It's already sold off the database, market research, and enterprise group. All it's got left is PC Magazine, its game group (which recently restructured itself, merging print and online, to the mass confusion of all), ExtremeTech, and the DigitalLife conference. Young insists the company's making great progress. Why doesn't he just file for Chapter 7, the liquidation kind of bankruptcy? That seems easier.

The hemorrhaging is in part due to Ziff-Davis's heavy investment in videogame magazines. Three folded in the past two years — Xbox Nation, GMR, and The Official U.S. PlayStation Magazine — as readers moved online. So far it has been unable to sell off website 1UP.com and its two remaining videogame magazines.

Ziff-Davis has sought the aid of bankruptcy advisers Alvarez & Marsal, who a Folio source described as a last-ditch effort: "This is the first step in the public, ugly dismantling of one of the most storied companies in our business."

"Cheat maniac," formerly of Ziff Davis, now of IGN, is a notorious shtupper. Yes, he's married, and yes, he still diddled at least three separate salesladies at the Ziff Games Group. And yes, he was married at the time.

Send your guesses to tips@valleywag.com, or drop 'em in the comments.

Earlier: ConFonz at the Game Marketing Conference: gamers vs. little old ladies [Valleywag]

Remember, these are the same people that told you John Romero is going to make you his bitch.

The Game Marketing Conference took place behind Sega's San Francisco offices on Wednesday and Thursday. It's strange being here because a double digit percentage of the folks here have fired me (There's yer only clue!)

One highlight, however, was watching the faces on the various media sales people's faces when Doug Scott, EA's director of entertainment marketing, said that he felt 50% of EA"s marketing budget should be spent on non-traditional (read non-print/non-banner) marketing. The room chuckled a bit, then shifted uncomfortably, as the Ziff Davis and IGN people collectively shit themselves.

The highlights of the event were twofold: first, as soon as the 600 Townsend-hosted event was over at 5 PM, the little old lady's auxiliary showed up to host an art opening for the Norwegian design exhibit in the lobby. They carted in cases of 2-buck-chuck and hassled the conference attendees, demanding that they remove themselves from the premises immediately. Sean, VP of Kohnke Communications, was threatening to beat the living shit out of the old bags, but relented when it came time to head across the street to the Khonke-hosted I-Play party at the Mars Bar.

In Part II, ConFonz drops the party gossip.

Game Marketing Conference [The Game Initiative]