Jim Winstead just announced blo.gs has been sold to an undisclosed buyer and the site will change hands on or after June 13. The new owner will “continue providing the same features that exist now, and will be working on making blo.gs even better.”
Blo.gs is a pretty large ping beacon, second only to weblogs.com in its level of integration into all the different weblog tools available. My guess is a company wanting to move into the space purchased blo.gs for its ping beacon and its database of posts. There is a small chance the acquirer cares about the site’s 12,000 users and PHP code but I doubt it. I expect a lot of users will be canceling their accounts and taking their blogrolls elsewhere in the next month.