It has been roughly a year since a live-action adaptation of Sonic the Hedgehog was announced to be in the works. At the time, the film was scheduled to make its release in 2018. This announcement came around the same time that Sega began restructuring the company and working to right their wrongs over past game releases.
Sony has dropped the rights to the movie, perhaps because they thought that making a live-action movie about a blue hedgehog that likes to go fast wasn't the best idea. Now, Paramount Pictures has grabbed the rights to the film.
Paramount plans on bringing the Sonic movie to life by blending live-action with CGI animation (kind of like the live-action Death Note).
Most of the team from Sony's Sonic plans are still in the mix with Paramount. The director behind Deadpool, Tim Miller, will be acting as executive producer, Jeff Fowler (a collaborator that has worked with Miller before) will be making his directorial debut, and Toby Ascher will act as another executive producer, along with Dmitri Johnson and Dan Jevons as co-producers.