Wasnt this just mentioned on the latest NWRewind?

I have no faith in this movie whatsoever. Yeah, Illumination makes trash, but at least it's competently made trash. Sony's movie division (and increasingly their games division) can't even manage that these days, even if making this movie live action made any sense to begin with.

I actually wouldn't be surprised if Nintendo ends up canceling the movie in the next year once they actually start seeing footage of what Sony is making.  With how protective Nintendo is with their IP's, especially with a critical darling like Zelda, I doubt they'd be happy if this movie ends up the quality of Sony's usual live action films.