In what seems to be a classic schoolyard-bully stance, Todd McFarlane has stated in this interview at ComicBookResources.com that he’ll act as though he owns all the Miracleman rights until someone proves him wrong (supposedly in court).
Of course, he knows he’s wrong, he doesn’t care. He’s got the clout (read: money) to make proving him wrong too costly for anyone and has decided that this makes him right.
And I’ll add a note here saying that the statements above are not necessarily the opinions of everyone here at The Dreaming, nor Neil Gaiman himself. It’s just me folks (and, I’m sure, a lot of you).