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Originally Posted by Kurufinwe
They agreed to license King's Quest to Telltale, so they're not entirely against doing anything with their old Sierra properties.
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Yeap, but it's not that simple - remember that LucasArts "borrowed" rights to Telltale for Monkey Island, rather then selling it, and Telltale is not going to public with the details on their King's Quest acquisition, which might be the same story.
Also, it's not really clear which Sierra franchises are actually owned by Activision. Couple of them were sold even before Activision, with Vivendi, like Larry. Gold Rush is owned by the original designers, not Activision. Gabriel Knight is on the GOG, which probably means it's still with Activision, but Quest for Glory is not. There's a rumor concerning dispute over the franchise, which would also mean that there might be some franchises where it's not really clear who holds the rights, which could make the situation over acquiring rights even more harder.
And let's not forget that Silver Lining guys had to go to discuss legal rights two times - with Vivendi, and later with Activision. So King's Quest franchise was actually a "good sell" since there was already strong fan-made material.