Anime News Network has reported that TokyoPop’s manga licenses will revert to their owners when the publisher shuts down at the end of May. There is no word on the status of TokyoPop original English language (OEL) works.
This is rather disappointing. I had held out some hope up until now that perhaps TokyoPop could continue its current licensed series in eBook form, at least until license expiration. But it is very likely that the licenses were specific to printed distribution. Digital distribution usually requires negotiating a new license if not part of the original.
It’s a near certainty that at least some of the most popular titles will be licensed by some other publishers. Still, anyone following any current TokyoPop series is in for some anguished waiting while things get sorted out.