Nutshell version (as best I understand it) is that they got sued by the copyright holders of the Doc Savage stories (apparently BM disputed whether the material was still under copyright, if I understood things correctly) and ended up ordered shut down until they could
prove that they wouldn't ever distribute the material again (which is, of course, impossible, but that didn't seem to matter to the judge), and is no more. A lot of the material (sans Doc Savage, most obviously) is available at Silk Pagoda.
Someone please correct/elaborate anywhere I'm off.
