You don't need to be a brewer to realise that the situation is not as simple as this post suggests. Let's take Robinson's for example. Quite a few Robbies pubs, like those of other brewers and pubcos (the big chains that were set up after the Tories introduced the Beer Orders 20 years ago) have been losing money for a few years now, for various reasons, including the smoking ban, increases in duty, and cheap booze being sold by supermarkets. Until property values crashed this year, there must have been be a big temptation to cut and run - i.e. sell off for residential purposes some of the loss-making pubs in plush residential areas. I can think of a few round here which could have been worth a lot of money.
However, Robbies have held out against any temptation to asset-strip, and are sticking it out for the long term. And as a result, we still have our pubs as valuable community facilities, subsidised, in efect, by the brewery.
So let's hear it for Robbies! (And no, I have nothing to do with them - apart from consuming their beer, of course