If a channel is loosing satellite rights of movies, that doesn't mean that the channel has to shut down.
Renewal of movies is a very common process among different networks. A particular movie's satellite rights is renewed back by the same network or another network with a minimum gap of 5 years or more. This is happening even among South Indian channels
Yes, Sony is loosing many movies to other networks but it also has done some renewals and has its own collection of movies. Many block buster movies were premiered on Sony but now the rights of movies are woth other networks.
Moreover, it's the production house which sells their movies in most cases. Who knows, Sony might get back at least some of its movies back in future.
Sony Max is an exclusive movie channel and won't shut down so easily.