The last members of the original Winamp team have said goodbye to AOL and the door has all but shut on the Nullsoft era, BetaNews has learned. Only a few employees remain to prop up the once-ubiquitous digital audio player with minor updates, but no further improvements to Winamp are expected. Winamp's abandonment comes as no surprise to those close to the company who say the software has been on life support since the resignation of Nullsoft founder and Winamp creator Justin Frankel last January. Read more at BetaNews.
Yeh it is a shame, however I suspect any sane software company would be quite happily be interested in investing or purchasing the rights to it.. I reckon it will be brought, I hope that NullSoft has enough sense to sell it, if they are not going to continue it.
It's a division of AOL so chances are they'll just let it die. Since they already have their own music service it doen't benefit them to try to relaunch it as a music service so I can't see AOL doing much to revive it.