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No, it’s selling it. The sale itself isn’t what killed it.
Companies/IP/Products get sold to other entities all the time, many continue on. What you’re upset at is the aftermath of the sale, so until such an event happens here I don’t see any reason to be concerned.
And, from what I recall, selling was the best option. They over extended themselves with the pebble color and steel and we're going to go out of business anyway. I really miss my pebble though.