Why can't Everglow use their original YT channel?

Probably,

Yuehua being petty

IP rights most likely

They can’t use it—Yuehua owns the content and the channel still makes few dollars.

Quote from Uni909

Yeah but if they are not going to use the channel or the name, why not just give it to the girls?

^ what the person above me said

PLUS the company might not want to set a precedent to just "give" away IP rights without the right fee

Its actually sorta reminiscent of the same issue between Tana and Brooke for the cancelled podcast.

Tana said she wanted to just deleted all as soon as the podcast ended and Brooke was like “i still make like… a living from this” and technically if Everglow took over they could pull a Tana and cut Yuehua out.

If Yuehua was SMART though, because both entities still profit from this single YouTube channel, theyd strike a deal that they could both benefit from because it will pull in more revenue on the old AND new videos and EVEN IF Yuehua made LESS revenue on the new videos, it STILL would boost the existing videos more but WHATEVER

Quote from Uni909

Yes I understand now. But such a shame losing near 2 million subs...

it's something that should be negotiated between the parties and I'm sure they tried but they couldn't decide...