After revealing 50 Cent: Blood in the Sand (Xbox 360, PS3) for its May issue, Electronic Gaming Monthly magazine's upcoming June issue is revealing the next-gen resurrection of Splatterhouse. Splatterhouse and its sequels are considered to be the arcade games which paved the way for survival-horror titles. Head over the full article to see what else is there for the June EGM issue.

Sometimes, you just feel the need to move on. That's what Dan Hsu of 1UP feels, as he has recently announced his official resignation from the company. The former editor-in-chief of EGM also mentioned a who would take over after he left. More about that after the jump.

Interested in the whole Ziff Davis Media bankruptcy hub-bub that's been going around lately? Then here is 1UP Editor Simon Cox to clear up the entire matter for us, and how we shouldn't really worry about today's more popular videogame magazines. Bankruptcy is a scary word, yes, but for 1UP, it's anything but. Check out the full article for more info.

In a rather shocking development, Ziff Davis Media appeared before the court  today and filed for bankruptcy due to overwhelming debt that could reach up to US$ 1 billion. The company is responsible for entities EGM and 1UP.com among others. Know the full details after the jump!

If you find yourself bored at the moment, this update might perk you up as we bring you not just one, but two rumors today from EGM. It seems that the development of Dead Rising 2 is already underway. Everyday Shooter might just be ported over to the PSP. More information on these two after the jump!

If your head is still spinning with the number of sequels to Activision's Guitar Hero III: Legends of Rock (PC, Xbox 360, PS2, PS3, Wii), don't look now because a new challenger has arrived. This time, British rock band U2 will supposedly take center stage from a mysterious comment posted on the Rumor Mill of EGM magazine.

You can find out more about it in the full article!

Ubisoft, Sony's sports game division, and Midway's Mortal Kombat development team were all named by Electronic Gaming Monthly's Editor-in-Chief Dan Hsu as companies that banned the gaming magazine from covering their products after receiving negative reviews. More details await at the full article.

If the leaked Street Fighter 4 info was not enough for you, then you may want to check this out.

EGM managed to snag an exclusive coverage on SF4, which are now currently being devoured by hungry readers in the publication's January 2008 issue. Check out the rumors that are finally confirmed in the full article!

We just got word that former gaming magazine editor John Davison has just opened up a new gaming website for parents. This particular website reportedly aims to be the "video games guide for parents" and was established due to the alleged proliferation of violent titles.

John Davison is not at all a stranger to the video game industry. He used to be the editor of magazines EGM as well as the Official PlayStation Magazine for U.S. Check the full story by clicking the "read more" link below.

The latest in EGM's rumor mill is hot on God of War 3, Gears of War 2, and the revival (from god knows where) of Sega's classic RPG Skies of Arcadia. Mentioned games are supposed to be in development, and will see the light of day by next year.

Given the huge success of God of War, it's not exactly surprising if there's another title in the works. According to rumors, Sony Computer Entertainment America (SCEA) Santa Monica is already working on the next bloody action game for the Sony PlayStation 3, and it's scheduled for release next holiday season.

Another almost inevitable game is believed to be in development by Epic Games. When you look at how Microsoft Xbox 360 owners embraced Gears of War, missing out on easy bucks by not making a sequel doesn't sound too smart. This too, is hoping to be on shelves late next year.

What really sent our eyebrows into orbit is the mention of a sequel for Skies of Arcadia. It has been years since the original was released, and Vyse's pirate adventures on the GameCube was nothing more than a port. If there'll really be Skies of Arcadia 2 for whatever next-gen console, one of the items on this blogger's Sega wishlist would be met.

Previous rumors from the mill have turned out to be true, like Capcom revealing Street Fighter IV and Bionic Commando's remake, Square Enix dishing out Dragon Quest IV remake on the DS, and even Samus not talking in Metroid Prime: Corruption if that counts. Rumors are rumors, but if something like Street Fighter came back from the grave, we're hoping Skies of Arcadia would.