the web.

With over 28 million uniques worldwide, UGO is one of the few sites that survived the dotcom crash — recently celebrating its 10th year online. That’s 10 years of publishing their angle on every game system, movie, music artist, and all thats new in the world of comics.

Those of us in our twenties were in high school playing the Nintendo 64. Hardly Web 2.0, but a very solid Web 1.0 that has proven itself a big enough powerhouse that the Hearst Corporation (owners of Popular Mechanics, Sling, among others) decided they needed their expertise.

Other terms of the acquisition were not disclosed. Read the official press release here.