Whilst each has its own different story, Shareaza and Bearshare were sold out. Quote: "(iMesh 8, Bearshare 7, Lphant 4, and ShareazaV5 are one product.)" Since Bearshare code was not open source we are stranded with the last decent versions of Bearshare 5. Later versions afaik do not even use the gnutella network. (There is at least one privately developed version of Bearshare called Bettershare that is arguably a continuation of the original program on Gnutella.) Likewise Shareaza splintered. Shareaza was open source coding so the coding is still developing for it for the Gnutella network. Whilst versions above Shareaza 4 are equivalent to Bearshare 6 & above, just different label.

Keep in mind LW was never fully developed on it's own, it was always and still is contributions by others. FrostWire was started in the event of LW being sold out. Likewise there are many other LW versions that float around (some for scam sites dare I say it.)

There are other gnutella programs around that are open source and still being developed. Phex is a good example, though due to work commitments by the main dev., I believe development has slowed in recent times.

I'm curious how the Gnutella network itself would develop in future if LW is sold out.