Why is Six Apart buying LiveJournal? Lots of reasons:Link to announcement. (thanks marginalia and Perian)
* Our companies are more alike than different.
* We both use Perl.
* Together we form super robot that's stronger than the sum of its parts.
* Super robots can fight super companies.
* They respect us, we respect them.
* We have a number of features they don't.
* We have experience with making "inward-facing" community sites, whereas their sites/products tend to be "outward-facing". They want some of that inward-facing action.
* Because we're awesome.
What does this mean for LiveJournal? Nothing earth-shattering. LiveJournal development and support will continue, and will probably even accelerate, as we grow the team. We'll continue to work on speed, reliability, and new features. LiveJournal won't become paid-user-only or anything crazy like that. We're not going to raise prices. We're not going to cancel permanent accounts, etc, etc. And we're not going to spam or sell your information. You own your journals, not us. Really you shouldn't see any negative changes. The most immediate changes will be that we'll start to get prettier... more styles, themes, etc. Six Apart is really good at that and we're not.
Update: And Six Apart announces their side of the story here: Link.