I agree gleongelpi, that there probably has been a tremendous amount of preliminary work already, but when it comes to contracts, they are usually drafted by whoever of the two entities has the larger legal department, in this case, I am quite certain that the studios are in the drivers seat when it comes to contract language and timeframe to push it through.
I also agree with your assessment that once one studio signs, there will be much greater pressure on the others to sign.
I do not think it will take mutiple contracts to impact this valuation though, I think the first announcement of a contract with a major studio is going create alot of momentum.
After that, the next big question is, where is the set-top box?
Answer those two questions, and it unlocks the vault to the $25billion home video market, and the $90billion cable network market.
Something to ponder: Cable networks are limited in market share and revenue based upon a physical footprint of their network. What is the largest network footprint in the world?
PS - Sorry for the novel, once I get going it kind of just spews out.