He and Liz were a great couple and they had such sparkly chemistry. BeckyH loved them and talked about how she saw Franco as Liz's most mature, adult relationship. There were many other stories they could have told with them so it's not like they were running out of real estate with their marriage. What if Liz had gotten pregnant? We know the idea of passing on his "bad genes" scared Franco. That would've been an interesting thing to explore with them (and finally give Liz a daughter). But instead they offed him for no good reason, put Liz in the dreadful pairing with Finn and gave us Austin who never worked. The great minds of GH. Which brings us to.....
There was also the rumor out there that Ric is going to die. I hope not. He's to good a character to kill off and a damn good actor. I don't see a ton of chemistry between Dante and Liz yet. Potential but not even a spark for me.
Killing Ric is exactly the kind of stupid move this show would make. You have this great actor who has wonderful chemistry with several of the women -- Liz, Alexis, Ava. He's (hopefully) worked out his issues with Sonny and they're now on the same side. So much they could do with Ric so, yeah, they'd probably kill him off and direct more screentime to the riveting monologue-er that is Jenz Sidwell.