What I heard;
-- CNN moved to have the case dismissed
-- The judge denied the motion
-- If the case had gone to trial, Sandman's lawyers would have been able to depose employees, subpoena documents (bank records, phone records, emails), and all manner of fact-finding. That process could have aired a lot of CNN's dirty laundry as well as proven they were malicious in their coverage of the Sandman story -- and many others.
CNN basically knew they would have lost the trial. Sandman is probably a multi-millionaire. He now has the resources to go after the other parties, which his lawyers just named this week.
I think before this is over, Sandman will have enough saved to run for President. Too bad he has to wait another 17 years or so.
