I doubt it, they would only have inherited a load of debt. If IW had any physical assets like owned their warehouse, studios, land etc, then they might have been worth trying to save, but as they had no real assets then all you are buying is a failing brand name with big debts and no assets.
By the looks of their accounts Hochanda aren't making money at the moment, they are paying off loans (loans were maybe to purchase create and craft) so doubt they would have had the enough financial clout to try and mount a rescue mission of the main IW business. Makes more sense, letting IW die off and starting your own channel, although i question their wisdom in choosing former IW presenters and products to be on the channel, might find themselves being in contact with ASA a lot more.