Actually the lockdown has been quite instrumental in showing movie management if various networks and Sony haa easily scored the most. This also adds up to the fact because of the B4U deal. And Since I and @rahul_apk bro have pointed out there will be less effect as far as tv deals is concerned. The lockdown actually showed how vulnerable Star is. They lost some of their amazing films like Maachis, Apna Desh to Zee which in my opinion they could have handled it better. At least Maachis should have been remastered so as to air on Star Gold Select. But Star is gaining with most of the production houses currently favoring them. The War trick is not working anymore and Housefull 4 is the only bastion of hope as far as Star's ratings are concerned.
Regarding TSeries they are a money minded company but they won't work with Star because their deal with Star between 2014-17 was a disaster. Except Yaariyan and Sanam Re nothing was in place, and Bhushan already dealt with Disney for two of his Adult Films like Ek Paheli Leela and Hate Story 2 so there is a bleak possibility
I really did not quite understand what u said in 1st part of post. Managing what? Old 80s, 90s films managed well by all ... Zee ahead in classic genre followed by Sony... In new films star is leading. About star losing out few films, well this is not a big deal as these things keep happening but maintaining input-output bal is essential and here sony is losing as far as post 2000 bollywood content is concerned. Where did u find star fragile they did well on all fronts, premiering new hit movies and even giving so many free on ott. Getting so many old films from ultra, shemaroo, balaji films, etc. Sony is majorly dependent on goldmines dubbed library and much more fragile. About T Series just wait to see what is in store