I heard some friends talk about it.

I just want to confirm.

They are probably referring to the trend for colleges to award their own degrees (UCL, KCL and LSE have all done so over recent years) i.e. you'll have your degree awarded by QM, UCL, KCL, LSE and not the 'University of London', but they all remain under the umbrella of the University of London.

Except Imperial College, who did fully withdraw from UL.

The University of London intercollegiate LLM will cease to exist entirely from this year.