Super rough. Ann VanderMeer is an awesome editor. I sold two stories to her this year, and what was cool about that for me was that my work was being bought by Ann VanderMeer. The idea of appearing in Weird Tales is really cool, too, but I know Ann's work much more from the anthologies she's edited with her husband Jeff VanderMeer than from the magazine itself. The whole experience was massively surreal in a very positive way, just as this revelation is producing feelings that are not so good.
Anyway, the magazine has been sold to Marvin Kaye, who will fulfill the dual role of publisher/editor. I don't know Kaye's work, but he's got a massive bibliography and has won a World Fantasy award for Best Anthologist, so I expect he's no bad dude - likely the opposite (though perhaps possessing demoniac/lunatic underqualities like most fans of speculative/weird fiction). I'm interested to see how the magazine further evolves under his leadership.
On a selfish note, I'm also interested to see what happens with my stories. Even though Weird Tales bought my work, there's no obligation for them to use the stories, and Kaye may have a different direction in mind when he takes over. I suspect it will be an interesting learning experience vis-a-vis the ravages of the publishing world.
Anyway, Ann and Jeff are currently producing a mammoth anthology called "The Weird: A Compendium of Strange and Dark Stories" (750,000 words - wowza), and Ann seems to have plans for a blog re: "the weird," so it's not like we can't expect some more awesome weirdness from her in the near future.
Also generally it could be said THINK POSITIVE THOUGHTS OR BE CAST INTO THE ABYSS.