I doubt any one of us really knows where the licence is today.
Last we ever heard of it, Interplay retained the rights to publishing (as said by Kulas, if sequels are to be made, it's Interplay's choice), and Volition to the content of the two already released games (at least that's an assumption considering who's been handling the assets after the breakup).
Who Interplay whored it to, and for what purposes, I doubt we'll ever really know that. Though I do assume we'd hear about it changing hands at some point if it happened, for black and white profit.