Correct me if I'm wrong, but while you don't need to report every time you change programming, you are required to report when you complete a contract for a library  that involves either cash or shares, or you cancel a contract, as either case directly affects shareholder valuation. 

A PR was issued that stated that a library of movies was being purchased, and that caused the delay of the launch, but it was also stated to bring added valuation to company. Based upon that information that was provided by the company, many investors may have invested more money. 

I believe circumstances regarding that type of transaction are to be reported on financials. AND, if that type of deal is canceled, I also believe it is incumbent upon the company to duly notify it's shareholders of that development as well.

If everything is going to be secretive and private, why bother being a public company?