Caught this little blurb on the Yahoo! Launchcast website today:
Starting February 16, 2009 LAUNCHcast will be powered by CBS Radio. We will be offering over 150 exclusive stations, but your customized station will no longer be available. We appreciate your patience during this exciting transition.
That's about it for me then. Basically 99.9% of my time spent listening to Launchcast was listening to my personalized station. I guess I won't be using Yahoo! Music services much anymore, unless I feel like watching music videos. Pandora, anyone?