BM's actual copyright status?

[Havard]

The simple version is that WotC owns Blackmoor.

Now to get into some more detail:

Wizards of the Coast
The own the Blackmoor name, the setting and most associated IP.

Arneson Estate
Dave Arneson said that Bob Bledsaw had reverted the rights of the FFC back to Dave. This would have been passed onto his
daughter upon Dave's passing.

Judges Guild
Assuming the above is true JG holds no claim to Blackmoor. If Bob Bledaw never made the promise of reverting the FFC rights back to Dave into writing, then JG could dispute the claim, perhaps making it possible to reprint the FFC. This is problematic however because of WotC's claims to the Blackmoor setting. They could probably get away with publishing the FFC as a Campaign Journal, but not as a setting.

ZGG/Dustin Clingman/Code Monkey:
It is hard to say if they have any claim. This depends on the contract ZGG had with WotC and whatever contract ZGG and with Code Monkey. Most likely if they have any claim at all, it is to the specific content published while their lisence was in effect. This would prevent WotC from publishing things like the Redwood Scar or other books published during that era. I do not believe it would prevent WotC from rewamping the DA series for 5th Ed however.

Code Monkey has claim to Shaerdraeth, although that setting includes a few items that might be considered plagiarism, if not removed before publishing.

Flying Buffalo
Dave Arneson sold his company Adventure Games to Flying Buffalo. This included Adventures in Fantasy and the mini-setting Bleakwood.


The above might look complicated, but the simple answer is WotC owns it.

-Havard