I think it's simpler than that. IE; not a vanity thing for his ego or pettyness for the sake of being petty,

Entity owns an IP, Entity doesn't want another entity to own it for risk to the IP. (the other entity being a globally publicly owned historic aggregator of IPs for sake of short term profits)

DIsney is doing the same in reverse with the Muppets/Henson Properties. Don't do anything with it beyond semi-annual short projects to retain the IP.

So he is being an ass.

I mean, let the IP free or try to sell it if you are not doing anything with it.