Computer & Video Games will not be shut down by Future Publishing, but will suffer a round of layoffs, according to this MCV report. Earlier this year Future had revealed plans to shut down the publication and focus on GamesRadar. Instead, the company will cut two of the five full time staff members working for CVG, with a review of the site occurring again in December of this year.
Last month Future announced it was considering closing CVG, Edge-Online, and a number of other publications. The fate of Edge-Online is still undetermined as of this writing.
MCV also claims that the reason Future may have decided to keep CVG running is because several companies made inquiries about acquiring the web site from them.
We will have more on this story as it develops.