The prime example Folio uses is a scuffle between Edelman (a major PR firm) and an editor of PC Magazine. The battle concerned Senior VP at Edelman, Steve Rubell, publicly stating that he throws out his free subscription to the magazine. For any gaming media, when the PR guys stop reading your stuff, you can kiss access, interviews, information and general livelihood goodbye. And, in what really is the cherry on this story, the whole thing played out online.
According to the article, buyers of the ZD game division are actually interested in 1UP, the company's online portal and its 13 million monthly visitors. 1UP currently competes against Gamespot and IGN's 20 million monthly visitors. The path sounds pretty solid at this point. The magazines will continue to lose readers and relevance and, if the staff survives, will probably be transferred to online.