the Newser reported the Second Norway estate sims were in trouble. Not long after, Patch Linden informed that Linden Lab was in talks with it's owner, Ey Ren, whom also owned much of the Sailor's Cove area, about the future of the areas. Ey would also start posting updates on the situation in his Bald Elf Blog. Patrick Leavitt would come forward to take ownership of the majority of Ey's Sailors Cove East sims. But 17 could not be saved and were slated to fade away.
Ey would transfer ownership of the estate to her. Inara Pey would describe Vanity as having a history of being "able to take over a number of smaller SL estates that have got into difficulties over the years and then turning them around." Ey will remain as the manager of the "Second Norway Lufthavn" group. And "the legacy content on the present Second Norway region (Bryggen, the stave church, etc) will remain." But Ey would tell his readers to expect a number of changes in the landscape of the sims.
I hope that before long Mialinn, SlaYeR and me can invite people to fun nights in the SN club with DJs, quizes and general jibberish talk, just like in the old days.
While a few of the sims have gone away, most will remain. While the final word has yet to be written on the situation, it looks like it will be overall a happy ending.
Sources: Bald Elf Blog, Modem World