This sucks badly. I thought that I'd heard that the new Transformers books had been huge sellers and they were flying high. Now, I'm just hoping that someone picks up the rights and can keep most of the creative team on.
It's a real shame to see Dreamwave shut down, since the 80s comics nostalga wave is what brought me back to collecting after a decade away. While the plotlines completely reworked TF contuniuity into a somewhat supernatural mess, the various Transformers: Generation One titles were regardless some of the most beautifully drawn and colored that I've ever seen.
The last arc, with Megatron methodically running through the Decepticons to extract his revenge and assert his control, was actually starting to show promise, too.
Devil's Due will probably make a big effort to grab the rights to the TF universe, which worries me considerably...their two GI Joe / Transformers crossovers were an abomination.
"Remember, it's not a lie if *you* believe it." - George Costanza
http://www.bleedingcool.com/ for the whole story. Apparently it was a mistake, and they are trying to fix some of it. People who ordered huge might get cancellation emails, while others got lucky and still get their orders.