For an older movie the first step is to prep the film. It needs to be fixed up, cleaned and touched up (time degrades everything) The time will very a lot depending on condition of the film and the final quality you want.
Then once you have a film master that is acceptable you need to scan it to make a digital master
Then you need to take that digital master and compress it. And then you need to fiddle with the compression.
You also need to decide what you want, maybe create some extras.....
the next step is to create a replication master,
once everything is known and almost done you need to create test disks to make sure everything is OK.
then you need to replicate it and distribute it.
It all depends what you want as a final product. For instance for most DVDs the scan's where at 2k, the encoder tends to do a better job when it down converts while encoding because it understands the importance of each pixel in the final product better. that is why they want 4K masters. On the other hand if you want to cut corners you could start from the 2k master created for DVD for the disk (Universal did that on some HD DVDs and it shows).
PS and then there is the politics, X owns the music rights, Y owns rights for some part in some countries. Many times when there are delays (title anounced but taken off the list) it is because of negotiations that got blocked somewhere.
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