Whether you’re a fan of IGN or not, their business just got bigger.

From the press release:

    News Corporation’s IGN Entertainment today announced the acquisition of Hearst Corporation’s UGO Entertainment, an agreement that will create a clear leader in video games media. IGN Entertainment will now operate its existing properties along with UGO.com, 1UP.com and UGO’s entire network of owned and affiliated properties. Together, the properties will reach a global audience of more than 70 million monthly visitors.

    Under the terms of the agreement, Hearst Corporation will become a shareholder of IGN and will be an active participant in the development of the business.

    “This instantly catapults us to another level and positions us to serve and entertain tens of millions more fans. We look forward to providing an even richer service for users and advertisers. We are now actively considering a range of options to maximize IGN’s long-term value,” said Roy Bahat, President, IGN Entertainment.

    “The combination of IGN and UGO will create the complete ‘go to’ online destination for video game enthusiasts. The breadth, depth and quality of the content available through these sites will be unparalleled. This is a terrific combination for our viewers and our advertisers,” said Ken Bronfin, President of Hearst Interactive Media.

    IGN reaches nearly 40 million monthly visitors worldwide. UGO Entertainment properties – which include well-known gaming and entertainment sites 1UP.com and UGO.com – will add more than 30 million unique users to that total. They join IGN’s premium media sites, including gaming-related sites IGN.com, GameSpy, FilePlanet, Direct2Drive and TeamXbox; men’s lifestyle site AskMen; and IGN’s retail partner, GameStop.com. With this move, IGN broadens its spectrum of men’s entertainment content, allowing it to reach the highest concentration of men 18-34 online. Every month, IGN will reach one in four men online.

    The addition of UGO’s properties expands IGN’s media lineup and suite of product offerings – online and on mobile devices – to its core audience of young males and the advertisers looking to reach them. Already ranking #1 in video for all video game sites, this move allows IGN even more opportunities for video distribution.