If Arrington wasn't completely full of shit, he'd actually open source some or all of it instead of just "pushing" for it. I mean, it's a dead project right? If it's dead, then release what you've got to the community and watch someone else follow through.
Also how would he ever let Fusion Garage "jointly own" part of the IP? That sounds like a terrible idea. The only way that happens is if his "team" couldn't actually make the thing work (which is what I'm reading between the lines). So he's over a barrel because he promised WAY too much and couldn't actually make it happen.