[Speculation] What if D&D got sold...

[Glyfair]

Sold? I thought Hasbro sold an exclusive LICENSE for electronic rights to all its brand names (which included D&D) to (was it) Atari?

Yes. It was for 15 years (of ends in 2015, IIRC).

That license must have terms for termination.

I'll note that Hasbro bought back some of the rights they had sold. In fact, I think Infogrames only owns the rights to the D&D license and a few of Hasbro's games that they sold back (again) to the company (perhaps with a more limited license). So, I believe it's not as easy to get the license back, they'd have to buy it back.

Because TSR was struggling under mismanagement and there was a business opportunity for WotC to expand its market.

No, that's why they could buy D&D, not why they choose to.