Time Warner revealed in its quarterly earnings statement today that GameTap owner Turner has decided to sell off the subscription model gaming service. That release noted an "$US 18 million noncash impairment" — read: write-off — as a result of the decision to lose GameTap. It did not name a buyer.
GameTap closed down its editorial division earlier this year to "focus the business on our biggest strength, which is our game catalogue" The service also recently dropped Myst Online from its line-up, lobbing control back to its creators.
It most recently launched American McGee's Grimm.
Time Warner Inc. Reports Second-Quarter 2008 Results [BusinessWire via Gamasutra]