Having been on both sides of this: Often, one of the purposes of the leadership change was to start shedding the old regime's pet projects. Even semi-successful pet projects can be a distraction from the direction the company wants to go.

I've been unlucky enough to work under several executives who thought they could resist direction from the CEO and board. They pushed their pet projects and thought leadership would eventually see the light. Instead they got ejected from the company and replaced with someone who knew how to follow orders.

My cynical assumption when I first saw this was that it was all just politics, but I have to admit that life is so much easier when your management chain isn't fighting uphill all the time. If the CEO and board want the company working on some things and not others, you're on thin ice if your manager is assigning you to go against the company's direction. It's scarier when you may not even know what they're doing to you.

For this specific case, completely pulling the content offline feels like a loss across the board. I could see it happening as an overreaction, to send a message that the new management is serious about not repeating the (perceived or otherwise) mistakes of their predecessors with an unmistakable signal