I've just read a thread in the LJ news thing (that's the technical term, ha ha) and it would seem they're just restructuring and moving most of their stuff to their Moscow offices, but keeping the servers and some US staff. Let's hope that's true, because I don't want my LJ to disappear!
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I don't think there's any danger yet. I will probably back up my LJ over the next week or so, but I'm not going to panic.