I blame low sales. Marvel went in expecting to be #1 every month and they overpriced the crap out of it causing it to tank.
I like to imagine meetings at Marvel with Joe Q. trying to figure out why the book isn't selling.
It's weird, because the sales are low likely due directly to the higher price and it just being reprints of material fans have already read (though the recoloring is fantastic and does improve on the existing art to an amazing degree, especially Totleben's complex approach).
And it's even weirder that the new material that will finally continue the story and likely draw larger sales as a result isn't motivating that some.
Course it's all supposition anyway. I can see the anticipation and expected larger sales of the new material motivating legal claims to ownership/partial ownership, which those legal troubles Gaiman is talking about most likely arose from.
And it's obvious Marvel does have long term plans in terms of printing new material beyond just the currently stunted Silver Age arc and the Dark Age stuff, and I think that was always the focus in terms of profits for them. For once, Marvel may have been playing the long game... course I'm probably giving them too much credit in that regard.
I would sort of expect that if people aren't buying the reprints, the would just go ahead with new stories and publish the two simultaneously.
Re: Marvel to Publish Marvelman!
They can't think anyone would buy those old stories. They're awful.