It's actually not off topic, but a valid question.

Shout! is just one of many Private Labels, so the competition is pretty fierce.
It's all about acquiring or leasing the rights in whole (worldwide), or in part (regionally), the type of media (BD or DVD), and the allotment they need for the venture to be profitable.

I believe they own the rights to the entire "New Horizons" & "ITC Entertainment" catalogs to various degrees, and have sole home video distribution rights in North America for IFC Films.

In short, is it possible for them to acquire the rights to the likes of Willow & The Last Starfighter? Everything is possible, but the real question should be "are these titles actually available, and if so at what price?"

As long as these titles make a profit in Home Video, major studios don't have a problem re-releasing them through their own channels, throw in the affordability & availability of the MOD option, odds are not that good that they would lease the rights to the competition.