When Betaworks' acquisition of Digg was announced last week, it was reported that the social news site would be shut down and folded into News.me. Turns out that's not the case. Engadget has learned that Betaworks plans to relaunch the site in early August with a complete overhaul that will include "personalization features similiar to what News.me alreayd offers." However, Engadget goes on to say that the site will eventually be folded into a new news service along with News.me. Who knows what will happen, we're just glad Digg will rise again.