NCSoft is essentially selling/spinning off NC Interactive, forming an independent company that will now license NCSoft's titles under some likely royalty scheme like they do in most of their Asian markets. This new entity will still be in charge of translation/adaptation of said properties as well as marketing them in the region and running the service.
This doesn't include ArenaNet and unless clarified, Carbine Studios. This is just the NA publishing face of NCSoft games. As I said earlier this may have been an additional reason to close down Paragon because it was the only developer that reported to NC Interactive so no transfer of IP is involved in this spinoff.
Now NC Interactive had a history of losing money according to the previous quarterly reports once the heyday of CoH and GW wore off until GW2 came out. That turnabout shows to me at least that moneys from box sales go though NC Interactive first, acting like a publisher. My point being that from now on, if NCSoft's various properties over here fail to pull in enough money to keep this new company open, oh well, it's not NCSoft's fault.