Do you think the WWE actively tried to purchase Ring of Honor early last year because 205 Live was struggling right out of the gate? If you remember the reports before the deal fell through, it wasn't just the library they were after. They wanted the whole company and still continue to air their weekly TV show on the network.
Here's my theory of what they had planned. They buy ROH and eventually merge the cruiserweight division into ROH and maintain it as their “small guy brand” from Full Sail. We're seeing now that 205 Live is touring the northeast US. Could they have initially wanted that with ROH which has a built-in in fanbase for Northeast tours?
It just seems like Triple H thought he found a way to escape the cruiserweight fiasco and save face by doing this. The tape library and cutting ties to NJPW would have bonuses.
The idea certainly seems feasible, but ultimately I don't think there were ever serious discussions about buying the company. It was just a lot of rumors that were constantly refuted and then the story just went away and never came back.