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ZelnickMedia Increases Stake in UGO Networks

07.27.05

New York, NY, July 27: ZelnickMedia announced today that it has increased its investment and ownership in UGO Networks, the leading online media network for game and fantasy entertainment coverage. ZelnickMedia founder Strauss Zelnick has served as a UGO Director, investor and advisor to the company since 1999. “As advertisers seek targeted channels to reach the elusive young male demographic with meaningful scale, UGO's offering only becomes more valuable,” said ZelnickMedia's Jordan Turkewitz, who works closely with the company.

“We are delighted that ZelnickMedia has decided to boost its investment in UGO,” said CEO J Moses.” We value their strong endorsement and look forward to working together to continue to grow the business rapidly in the future.”

Reaching one in ten men on the Web with approximately 10 million monthly unique U.S. visitors, UGO is a significant force in the online entertainment category, ranking consistently among the Nielsen/NetRatings Top 10 Entertainment Properties on the Internet.

Terms of the transaction were not disclosed.