The news is starting to spread, the Mandriva developers who recently lost their jobs announced today a fork of Mandriva Linux named Mageia. They have been followed by most Mandriva contributors and got positive feedback on various mailing lists and websites.
Nothing seems to be setup yet but many people are joining the irc server to offer their help! The main channel on freenode (#mageia) was already over 100 people today, few hours after announcement, and the development one (#mageia-dev) had almost 50 people.
I am not sure yet if I will be able to help them much, but I wish them best of luck and will anyway switch my Mandriva machines as soon as something is available.