I assume they want to keep the IP. Without any IP, a game studio (I think, could be wrong) aren’t worth anything to another publisher except as a really good, strong studio with a successful history. The studio would need to start from scratch, effectively, to develop new IP or acquire someone else’s IP.
Publishers could keep studios running, which is expensive. They seem to have communication issues ie HiFi Rush being a small, successful game by a studio they shut down and then going on to say thats the type of studio/game they want to focus on? Or having financial issues/less focus on games/no faith on new developments and instead just closing it all down to save money
This is just my layman interpretation of the situation