They don't make money, they get axed.
As much as I dislike Activision in general, this is a case where you can't really fault them.
They are a business first and foremost, so if they have a part that only loses them money what else should they do?
If you do a bad job you get fired, it's as simple as that.
Besides, Bizarre wanted to join Activision, they weren't bought up or anything.
Bizarre Creations said:
The perfect solution for us is to join the ranks of Activision, alongside their other talented studios. It's a pretty incredible chance for Bizarre to improve ourselves and make the most of all the fantastic new opportunities this opens up.
Bizarre isn't a developer in financial trouble, and we're certainly not looking to be "saved" by a bigger corporation. We're a dev looking to take our games to the next level, and make the absolute best products we can possibly make.
(...) [http://www.bizarrecreations.com/article.php?article_id=5277#pressrelease]
So that's pretty much the idea behind it. Bizarre are happy because it means we're completely safe as a company, we all get to stay exactly the same, and we now have the opportunity to stretch our legs with some brand new game concepts. This is going to be fun...
Great fun, I bet.