Does a large company blog on a separate site worth the expense?

I inherited a legacy company blog at my new job at a large e-commerce site. It's been in place for over ten years, and it's updated with new content 7 times a week by 2 full-time writers, and a host of guest authors. Budget is ~$200K per year for the blog. It mainly consist of product reviews, techniques, and legal opinions. 95% of the articles have links to products on our site. Normally I would think this is great but here's the rub - The blog lives on a separate URL and hosting. There's a link in our footer that will take you to the blog, and we send out a recap (newsletter) every weekend.

The blog is not a major source of traffic or sales. We're a low margin, high volume company. I'm evaluating the need to continue to updating the content so often, and let the blog remain in place.

This would mean a considerable savings that I could use to do more advertising that ties back directly to the site.

The 1 staff writer would stay to manage our social and update descriptions, SEO, and provide content to the main site. We would no longer have a need for the supplemental content.

Our main site has customer supplied reviews, unique short and long descriptions for each product.

Second option would be to try and monetize the blog. That would require someone to actively sell the blog, and cannot have advertisers that compete in our space. It would mainly need to be manufacturers and not any other site that has retail.

Thoughts?