GameTap service will be "partnering" up with Europe's Metaboli to create an amalgamation of the two companies. The GameTap service will continue as usual in the US, but Metaboli will take "direct management" of the business and brand in early 2009. Turner will become an equity investor in the group going forward, meaning the company kind of got sold.
We've contacted GameTap to clarify several points, most of which the company doesn't seem to be prepared to answer at this time. There's no real clear answer what this all means to gamers both in the States and Europe, just that the two companies will apparently work out what they'll become over the next few months.
Update: We did hear back from a Turner representative that "contrary to what some are writing this is a true partnership with Turner majorly invested despite the fact that Metaboli will be taking over operations at some point in 2009."
[Via GameDaily; Thanks Matt]