Absolutely not, the schools would remain in place. But one singular district could administer the schools and all the duplicated staff could be streamlined. Each school has plenty of students but one district office would allow more money to go into each school. Now in the two District Offices, there are two of everyone starting with the Superintendent and going down the totem pole.
But I know that is hot potato nobody wants to touch but at some point money or rather the lack of money is going to dictate that these things will happen.
Not advocating closing schools but consolidating districts.