Gary Illyes, representative of Google, started the topic at State of Search.
The reason is quite simple: you can easily lose traffic generated by pages that contained specific information.
The expert says that the removal of old publications has become a trend among SEOs. Moreover, the trend is popular among news sites that for some reason delete content instead of archiving it.
However, archived content is a source of additional traffic. Besides, storing such a collection of materials can even bring some revenue with time. For instance, the New York Times archive contains around 13 million articles dating back to 1851.