I'm not sure who you mean by "they". CMP completely owns TPJ and everything associated with it. There is no other party to this decision.

The folks at CMP kept it alive much longer than they should have, business-wise. A lot of people worked on it as an extra job assignment, and I think they did a pretty good job.

The name is just a name, though. The Perl community already has another print magazine, which I started several years ago when I knew this day would come. :)