Stop the panic!! Just saw on Scott Fortunado's blog last night that Jaftex Fabrics (Henry Glass, Studio E, etc) has purchased FreeSpirit and the plan is to keep all the designers too! Jaftex is a family owned company (4th generation with Scott and his brother) and has a number of lines of quilting fabrics in addition to some other types of fabrics too.
SO glad that these designers will likely transition as a total group to a new parent company so there are no "breaks" in their product availabilty.