Makes sense -- I mean, let's be honest. It's not as if Neil Gaiman was going to self-publish an Angela series.
I wish this kind of thing happened more often, both ways. It's unfortunate that corporate America and trademark zealots simply won't allow for characters who clearly are no longer in a company's plans aren't simply bid out for auction.
It's OK to not want to use Ted Kord, for instance. But if you have no plans to do so, why not just sell them or let them go into the public domain so someone else can?
*Sniff, sniff* "Damn it, Diana...If I'd known they would trade us in for a JT Krul-written Captain Atom and "The Savage Hawkman," I'd have let Superboy-Prime destroy all reality.""Superman flies and is really strong...what the fuck else do you need to know?!"
-- Hitler, expressing his displeasure about DC rebooting and complaints about continuity