Limp Bizkit Had a Record Deal?

This is one of those stories where you have to say, "hold on a minute."

Limp Bizkit is still a band?

They had a record deal?

Interscope Records is still in business?

Someone released something that they recorded recently after paying them to make music?

And Fred Durst is happy that they are now unsigned?

None of that makes any sense to me. By all rights, neither Limp Bizkit nor Interscope Records should still exist. I realize that it wasn't that long ago that they were both actually viable (or were they?) but we're creeping up on 2012. At some point, you have to acknowledge that the ship has sailed.