So I get that they needed to get rid of this guy and it should have been done well before this. I don't really understand cancelling the comic though when (as far as we know) no work has been done on it yet. Why not just get a different writer to take over?If I were them, I would just rename it and get a different writer, so his name is not associated with the project anymore.
Anyway, if they care about the company's reputation so much, they should cancel all other his comics (including "Rescue") and stop selling already published ones.
For rescue, there’s other things to consider. Rescue is probably complete. The still have to pay the other hands involved like the artists and printers, etc... they probably decided to let rescue slide because the financial loss would have been higher to cancel it now.
Rising threat, the damage was still there, but lesser so. I know the cover arts were completed for a few issues, and the writing was at least in progress. Still going to be a financial loss, but not as significant.