According to a report by Joystiq, UGO Entertainment is in talks to purchase the majority of Ziff Davis Media's 1UP Network, including 1UP.com, GameVideos.com and MyCheats.com.

The talks are said to be "very advanced," with the 1UP editorial staff reportedly being informed of the sale on Tuesday.

The story, sourced from anonymous tipsters within Ziff Davis, notes that UGO will not likely re-brand the purchased sites under the UGO Entertainment label.

The news does not bode well for the print arm of 1UP, Electronic Gaming Monthly, which UGO is apparently not interested in buying. The New York Times reported last month that Ziff Davis CEO Jason Young was considering closing EGM due to declining profit margins.

Download provider Filefront.com was also singled out as one branch that UGO is uninterested in picking up with the deal.