A New Foundation and LayoffsMozilla Foundation:
The Mozilla Foundation is a new non-profit organization that will serve as the home for mozilla.org. As before, mozilla.org will coordinate and encourage the development and testing of Mozilla code. The Mozilla Foundation will also promote the distribution and adoption of our flagship applications based on that code. AOL, IBM, Sun Microsystems, Red Hat, and other companies will continue to support Mozilla through the Foundation.
According to the press release, AOL has pledged $2 million to the new foundation.
MozillaZine: AOL Cuts Remaining Mozilla Hackers
It has been learned through public and private sources that AOL has cut or will cut the remaining team working on Mozilla in a mass firing and are dismantling what was left of Netscape (they've even pulled the logos off the buildings). Some will remain working on Mozilla during the transition, and will move to other jobs within AOL.
To summarize: Mozilla is not dead. Netscape is. Mozilla becomes a non-profit organization, AOL and other companies still contribute.
Does it have a hole..? Cause' if it does I will.
Look out! It's "The Attack of The Mutant Braindead Trolls" (!)