Why wont Mercury revive the cougar?
What you're stating as "easily based" is not really that simple. True, it's not as difficult, time consuming, nor as expensive as creating a new car but it still involves designing and making new parts to give the Mercury version it's own character and feel. In the end, it would really just cannibalize sales from the Mustang anyway and complicate the Ford line-up of vehicles. That's something Ford cannot afford to do at this time.