The Business

<p dir="ltr">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.</p> <p><strong id="docs-internal-guid-f72f834a-7fff-df76-5f6a-f41a9b65000c"><br></strong>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 <a href="https://www.hollywoodreporter.com/movies/movie-news/super-mario-galaxy-box-office-massive-1236554520/">The Super Mario Galaxy Movie</a>, 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.</p>

<p dir="ltr">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 <a href="https://www.hollywoodreporter.com/tv/tv-news/bachelorette-taylor-frankie-paul-third-domestic-incident-1236546750/"><em>Bachelorette</em> scandal</a> to the <a href="https://www.hollywoodreporter.com/business/digital/openai-shutting-down-sora-ai-video-app-1236546187/">abrupt cancellation of Sora</a> by OpenAI, and fresh <a href="https://www.hollywoodreporter.com/business/digital/fortnite-studio-epic-games-lays-off-staff-downturn-1236545747/">turmoil at Epic Games</a> amid layoffs, Matt Belloni and Lucas Shaw unpack the challenges facing Disney’s new chief.</p> <p><strong id="docs-internal-guid-9494b032-7fff-331f-7322-d10dd0ab72fc"><br></strong>Plus, we revisit our conversation with Daryl Hannah, who joined Masters last year to discuss her Neil Young concert film <em>Coastal</em>, 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 <em>Kill Bill</em> press tour, and reveals what prompted her to proclaim “Slava Ukraini” at last year’s Academy Awards.</p>

<p dir="ltr">This week, Kim talks to Diane Becker and Ted Tremper about <em>The AI Doc: Or How I Became an Apocaloptimist.</em> 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.</p> <p dir="ltr">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 <a href="https://www.hollywoodreporter.com/business/business-news/new-disney-ceo-josh-damaro-priorities-first-memo-1236539566/">memo to employees</a>, emphasizing creative storytelling and the embrace of new technology. Meanwhile, the banter partners examine Wall Street’s <a href="https://theankler.com/p/wall-st-sours-on-the-ellison-deal">negative reaction</a> to the Paramount–Warner Bros. merger and why California Attorney General Rob Bonta has <a href="https://www.latimes.com/entertainment-arts/business/story/2026-03-12/california-atty-general-vows-to-scrutinize-paramount-warner-deal-david-ellison">vowed to scrutinize</a> David Ellison’s acquisition of the legacy studio.</p> <p> </p>

<p dir="ltr">This week, Kim talks with Tilly Norwood creator Eline Van der Velden, who defends her <a href="https://www.hollywoodreporter.com/movies/movie-news/sag-aftra-slams-ai-actress-tilly-norwood-xicoia-union-1236388942/">controversial synthetic character</a>. 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 <a href="https://variety.com/2020/digital/news/miquela-virtual-influencer-signs-caa-1234599368/">more agents will follow CAA’s lead</a> in signing synthetic characters.</p> <p><strong id="docs-internal-guid-4695e7d0-7fff-a069-2729-a855e21b8225"><br></strong>Plus, Kim Masters and Matt Belloni discuss Ben Affleck’s investment in AI through his company Interpositive, <a href="https://www.hollywoodreporter.com/business/digital/ben-affleck-ai-netflix-1236521806/">which he sold to Netflix</a> 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 <a href="https://www.hollywoodreporter.com/music/music-industry-news/live-nation-employees-gouging-fans-messages-court-docs-1236528633/">price gouging fans</a> — comments that later prompted the company to distance itself from those involved.</p>

<p dir="ltr">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 <a href="https://www.hollywoodreporter.com/tv/tv-news/fcc-jimmy-kimmel-charlie-kirk-monologue-1236373708/">an FCC clash involving Jimmy Kimmel</a>, the <a href="https://www.hollywoodreporter.com/movies/movie-news/ai-actress-tilly-norwood-backlash-xicoia-eline-response-1236387903/">arrival of synthetic “performers,”</a> and some <a href="https://www.hollywoodreporter.com/business/digital/openai-walks-back-opt-out-sora-video-app-ip-characters-1236393079/">wonky legal maneuvering from OpenAI</a>. 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.</p> <p><strong id="docs-internal-guid-dd501131-7fff-3784-a234-3b06c5a2fa64"><br></strong>Plus, David Ellison has unveiled plans to <a href="https://www.hollywoodreporter.com/business/business-news/david-ellison-talks-warner-bros-deal-comments-1236519395/">merge Paramount+ and HBO Max</a> 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.</p>

<p dir="ltr">This week, Kim sits down with Brazilian writer-director Kleber Mendonça Filho to discuss his Oscar-nominated political thriller <em>The Secret Agent</em>. 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 <em>Aquarius</em>. Plus, a special guest drops in for a brief chat.</p> <p dir="ltr">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.</p> <p>Do you love listening to The Business? We want to hear from you! Please take a moment to share your feedback in <a href="https://docs.google.com/forms/d/e/1FAIpQLSfmgKUA5dAgDXVP10ktLJAsFq1hGJfwBCvMKYTVTT7dC0nIjw/viewform">this survey</a> so we can make your listening experience better. Thank you!</p>

<p dir="ltr">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.</p> <p dir="ltr">Plus, Masters and Matt Belloni unpack a less than ideal week for Paramount as the company continues <a href="https://www.hollywoodreporter.com/business/business-news/paramounts-savvy-legal-maneuver-for-warner-bros-alarms-democratic-senators-1236509907/">its effort to win over shareholders at Warner Bros</a>, beginning with CBS pulling the plug on Stephen Colbert’s planned <a href="https://www.hollywoodreporter.com/tv/tv-news/stephen-colbert-late-show-cbs-lawyers-fcc-1236508487/">interview with Texas state rep James Talarico</a>. 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 <a href="https://www.hollywoodreporter.com/tv/tv-news/anderson-cooper-leaving-60-minutes-1236507097/">the departure of Anderson Cooper</a> after nearly two decades at 60 Minutes, another high-profile shift inside the David Ellison led news division. </p>

<p dir="ltr">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.</p> <p dir="ltr">Plus, Masters and Matt Belloni dig into the latest twists in the Warner Bros. sale, including Paramount’s <a href="https://www.hollywoodreporter.com/business/business-news/david-ellison-adds-new-sweeteners-in-hostile-paramount-megadeal-bid-for-warner-bros-1236501314/">new concessions</a> 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.</p> <p> </p>