What if Walter Lantz Productions remained open?

Walter Lantz Productions, an animation studio run by Walter Lantz, which specialized in animated cartoons and such lovable characters like Woody Woodpecker, Andy Panda, and Chilly Willy, really shut down in 1972. And Two Decades Later, Universal formed Universal Animation Studios (formerly Universal Cartoon Studios).

But, in this theory, what if Walter Lantz Productions remained open, and was later renamed as Universal Cartoon Studios in 1991, and later on Universal Animation Studios in 2006?