Report: CVG Scheduled to Close Down

All employees "at Future UK have been put on a 45-day consultation period."

The former magazine and current website, Computer & Video Games aka CVG, is going to be shut down. This is according to a report by MCV, which states that every member of Future UK has been put on a 45-day consultation. CVG is owned by Future plc, which operates an array of websites.

From MCV, "In an email to staff Future boss Zillah Byng-Maddick said that Future's business model was not 'working hard enough' and admitted 'we need to change and fast.'"

"The news follows a string of poor financial results, including a profit warning in March which caused the firm's share price to plummet."

"Future boasts almost 900 staff and its games publications includes CVG, Edge, Gamesmaster, Gamesradar, Official Xbox, Official PlayStation and Official Nintendo. It also runs the Golden Joystick Awards and operates the UK arm of Kotaku."

Source: MCV