According to Rivkah, the creator of OEL/World Manga Steady Beat as
published formerly published by Tokyopop, Tokyopop is going to cease publishing print editions of non-licensed work. From her Livejournal:
“Just got off the phone with my editor, and it looks like not-so-good news for Steady Beat. In fact, it looks like not-so-good news for anybody who’s working with TP right now. I’m not sure how much I should say for fear of causing an outright panic with other creators, but essentially, nearly all of Tokyopop’s future books will be going straight to web. This wasn’t a case-by-case scenario. Neither I nor any other single creators were singled out. It looks like the whole line of non-licensed material will cease printing and be promoted online only.” – Rivkah, Livejournal, June 13th 2008
The creator is going to discuss the possibility of regaining the print rights to her work, or at least the (as-yet unpublished) third volume of Steady Beat.
You really ought to go and read the whole thing.
Update June 14, 2008: According to creator Christy Lijewski, not all books are going to the web. She says that the third volume of her series “re:play” will be published by Tokyopop as scheduled. Also, in the comments (scroll down) Lijewski notes “Yeah it really is case by case as some things are getting flat out cancelled (like Bettina’s book) and some things are going to web (like Rivkah’s book) and other things are being left alone.“ Yikes, you know? Just… yikes. Check it out for yourself, http://zombiejam.livejournal.com/119311.html.