They're developing a game called "Fortnite" right now, plus also there's Infinity Blade and the Unreal Engine itself. Note that while the BHG people asked Epic if they could work on "an Epic IP," nothing in the article says that that's what they're going to do, or even concretely if Epic currently knows what they're going to do. All we know is that they'd "love to build even more successful projects with [their] growing team," and hey, on the matter of which Epic IP they asked about, last we heard, Epic didn't want to license Jazz in the first place. BHG has engine-building experience with their Big Huge engine, but they've never worked on anything remotely similar to a cartoonish platformer. Lastly, while CliffyB has certainly stated that making a new Jazz game would require Epic to have more employees to work on it, he's also mentioned the issue that probably not enough people would buy it to make the investment worthwhile, and hiring some of BHG does nothing for that issue.

It's not impossible. But you're extrapolating a lot from an article that doesn't really say much about the specifics of future plans or even whether there are any just yet.