I see from LiveJournal that a mass panic is going on following a substantial numbers of layoffs at the LJ offices in San Francisco. Personally I can’t see LJ going away. They still have their Russian operation, which is the head office, but I guess they may be less responsive to English-language customers in future.
Anyway, if you are looking for a new place to blog, one of the easiest options is to sign up at WordPress.com. You’ll get a free blog with vastly more functionality than LJ, and better free themes as well. The free blogs do have some ads, and a wordpress.com address, but if those things irk you then there are premium account features available. Alternatively, if you are web-savvy and already have a site of your own, you can download the software for free and manage your own blog.
I’ve been using WordPress for several years, and I’m very happy with it. If you have any questions about it, please ask.