If you are on Xfire then you probably just gt this message:

System Broadcast:
Xfire was bought by new owners today. Most of the team that has built Xfire over the last six years is leaving. We enjoyed working for you for the last 127 releases and wish we could stay to create the next 127. Good bye, good luck, and game on. — The Xfire Team

And when you look on the site News you’ll be reading this:

Team Leaving

August 2, 2010–Xfire has been purchased by another company. Most of the team that has brought you Xfire for the last 6 years is leaving, including me. We’ve enjoyed our time and I personally am sad that I was only able to do 127 releases. Good bye and game on!

— Chris

Viacom sold xfire after owning them for 4 years but why would they do that.
So who bought Xfire? and now that the team is leaving will xfire still exist?
I sure hope we get some more information soon.

UPDATE: Xfire has updated news about the situation as you can read on the site.

Titan Gaming acquires Xfire.

August 2, 2010–Titan Gaming acquires Xfire.

Titan will be taking on the Xfire name, with a focus towards ongoing innovation in the gaming space. The Xfire services will continue uninterrupted for its users. Xfire redefined how gamers communicate, Titan intends to build upon this tradition and utilize the Xfire platform to help gaming companies better engage their users. We look forward to continuing and expanding upon the Xfire service.

— Raincrow

well lets see how all of this is going to turn out.