From what I understand they have financial trouble but are still in a position to manage stuff they've licensed, rather like Geneon. They were able to get Now and Then, Here and There on Ani-Monday, for example. The company is just far too small to actually produce DVD's on its own. So as an active company CPM is practically dead, but it's not totally gone.
Slayers is back in print thanks to FUNimation. They definitely have distribution rights, since Funi is the one streaming it on various video services. They also got Slayers Revolution, so the property seems to pretty be theirs now.
Lord, now that the topic's come up, I really wish Lodoss War would get salvaged. Certainly the OVA.