As part of the deal, GameFly has purchased all related Shacknews destinations, including FileShack. The company plans to maintain the Shacknews editorial staff and direction, and pledged to bolster the site with additional resources.
"GameFly has demonstrated a true understanding of and commitment to Shacknews' gaming culture," said Shacknews founder Steve Gibson, who added that the decision to sell the company was not based on financial problems.
"We are confident GameFly will protect the legacy and community we've established, while at the same time providing much needed resources to expand into new and exciting areas that would not otherwise be possible."
Shacknews was founded in 1995, and has since grown to become one of the largest homes for video game enthusiasts on the internet. Shacknews has more than doubled its readership year over year, while launching a new multimedia site Shackvideo.
"We purchased Shacknews because it's a great site," said GameFly co-founder Sean Spector. "We believe we can help expand its reach--we're not looking to twist and turn the site into something else."
"With its avid, engaged community and commitment to providing an independent voice for gamers seeking the most accurate and up-to-date news and information, it goes to the core of our vision as a company, which is to be the ultimate resource for the entire gaming community," added GameFly CEO David Hodess.