UPDATE: Unfortunately the rumors were true, Joystiq is officially shutting down. It’s really sad to see such a video game coverage staple fall like this. Joystiq has always been around it seems, reporting video games, and setting a standard for the rest of the industry. Hopefully all those talented people find a new home soon and what comes out of this is bigger and brighter.

Rumors are swirling around that long running video game blog site Joystiq may be in its last days. AOL, Joystiq’s parent company, has talked about downsizing and restructuring itself for awhile now, but until today those statements didn’t seem to apply to Joystiq. AOL itself seems tight-lipped  about the possible closure, but many of Joystiq’s employees seem to already know about their possible impending doom. It is true that Joystiq has seen less traffic over the past year (Down 18% according to Techcrunch), but to shutter the entire site and let go of its few dozen employees still seems like an overreaction.

Joystiq themselves have responded to the rumors with their own story. It’s nice to see them put on a brave face, and we can only hope these rumors are just that.

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