It's a sad day and the end of an era. Development is to cease on the Netscape browser, which at one time held the largest market share of all browsers, and was the first browser to gain mass popularity.
While internal groups within AOL have invested a great deal of time and energy in attempting to revive Netscape Navigator, these efforts have not been successful in gaining market share from Microsoft's Internet Explorer. Recently, support for the Netscape browser has been limited to a handful of engineers tasked with creating a skinned version of Firefox with a few extensions.
AOL's focus on transitioning to an ad-supported web business leaves little room for the size of investment needed to get the Netscape browser to a point many of its fans expect it to be. Given AOL's current business focus and the success the Mozilla Foundation has had in developing critically-acclaimed products, we feel it's the right time to end development of Netscape branded browsers, hand the reigns fully to Mozilla and encourage Netscape users to adopt Firefox.
Farewell, Netscape. It was the first browser we used. The king is dead. Long live the king.