The judge on the case ruled:
"The 1992 Agreement, which represented the Shuster heirs’ opportunity to renegotiate the prior grants of Joe Shuster’s copyrights, superseded and replaced all prior grants of the Superman copyrights. The 1992 Agreement thus represents the parties’ operative agreement and, as a post-1978 grant, it is not subject to termination."
Here's Peavey's attorney Marc Toberoff on the ruling:
"The order for the most part is the tentative order issued over six weeks ago before oral argument. We respectfully disagree with its factual and legal conclusions, and it is surprising given that the Judge appeared to emphatically agree with our position at the summary judgment hearing."
What does this all mean? It means WB can make as many damn Superman movies as they want, because they retain the rights to the character.
If you want to read the full ruling click here.
SOURCE: The Hollywood Reporter