SquirrelZero is right, if my phone was ringing off the hook based on news I wasn't privvy to, I'd be frigging running out butt nekid looking for the mofo pulling a cruel joke.
Then when reality - and common sense (whatever is left of it) - sinks in, you go figure out what the fuck is going on.
Like SquirrelZero, we've been around even before RE had teeth and the guys (Tim, Jeremy et al) are pretty cool guys.
Despite what the Epic press release says, existing licensees (like us), can still continue using the engine but not to expect any further updates I don't think.
Its kinda weird, but being a developer - and knowing how Epic are not notorious for screwing people - I'm quite certain that behind-the-scenes actions will sort this out for existing licensees.
Not to be facetious or anything, but IMO this buyout doesn't have fuck all to do with Tim Johnson's [unquestionable] talent. My take is that Epic just got scared and decided to buy out the *really* small guy, bring that talent+technology in house (as part of the deal) and [probably] not further saturate the mainstream middleware license arena (DOOM3, NetImmerse, GameBryo, Renderware, Virtools). Its easier to buy one rung on the ladder - especially given the price of RE when compared to those other engines - than it is the others higher up the ladder.
If Tim and Jeremy made out like bandits, good for them. Running a company while developing an engine (which is essentially what you're doing if your are licensing technologies) is not exactly a good match. So, if Tim wants to continue being a "developer" instead of a businessman, then this is the right way to go. Especially if the price is right; as I'm sure that it was because, knowing him, there is no way he would have done this without some substantial benefit.
This is only the beginning. EA bought Criterion and pretty much locked up GameByro and RenderWare. A bunch of others (e.g. Intrinsic) have gone under and the rest are struggling.
Game developers are just human beings who happen to make games for a living. If you want to hold us up to higher standards of conduct, then go ahead
...but don't be surprised if we don't uphold them