Explore every episode of the podcast The Business

This week, Van Dyke Parks sits down with The Business Showrunner Joshua Farnham to look back at a career that stretches from childhood acting to collaborating with Brian Wilson, and scoring films for Jack Nicholson. He also recalls his first arranging job, The Bare Necessities for Disney’s The Jungle Book, and how Harry Nilsson talked him into spending five months in Malta for Robert Altman’s Popeye.

Plus, Kim Masters and Matt Belloni sort through who’s in and who’s out at Skydance. They discuss the unceremonious dismissal of Warner Bros. film chiefs Mike De Luca and Pamela Abdy, who’s taking their jobs, and the company’s promises for paying down its mountain of debt.

This week, Kim Masters speaks with actor Malcolm McDowell about his six-decade career and the long journey to finally making his latest film, the western Last Train to Fortune. McDowell reflects on his friendship with mentor and director Lindsay Anderson, shares stories from the set of Stanley Kubrick’s A Clockwork Orange, and looks back at the chaotic production of Caligula, including how Penthouse founder Bob Guccione took control of the film and added unsimulated material in post production.

Plus, Masters and Matt Belloni share the latest WarnerMount updates, including former Mattel CEO Ynon Kreiz joining David Ellison to run the new studio, Cindy Holland’s departure as Casey Bloys prepares to lead its streaming division, and the latest questions surrounding the fate of CNN.

This week, Kim Masters speaks with Sharon Horgan about her HBO series Youth. The writer, actor and producer reflects on taking control of her career by creating her own material, building the production company Merman, and working across broadcast networks and streaming platforms. Horgan also explains why she returned to the idea for Youth after years spent making Bad Sisters, and how a brief pitch to HBO quickly turned into a green light.

Plus, Masters and Matt Belloni process California Attorney General Rob Bonta’s decision to settle the antitrust suit involving Paramount Skydance. With a major wave of layoffs looming, the banter partners look at what could come next for the proposed Warner Bros. Paramount merger.

This week, Kim Masters reports on the newly formed U.S. Film and Television Production Coalition and its push for a federal tax incentive to stem the loss of production overseas. Members representing studios, producers and unions lay out the industry’s unusually unified campaign, the backing of President Donald Trump, and the details that still have to survive Congress.

Plus, Masters and Matt Belloni give a brief update on the rollout of Bari Weiss’s new 60 Minutes. Spoiler: the early ratings are not good. The banter partners also turn to a pair of surprises from the documentary world, including reports that Universal considered holding back Alex Gibney’s upcoming Elon Musk documentary from a global theatrical release, and Israeli Prime Minister Benjamin Netanyahu escalating threats against the directors of NAZA following the film’s Venice debut.

As CBS News editor-in-chief Bari Weiss prepares to unveil a new era of 60 Minutes, questions are mounting over what America’s most-watched news program will look like under her leadership. Following the exits and firings of several correspondents and senior producers since Weiss arrived at the network, newly installed executive producer Nick Bilton faces the challenge of reshaping the show without alienating its loyal audience. Matt Belloni and Lucas Shaw examine what the next chapter could look like for the CBS News institution.

Plus, we revisit a conversation between Kim Masters and Lance Oppenheim, director of the HBO docu-series Ren Faire. He talks about honing his intimate, uniquely collaborative style of filmmaking, and his interest in subjects who become “entombed” by their own fantasies. The filmmaker also shares how he cold emailed his way into director Darren Aronofsky’s inner circle. 

This week, Kim Masters talks to Lilly Wachowski about making Bound, the directorial debut she co-directed with sister Lana. Wachowski recalls the wild experience of working with legendary producer Dino De Laurentiis, and how she and Lana went from living paycheck to paycheck as carpenters to having producer Joel Silver beg them to sell him The Matrix. 

Plus, Masters and Matt Belloni dig into a newly unveiled bill that would create a federal production tax incentive, and what it could mean for the industry if passed. The banter partners also turn to some good news at the box office, where summer grosses topped pre-COVID levels by nine percent.

This week, Kim sits down with filmmaker Eric Goode to talk about his HBO documentary series, Monsters of God. Goode discusses how he pivoted from a successful career in New York’s hospitality world to making documentaries about the extinction crisis, exotic reptile smuggling, and eventually, a little project called Tiger King. He also talks about self-financing his animal-conservation projects rather than waiting around for a studio, and he has a few things to say about Netflix.

Plus, Masters and Matt Belloni break down another busy week in the Warnermount saga, beginning with the company decrying a critical social media post from actor Mark Ruffalo as antisemitic. They also discuss California Attorney General Rob Bonta canceling a tentative settlement discussion with the studio after news of the meeting leaked.

Eric Deggans speaks with Desi Lydic, a longtime correspondent on Comedy Central’s The Daily Show. She talks about how a pandemic-era segment satirizing Fox News evolved into her Emmy-nominated digital series Desi Lydic Foxplains. Lydic also shares how The Daily Show’s post-Trevor Noah rotation of hosts has opened the door for more voices, and jokes about how her conservative parents once envisioned her as either a Fox News journalist or a Hallmark movie star.

Plus, Cinema United, the largest movie theater trade organization, has changed course after opposing the Paramount-Warner Bros. merger. The group is now calling for California Attorney General Rob Bonta and Paramount CEO David Ellison to reach a settlement, stating, “Global exhibition believes in a bold future for this industry, but reaching our full potential requires working together.” Matt Belloni and Lucas Shaw dive into the latest developments in the ongoing Warnermount saga.

Kim Masters talks to Hannah Einbinder, who is up for another supporting actress Emmy for Hacks. But her role in the new film Teenage Sex And Death At Camp Miasma takes her far from the lavish Las Vegas home of Deborah Vance, to a weird and gory place. Einbinder tells Masters about coming-of-age as the child of two show business professionals, making the segue from stand-up comedy into acting, and her belief that fame obligates her to speak up on behalf of the oppressed. 

Plus, Masters and Matt Belloni discuss Paramount hinting they will move out of California if their proposed merger with Warner Brothers is delayed beyond October. Paramount is playing hardball with the state Attorneys General, whom they will square off against in court in March 2027 if no settlement is reached.

Kim Masters talks to Lilly Wachowski, co-creator of The Matrix movie franchise, about her new artist-owned, non-profit studio. They discuss how Lilly juggled multiple international film and TV productions while she was transitioning, why she stepped away from the business, and how she’s working to launch the studio, Anarchists United, to showcase marginalized talent. [ In part two of the interview, which will air in a few weeks, Lilly will share behind-the-scenes tales of The Matrix movies, and Bound, the first movie she co-directed with her sister Lana. ]

Plus, Masters and Matt Belloni discuss the impact of pushing the trial against the Paramount-Warner Brothers merger to March 2027. This will mean the Ellison family will have to pay a “ticking fee” for months, as well as further halt any plans to blend the companies. 

Eric Deggans talks to Hiro Murai, lead director and executive producer of the Apple TV horror-comedy series Widow’s Bay. They discuss how Murai helped maintain the tricky tone of the Emmy-nominated series, his work with Donald Glover on the FX series Atlanta, and how he keeps the initial spark of creativity alive when dealing with the realities of TV production.

Plus, Kim Masters and Bloomberg’s Lucas Shaw discuss last week’s halt to the Paramount-Warner merger. What the Ellison family once considered a done deal may be a little less certain at the moment.

Kim Masters talks to Kori Adelson, whose company produced Backrooms, and Roy Lee, producer of Weapons, about the hunt for the next hit YouTube IP. Adelson and Lee share their observations about the effect movies like Backrooms, Obsession, and Iron Lung have had on what studios are looking for; the filmmakers behind those three had large followings on YouTube. Adelson and Lee also explain how those same studios need to embrace creative risks–at the smaller budgets those films operated under– while taking care to understand the Gen Z audience.

Plus, Masters and Matt Belloni discuss a federal judge pausing the Warnermount merger, and Peacock’s newfound profitability. Peacock’s numbers are believed to be due, in part, to having streaming rights for the NBA playoffs, and the Spanish-language broadcast for the World Cup.

[NOTE: This episode was posted after Paramount announced that they will halt the merger until next June, at the latest, while the court weighs its decision.]

Kim Masters talks to Dale Cohen, special counsel to PBS's Frontline, and director of UCLA Law School's Documentary Film Legal Clinic, about the threat of litigation filmmakers face from the wealthy and powerful people they choose to cover, such as Donald Trump. Cohen laments that so few investigative films are being produced right now, a situation that wasn’t helped when Disney and CBS paid up to settle dubious lawsuits from Trump.  Cohen is hoping that Disney’s recent willingness to do battle with the FCC signals a growing realization that appeasement doesn’t work.

Plus, Masters and Matt Belloni discuss the latest developments in the legal battle over the Paramount-Warner Brothers merger. California Attorney General Rob Bonta sued to stop the merger this week, but has also potentially signalled some conditions that would satisfy his objections.

Kim Masters talks to LA Times Awards Columnist Glenn Whipp about the Emmy nominations announced this week. Whipp thinks this was not a stellar year in television, meaning that top nominees, The Pitt and Hacks, are likely to feast at September’s Emmys. But Whipp is pleased that stand-out new shows, Widow’s Bay and Pluribus, got some nods. And he says give Harrison Ford an Emmy already!

Plus, Masters and Matt Belloni discuss the UK possibly intervening in the Paramount-WBD merger, and CAA’s criticism of Meta’s opt-out policy for AI images.

This week, an encore presentation of Kim Masters’ interview with Alexandria Stapleton, the DGA Award nominated director of Sean Combs: The Reckoning. The Netflix docuseries examines the rise and fall of the hip hop mogul. Stapleton discusses partnering with executive producer 50 Cent, her approach to telling the story without turning it into a hit piece, and the care required when working with the alleged victims of Combs. She also explains why Netflix proved to be the ideal partner for this project, and how its legal team vetted controversial pre-arrest footage that Combs had commissioned himself.

Plus, Masters and Matt Belloni discuss Comcast’s surprise decision to break up the company. The cable/internet giant, which also owns NBCUniversal, could find an attractive suitor for its parts in Netflix.

Kim Masters talks to John Carney, who after his 2006 indie breakout film Once, has made a career of making movies about musicians making music. Generally, the ones who never got famous. His new film, Power Ballad, stars Paul Rudd as a wedding singer alongside Nick Jonas, who plays a flawed former pop star. Carney discusses his struggles to raise money for his films, and reveals what he says to - or maybe shouts at -  buskers in Dublin who have their amps cranked up to 11.

Plus, Masters and Matt Belloni discuss why Amazon dropped out of distributing Artificial, a movie critical of Open AI. Although initial reactions to a cut of it have been lukewarm, there may be other reasons why Amazon pulled out.

Kim Masters talks to screenwriter David Koepp about Disclosure Day, his latest collaboration with director Steven Spielberg. After Spielberg sent Koepp a 40 page treatment for the movie, which Koepp gave notes on, Spielberg emailed him back that “it’s your problem now.” Koepp also reveals the downside of his early success, which included writing the Jurassic Park screenplay when he was just 29. He also explains why he’s not that scared AI will replace him, and offers his very dark pitch for one final Tom Cruise-led Mission Impossible movie (Koepp wrote the original 1996 release). 

Plus, Masters and Matt Belloni discuss Fox Corp’s acquisition of the streaming company Roku. Roku is used by over a 100 million people, giving Fox access to countless homes, and a lot of consumer data.

This week, Kim Masters talks to Alvaro Bedoya, a former FTC Commissioner, about why he objects to the Paramount-Warner Brothers merger. Bedoya says it will mean fewer jobs, higher subscription fees for consumers, and more censorship when the Ellison family - who own Paramount Skydance - control both CBS News and CNN. Bedoya also addresses a surprising accusation from Paramount’s Chief Counsel against some who oppose the merger. 

[Editor’s note: this episode first aired before the Department of Justice announced on Friday afternoon that they would not challenge the Paramount-Warner merger.]

Plus, Masters and Matt Belloni discuss the box office prospects for Steven Spielberg’s new movie Disclosure Day. Can the director, who popularized the summer blockbuster, still bring people out to the theaters?

This week, Eric Deggans talks to Eric Kripke, creator of the Amazon Prime series The Boys, about criticism of the show’s final season. Elon Musk went online to trash the finale of the politically provocative superhero satire, and some of the show’s less wealthy fans also didn’t care for it either. Kripke also talks about how The Boys managed to be pretty prescient about the current state of the country, and whether the franchise–with its multiple spinoffs–is actually becoming like the superhero genre it mocks. 

Plus, Kim Masters and Matt Belloni discuss the firing of CBS’ 60 Minutes correspondent Scott Pelley. The duo also discuss the success of the movie Backrooms, and how it made its leap from YouTube to the big screen.

This week, Kim Masters talks to Jack Thorne, who won all the prizes for writing the Netflix series Adolescence, about his new series, an adaptation of the novel Lord of the Flies. They also discuss how Adolescence revealed Netflix’s stunning global reach, and why series star Stephen Graham has a co-writing credit, even though Graham doesn’t actually write. Thorne also tells Kim about being diagnosed as autistic in his mid-40s.

Plus, Kim and Matt Belloni discuss the major shakeup at CBS’ 60 Minutes. Bari Weiss, the controversial head of the network’s news division, fired two correspondents and other staff, and hired someone with no broadcast news experience to run the vaunted show.

This week, Eric Deggans talks to Courtney Kemp, co-creator of the Netflix crime drama Nemesis, about the changing TV landscape, and whether she sees Hollywood standing by diversity initiatives despite the pushback from the Trump administration. She also explains how some executives who give her notes don’t necessarily grasp what matters to her audience. After signing an overall deal with Netflix in 2021, Kemp developed Nemesis, a Los Angeles-set crime story built around ambition, class, and power. 

[Editor’s note: this segment was taped before it was announced that Kemp had signed an overall deal with Apple TV, and did not renew her deal with Netflix.]

Plus, host Kim Masters and Matt Belloni discuss the end of The Late Show with Stephen Colbert, the penultimate episode of which included a jab by Bruce Springsteen directed at Larry and David Ellison. The duo also assess the latest Star Wars release - The Mandalorian and Grogu. Disney has a lot riding on whether the franchise can successfuly turn a popular TV series into a box office hit.

[Editor’s note: this segment was taped before the final episode of The Late Show with Stephen Colbert aired.]

Kim Masters wraps up her two-part conversation with legendary actor William Shatner and famed astrophysicist Neil deGrasse Tyson. Shatner reflects on his deeply emotional journey to space at age 90 and Tyson shares why he isn’t picky about the show biz gigs he takes. The pair also reflect on technological disruption, including how the rise of AI inspired Shatner to record a heavy metal album about the Industrial Revolution. Their two-night live event, The Universe is Absurd, will be at The Saban Theatre May 19-20. 

Plus, Masters and Matt Belloni break down the strength of the new AI protections outlined in the recently finalized four-year agreement between SAG-AFTRA and the studios. They also discuss Disney’s awkward upfronts pitch, and Netflix’s continued expansion into live sports and events.

This week, Kim Masters speaks with legendary actor William Shatner and famed astrophysicist Neil deGrasse Tyson about their upcoming two-night live event, The Universe is Absurd. In the first installment of a sprawling two-part conversation, the pair reflect on how syndication helped solidify Star Trek as a cultural phenomenon, why studio executives don’t know what they’re doing, and they wrestle over the universe’s biggest questions.

Plus, Masters and Matt Belloni break down the seismic shift at Netflix following the company’s decision to give Greta Gerwig’s Narnia film a 49-day theatrical window ahead of its streaming debut. They also discuss the ups and downs from Disney’s latest quarterly earnings report and the newly finalized four-year agreement between SAG-AFTRA and the studios.

This week, Kim Masters speaks with director Kirk Jones and actor Robert Aramayo about I Swear, the BAFTA winning film about Tourette’s advocate John Davidson. Jones talks about using his own life savings to self-finance the project after potential backers pushed him to tone down the film’s language, and how that decision allowed him to cast Aramayo in the lead without studio oversight. Aramayo discusses the physical and emotional demands of portraying Davidson, a role that required extensive preparation and ultimately earned him a BAFTA. They also reflect on the widely publicized moment at the BAFTA ceremony that brought renewed attention to Tourette’s syndrome.

Plus, in the aftermath of the White House Correspondents’ Dinner, Kim Masters and Matt Belloni unpack the FCC scrutiny facing The Walt Disney Company over a recent late-night jab from Jimmy Kimmel. The duo also explore the unexpected box office strength of a controversial Michael Jackson biopic and the delicate balancing act at Lionsgate as it weighs a potential sequel amid ongoing public backlash.

This week, Kim Masters speaks with Ben McKenzie about his documentary Everyone Is Lying to You for Money, which examines fraud in the cryptocurrency world. The actor discusses leaning into his popularity as Ryan on The OC as a narrative device in the film—one that helped get him in the room for a cringe-inducing interview with now-convicted crypto figure Sam Bankman-Fried. McKenzie also explains how he bet against crypto to help finance the project and shares some thoughts on the celebrities who profited from crypto endorsements.

Plus, as the White House Correspondents’ Dinner approaches—with Donald Trump expected to attend and a mentalist booked instead of a comedian—Masters and Matt Belloni examine concerns about the event’s legitimacy, media boycotts, and the broader political entanglements facing outlets like CBS News under David Ellison’s leadership.

This week, Kim Masters speaks with Riz Ahmed about his modern retelling of Hamlet. The actor and producer discusses the decade-long journey of adapting the Shakespeare classic and how the project evolved from a planned Netflix streaming release to securing theatrical distribution with Focus Features. He also jokes about family members misinterpreting the significance of his Oscar-nominated performance in Sound of Metal and traces the origins of the “Riz Test,” a Bechdel-adjacent measure of Muslim representation in storytelling.

Plus, as theater owners and studio executives share their views on the Paramount–Warner Bros. deal at CinemaCon, thousands of industry professionals—including Ben Stiller, Kristen Stewart, and J.J. Abrams—have signed a petition to block the merger. Kim Masters and Matt Belloni examine Hollywood’s opposition and consider whether the growing outcry will have any real influence as the company seeks approval from regulators and shareholders.

This week, Kim Masters sits down with Drew Goddard to discuss adapting Andy Weir’s novel Project Hail Mary for the big screen. He reflects on how his early days writing on Buffy the Vampire Slayer, Alias, and Lost trained him to move fast, as he did when he was tasked with turning around the script for Cloverfield after Paramount greenlit the project from an outline. He also talks about being brought in to rescue World War Z, and shares the advice he gave Andy Weir about a potential Project Hail Mary sequel.

Plus, Masters and Matt Belloni dig into the fallout from Jeff Shell’s exit as Paramount president, tied to allegations of leaking company information. The banter partners also spotlight a bit of good news in the industry following last week’s box office report: the Writers Guild’s unexpected four-year contract extension with studios, which could help build momentum ahead of SAG-AFTRA negotiations set to resume later this month.

The Academy Awards are behind us, but we’re sharing unheard stories from Kim Masters’ interviews with some of the recently minted Oscar winners. That includes director Joachim Trier, who shares how he landed on casting Elle Fanning in his Best International Feature winner, Sentimental Value. Trier also talks about getting to a place where he can cast well-known actors who sign on to his films without reading a script, just because it’s him. And we hear more from Autumn Durald Arkapaw, the first woman to win an Academy Award for Best Cinematography. She breaks down the challenges of shooting Sinners for IMAX, and recalls Christopher Nolan’s advice to Ryan Coogler about the best way to shoot the movie.

Plus, Masters and Matt Belloni dig into the theatrical bounce-back, with the box office up 23% from last year. They point to big wins like Project Hail Mary and The Super Mario Galaxy Movie, which is on track to pull in $200 million domestically and $350 million worldwide. The banter partners also unpack a stacked summer slate from Universal and Disney, and weigh in on superhero fatigue, with the latest Avengers movie set to drop this December.

And just like that, Josh D'Amaro’s first week as CEO of The Walt Disney Company proved challenging, to say the least. From a brewing Bachelorette scandal to the abrupt cancellation of Sora by OpenAI, and fresh turmoil at Epic Games amid layoffs, Matt Belloni and Lucas Shaw unpack the challenges facing Disney’s new chief.

Plus, we revisit our conversation with Daryl Hannah, who joined Masters last year to discuss her Neil Young concert film Coastal, which had a limited theatrical run in 2025. Hannah reflects on her years of acting and activism, pursued alongside figures like Willie Nelson, Joan Baez, and… Robert F. Kennedy Jr. She also recounts a painful experience with Harvey Weinstein during the Kill Bill press tour, and reveals what prompted her to proclaim “Slava Ukraini” at last year’s Academy Awards.

This week, Kim talks to Diane Becker and Ted Tremper about The AI Doc: Or How I Became an Apocaloptimist. The producers discuss how they managed to land big names in machine learning, including the CEOs of OpenAI and Anthropic. Becker and Tremper also explain how they nearly got Elon Musk—until, surprisingly, he ghosted. They also share how they kept their brains from melting while tackling a subject as overwhelming as AI.

Plus, Masters and Matt Belloni break down the first week of Disney’s new CEO, Josh D’Amaro, who outlined his goals for the company in a memo to employees, emphasizing creative storytelling and the embrace of new technology. Meanwhile, the banter partners examine Wall Street’s negative reaction to the Paramount–Warner Bros. merger and why California Attorney General Rob Bonta has vowed to scrutinize David Ellison’s acquisition of the legacy studio.

This week, Kim talks with Tilly Norwood creator Eline Van der Velden, who defends her controversial synthetic character. Van der Velden argues that Tilly Norwood is simply another character, an extension of herself, not so different from others she’s created during her years as an actress. The Particle6 Productions co-founder explains why she believes entertainment built with generative AI will find a place in the industry and predicts that more agents will follow CAA’s lead in signing synthetic characters.

Plus, Kim Masters and Matt Belloni discuss Ben Affleck’s investment in AI through his company Interpositive, which he sold to Netflix in a deal that could reach $600 million. The banter partners also address Live Nation’s ticketing practices, including a lawsuit with evidence of employees joking about price gouging fans — comments that later prompted the company to distance itself from those involved.

This week, Kim talks with SAG-AFTRA president Sean Astin about stepping into the job during a tumultuous year for Hollywood. His early tenure has already included an FCC clash involving Jimmy Kimmel, the arrival of synthetic “performers,” and some wonky legal maneuvering from OpenAI. Astin discusses the most pressing issues facing the union as bargaining is underway, including wages and working conditions as well as the challenges posed by AI companies scraping copyrighted material.

Plus, David Ellison has unveiled plans to merge Paramount+ and HBO Max into a single streaming platform. Kim Masters and Matt Belloni dig into the proposal – which comes with about $80 billion in debt and the strong likelihood of layoffs –  and the familiar promise that “synergies” in tech, ad sales and platforms will do the heavy lifting. They also examine how the shake-up may affect HBO leadership, the uncertain future of CNN, and how Donald Trump’s influence could complicate an already fraught moment for media companies.

This week, Kim sits down with Brazilian writer-director Kleber Mendonça Filho to discuss his Oscar-nominated political thriller The Secret Agent. A former film critic, Mendonça explains why he still reads every review of his work. He also reflects on the backlash that followed his 2016 Cannes red carpet protest against Brazil’s leadership and the fallout that complicated the Oscar hopes for Aquarius. Plus, a special guest drops in for a brief chat.

Meanwhile, in an unexpected turn of events, Netflix has dropped out of the Warner Bros. bidding war, leaving Paramount as the winner. Masters and Matt Belloni dive into the streamer’s decision to bow out, what could lie ahead for Warner Bros. and its news networks, and the legal hoops Paramount may expect with the Department of Justice.

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This week, Kim sits down with Academy Award–nominated cinematographer Autumn Durald Arkapaw, who made history with Sinners as the first woman of color nominated for the Oscar for Best Cinematography. She discusses her work on the film and how it evolved from a scrappy 16mm concept into a full-scale IMAX spectacle at the studio’s urging. She also addresses the mounting strain on crews as production continues to leave Los Angeles, and why meaningful opportunities for women in film remain notably scarce.

Plus, Masters and Matt Belloni unpack a less than ideal week for Paramount as the company continues its effort to win over shareholders at Warner Bros, beginning with CBS pulling the plug on Stephen Colbert’s planned interview with Texas state rep James Talarico. Network lawyers cited new FCC guidance on political candidates appearing on talk shows, a move that drove Colbert to post the segment on YouTube, outside the regulator’s reach. The banter partners also examine the departure of Anderson Cooper after nearly two decades at 60 Minutes, another high-profile shift inside the David Ellison led news division. 

This week, Kim Masters sits down with Academy Award nominated Iranian filmmaker Jafar Panahi to discuss his Palme d’Or winning film It Was Just an Accident. Panahi explains why he self finances his films, bringing in partners only after he decides the work is worthy of his signature, and how he has continued to shoot in secret despite years of arrests, censorship, and government bans. He also reflects on his decision to return to Iran after the awards season, even as he faces the possibility of another prison sentence.

Plus, Masters and Matt Belloni dig into the latest twists in the Warner Bros. sale, including Paramount’s new concessions aimed at winning over regulators and shareholders. They weigh the limits of President Trump’s influence over the deal, and how a major investor group’s shifting position could reshape the bidding landscape and spark further legal battles.

This week, Kim Masters is joined by Scott Feinberg, The Hollywood Reporter’s Executive Editor of Awards, for a deep dive into the 2026 Oscar nominees. Feinberg unpacks the debut of the new Best Casting category and explains the strategy behind Warner Bros.' support for its Best Picture frontrunners One Battle After Another and Sinners.

Plus, Masters and Matt Belloni dig into the power shifts at Disney, including Josh D’Amaro’s appointment as CEO and Dana Walden’s elevation to president and chief creative officer of The Walt Disney Company. They also unpack Netflix co-CEO Ted Sarandos’s trip to Capitol Hill for a Senate antitrust hearing, and why Paramount’s David Ellison chose to sit this one out during his own trip to Washington. 

This week, Kim speaks with Alexandria Stapleton, the DGA Award nominated director of Sean Combs: The Reckoning, a Netflix docuseries that examines the rise and fall of the hip hop mogul. Stapleton discusses partnering with executive producer 50 Cent, her approach to telling the story without turning it into a hit piece, and the care required when working with the alleged victims of Combs. She also explains how Netflix’s legal team vetted controversial pre arrest footage that Combs had commissioned himself.

Plus, Masters and Matt Belloni break down the final Sundance Film Festival hosted in Park City, and try to make sense of the $40 million+ Melania Trump documentary, including a reported $35 million marketing spend. The banter partners also dig into newly unsealed messages in the Blake Lively and Justin Baldoni dispute, including Ryan Reynolds’ not-so-subtle emails to Sony executives.

This week, Kim sits down with former Viacom CEO and MTV co-founder Tom Freston to discuss his memoir, Unplugged: Adventures from MTV to Timbuktu. From his vagabond youth to the birth of MTV and his years working under billionaire mogul Sumner Redstone, Freston reflects on a career spent shaping modern media, and weighs in on the Warner Bros. succession fight, arguing that Netflix may be the legacy studio’s best-fit suitor. 

Speaking of the streamer, Masters and Matt Belloni break down Netflix’s stock stumble despite reported subscriber growth, as Co-CEO Ted Sarandos reiterates the company’s commitment to honoring theatrical windows for Warners. To wrap things up, the banter partners dig into CNN’s potential spin-off value within Warner Bros. Discovery’s cable portfolio, pushing back on claims that the asset is worthless amid intensifying merger scrutiny.

This week, Kim Masters sits down with writer-director Joachim Trier to discuss his Cannes Grand Prix–winning film Sentimental Value. Trier explains how he structures his financing to preserve creative control while allowing for longer shooting schedules — and still delivering returns for his investors. He also reveals why he broke his own “no-begging the talent” rule when he persuaded newly minted Golden Globe winner Stellan Skarsgård to join the project. And the filmmaker shares why Sentimental Value takes a playful jab at a certain streamer’s reluctance to embrace theatrical exhibition.

Plus, Masters and Matt Belloni take aim at the Golden Globes’ awkward corporate promos — from online betting to a tone-deaf UFC cameo. The pair then break down the latest in Paramount CEO David Ellison’s showdown with Warner Bros. as Netflix weighs an all-cash bid to cut through the drama.

Listen to a special preview of Kim Masters’ conversation with Joachim Trier about his film Sentimental Value. 

Kim Masters talks with Tim Blake Nelson about his wide-ranging career in entertainment. Best known for his breakout role in O Brother, Where Art Thou?, Nelson is also a director, screenwriter, and playwright, and he’s now out with a second novel, Superhero—a black comedy about the making of a big-budget comic-book film that follows executives, cast, and crew caught in the pressure cooker of a chaotic production. He also shares his perspective on the Warner Bros. sale and explains how his fascination with the entertainment business informed the book.

Meanwhile, Warner Bros. has once again formally rejected Paramount’s latest offer, favoring a deal with Netflix. As the streamer moves closer to acquiring the legacy studio, theatrical exhibitors have taken their protest to Congress, warning the sale would have a “direct and irreversible negative impact on movie theaters around the world.” Masters and Matt Belloni break down the latest developments in the battle for Warner Bros.

Kim Masters rings in the new year with Matt Belloni and Lucas Shaw to forecast what 2026 could hold for Hollywood. The trio debates Disney’s long-simmering succession question, the impact of Trump administration tariffs on the industry, and YouTube’s growing ambitions in original programming.

Plus, we revisit a conversation between Masters and Jesse Eisenberg about his award winning film, A Real Pain. The writer, director, and actor talks about the challenges of capturing the complicated feelings of the descendents of holocaust survivors while still including humor. They also talk about the special relevance that Majdanek–the concentration camp the two cousins visit in the film–has for Masters.

This week, Kim Masters is joined by Matt Belloni and Lucas Shaw for a year-end Megabanter, looking back at a messy 2025. From the devastating Los Angeles fires to the shadow cast by the Trump administration over Hollywood, the trio digs into the Skydance-Paramount deal, a surprise Warners-Netflix upset, and Disney’s move to partner with OpenAI.

This week, Eric Deggans speaks with Vince Gilligan about his new series, Pluribus. The creator of Breaking Bad and Better Call Saul explains how he felt being at the center of his first-ever bidding war, and how a long-standing partnership with Sony ultimately brought the project to Apple. Gilligan also reflects on why the days of writing episodic television on The X-Files shaped his love of serialized storytelling. And after years of explaining his work to fans and critics alike, Gilligan shares why he’s learning to let audiences decide what his shows mean for themselves.

Plus, with the Academy set to bring the Oscars to YouTube in 2029, Hollywood’s biggest night is moving to a very different kind of stage. Kim Masters and Matt Belloni unpack why the Academy made the deal—and what it reveals about how the industry is rethinking where, and how, audiences show up.

With Netflix’s bombshell move to acquire Warner Bros. still reverberating through the town, Paramount has gone fully hostile–bypassing Warner leadership and taking its case straight to shareholders. Matt Belloni and Lucas Shaw break down the latest maneuvering in a saga that seems to sprout new twists by the day.

Also, with Kim Masters sidelined by a bug this week, Belloni presents a few bonus stories from Masters's recent conversations: Wake Up Dead Man writer-director Rian Johnson and producer Ram Bergman talk about the green room they devised for the first Knives Out–a space that became so essential to the ensemble’s chemistry that trailers sat mostly empty. And Stranger Things executive producer Shawn Levy explains why, despite the runaway success of Deadpool & Wolverine, he’s not sprinting toward a sequel just yet.

Producer’s note: This week’s banter segment was recorded before news broke of Netflix acquiring Warner Bros.

This week, Kim Masters sits down with writer-director Celine Song to talk about Materialists, her rom-com that became a surprise commercial hit worldwide. Song explains how a stint as a New York matchmaker schooled her in the economics of modern dating—and how those real-world dynamics shaped the film’s story. She also reflects on the privilege of a robust theatrical release through her fruitful partnership with A24, which also backed her Oscar-nominated debut Past Lives. And she gets into why certain elements of Materialists trace back to 19th-century novels, whether audiences realize it or not.

Plus, the lingering question of what a Netflix-owned Warner Bros. would mean for theatrical may be coming into focus. As the bidding war between Paramount and Netflix heats up, Netflix insists its WB films would still hit theaters, though a two-week run instead of the traditional 45 days raises concerns. Kim Masters and Matt Belloni break down the latest in the Warners race.

This week, Kim Masters talks to writer-director Rian Johnson and producer Ram Bergman about their latest Knives Out installment, Wake Up Dead Man. Johnson opens up about leaning on his producer when he panics during the writing process—and why, oddly enough, he never hit that wall on The Last Jedi. Bergman explains why he and Johnson prefer to bankroll early development themselves rather than put up with studio input. And they dive into the Netflix of it all: a global megaphone for Benoit Blanc mysteries, but not much of a run in theaters.

Plus, in a truly baffling twist, Paramount is set to distribute Rush Hour 4—with the once-canceled Brett Ratner back in the director’s chair. Even stranger, reporting from Semafor suggests President Donald Trump pushed Larry Ellison to revive the Jackie Chan–Chris Tucker franchise. Kim Masters and Matt Belloni attempt to make sense of the latest happenings at Paramount.

This week, Kim Masters talks to filmmaker Shawn Levy, who takes a short break from the London shoot of his Star Wars film to talk about the final season of Stranger Things, including Netflix's surprising decision to give the finale a limited theatrical release. He also weighs in on his work from Night at The Museum through Deadpool & Wolverine, and he shares his bittersweet feelings about an industry that’s undergoing very painful contraction.

Meanwhile, the bidding war for Warner Bros. Discovery offers no especially comforting scenario: Paramount’s deep-pocketed Ellisons, a studio-and-streamer play from Netflix, or a cautious Comcast—each facing the hurdle of FCC approval. Kim Masters and Matt Belloni dive into what each bidder’s move could mean for the town.

This week, Kim Masters talks to Judd Apatow about his memoir, Comedy Nerd, a scrapbook that chronicles his journey from a stand-up-obsessed kid to one of Hollywood’s most influential comedy voices. Apatow shares stories from his early days interviewing his heroes on his high school radio station, to his years as an uncredited screenwriter on the films of Adam Sandler and Jim Carrey. He also reads the infamous letter he wrote at age twelve to Steve Martin, demanding an apology after being turned down for an autograph.

Plus, Paramount has released its first earnings report under new chief David Ellison, and the message is clear: tighten up. The studio says it’s targeting $3 billion in savings by 2026 following a substantial round of layoffs. Meanwhile, Netflix is pouring serious money into video podcasts, chasing a rival’s success in the space. Kim Masters and Matt Belloni break down what’s behind the streamer’s latest splurge—and what Ellison’s belt-tightening reveals about the studio’s priorities.

This week, Kim Masters talks with documentarians Andrew Jarecki and Charlotte Kaufman about their film The Alabama Solution. The filmmakers reveal how an invitation from an unwitting warden to film a religious revival at an Alabama prison opened the door to their investigation. They met desperate prisoners who shared allegations of abuse and even murder. The film includes evidence that the prisoners captured on their cell phones, which were smuggled in and sold to them by prison guards.

Plus, after turning down Paramount’s latest buyout offer, Warner Bros CEO David Zaslav is teasing a Christmas announcement about the company’s future. With Comcast, Netflix, and Amazon rumored to be circling, questions over FCC approval and strategic stakes loom large. Kim Masters and Bloomberg’s Lucas Shaw break down the latest in the Warner Bros. bidding war.