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>

<p dir="ltr">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 <em>One Battle After Another</em> and <em>Sinners</em>.</p> <p dir="ltr"> </p> <p dir="ltr">Plus, Masters and Matt Belloni dig into the power shifts at Disney, including <a href="https://www.hollywoodreporter.com/business/business-news/josh-damaro-disney-ceo-inside-rise-background-1236494465/">Josh D’Amaro’s appointment as CEO</a> and Dana Walden’s elevation to president and chief creative officer of The Walt Disney Company. They also unpack Netflix co-CEO <a href="https://www.hollywoodreporter.com/business/business-news/ted-sarandos-netflix-lawmakers-1236494308/">Ted Sarandos’s trip to Capitol Hill</a> for a Senate antitrust hearing, and why Paramount’s David Ellison chose to sit this one out during his own trip to Washington. </p> <p> </p>

<p dir="ltr">This week, Kim speaks with Alexandria Stapleton, the DGA Award nominated director of <em>Sean Combs: The Reckoning</em>, 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.</p> <p><strong id="docs-internal-guid-6e0dfc20-7fff-5733-6dcc-36f04c529d54"><br></strong>Plus, Masters and Matt Belloni break down the final <a href="https://www.hollywoodreporter.com/movies/movie-news/olivia-wilde-sex-comedy-the-invite-bidding-war-1236485197/">Sundance Film Festival</a> hosted in Park City, and try to make sense of the $40 million+ <a href="https://www.hollywoodreporter.com/movies/movie-news/melania-trump-documentary-box-oice-1236486305/">Melania Trump documentary</a>, 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.</p>

<p dir="ltr">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. </p> <p dir="ltr">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.</p> <p> </p>

<p dir="ltr">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.</p> <p><strong id="docs-internal-guid-30296c9d-7fff-776d-7531-067afd6ca216"><br></strong>Plus, Masters and Matt Belloni take aim at the Golden Globes’ <a href="https://www.hollywoodreporter.com/tv/tv-reviews/2026-golden-globes-review-nikki-glaser-one-battle-1236470726/">awkward corporate promos</a> — from online betting to a tone-deaf UFC cameo. The pair then break down the latest in Paramount CEO <a href="https://www.hollywoodreporter.com/business/business-news/david-ellison-warner-bros-court-paramount-netflix-1236470908/">David Ellison’s showdown with Warner Bros.</a> as Netflix weighs an all-cash bid to cut through the drama.</p>

<p>Listen to a special preview of Kim Masters’ conversation with Joachim Trier about his film <em>Sentimental Value</em>. </p>

<p dir="ltr">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.</p> <p><strong id="docs-internal-guid-6fb187ab-7fff-bafe-9b30-0046160011c1"><br></strong>Meanwhile, Warner Bros. has once again formally <a href="https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-rejects-paramount-revised-offer-1236457301/">rejected Paramount’s latest offer</a>, favoring a deal with Netflix. As the streamer moves closer to acquiring the legacy studio, theatrical exhibitors have <a href="https://www.hollywoodreporter.com/business/business-news/movie-theaters-netflix-warner-bros-1236466424/">taken their protest to Congress,</a> 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.</p>

<p dir="ltr">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.</p> <p dir="ltr">Plus, we revisit a conversation between Masters and Jesse Eisenberg about his award winning film, <em>A Real Pain</em>. 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.</p> <p> </p>

<p>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.</p>

<p dir="ltr">This week, Eric Deggans speaks with Vince Gilligan about his new series, <em>Pluribus</em>. The creator of <em>Breaking Bad</em> and <em>Better Call Saul</em> 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 <em>The X-Files</em> 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.</p> <p><strong id="docs-internal-guid-356170a7-7fff-3455-8bc0-212cafdd5b09"><br></strong>Plus, with the Academy set to <a href="https://www.hollywoodreporter.com/news/general-news/oscars-bolt-from-abc-to-youtube-starting-in-2029-1236453188/">bring</a> 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.</p>

<p dir="ltr">With Netflix’s bombshell move to <a href="https://www.hollywoodreporter.com/business/business-news/netflix-warner-bros-deal-hollywood-1236443081/">acquire</a> Warner Bros. still reverberating through the town, Paramount has gone fully <a href="https://www.hollywoodreporter.com/business/business-news/paramount-launches-hostile-bid-for-warner-bros-1236444601/">hostile</a>–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.</p> <p><strong id="docs-internal-guid-05f1e0a5-7fff-7be8-5eb9-2c9a199ce164"><br></strong>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.</p>

<p dir="ltr">Producer’s note: This week’s banter segment was recorded before news broke of Netflix acquiring Warner Bros.</p> <p dir="ltr">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.</p> <p dir="ltr">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.</p> <p> </p>

<p dir="ltr">This week, Kim Masters talks to writer-director Rian Johnson and producer Ram Bergman about their latest <em>Knives Out</em> installment, <em>Wake Up Dead Man</em>. 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 <em>The Last Jedi</em>. 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.</p> <p><strong id="docs-internal-guid-51a40908-7fff-bc2a-fa03-4f39b493742e"><br></strong>Plus, in a truly baffling twist, Paramount is set to <a href="https://www.hollywoodreporter.com/movies/movie-news/rush-hour-4-brett-ratner-1236435324/">distribute</a> <em>Rush Hour 4</em>—with the <a href="https://www.latimes.com/business/hollywood/la-fi-ct-brett-ratner-allegations-20171101-htmlstory.html#:~:text=In%20interviews%20with%20the%20Los,sets%20or%20at%20industry%20events.">once-canceled</a> Brett Ratner back in the director’s chair. Even stranger, reporting from <a href="https://www.semafor.com/article/11/23/2025/how-trump-is-trying-to-remake-american-culture-starting-with-rush-hour">Semafor</a> 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.</p>

<p dir="ltr">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.</p> <p><strong id="docs-internal-guid-148f43f8-7fff-bea6-95ec-520a42ebab86"><br></strong>Meanwhile, the bidding war for Warner Bros. Discovery offers no especially comforting scenario: <a href="https://variety.com/2025/biz/news/warner-bros-discovery-bids-paramount-netflix-comcast-1236584564/">Paramount’s</a> deep-pocketed Ellisons, a studio-and-streamer play from <a href="https://www.hollywoodreporter.com/business/business-news/netflix-stock-falls-warner-bros-discovery-bid-1236431439/">Netflix</a>, or a cautious <a href="https://www.hollywoodreporter.com/business/business-news/comcast-interested-streaming-studio-assets-deals-1236413949/">Comcast</a>—each facing the hurdle of FCC approval. Kim Masters and Matt Belloni dive into what each bidder’s move could mean for the town.</p>

<p dir="ltr">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.</p> <p><strong id="docs-internal-guid-730cff45-7fff-6e5a-9b52-86614bad6299"><br></strong>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 <a href="https://www.hollywoodreporter.com/business/business-news/david-ellison-paramount-first-earnings-report-1236422995/">$3 billion</a> in savings by 2026 following a substantial round of layoffs. Meanwhile, Netflix is pouring serious money into <a href="https://www.hollywoodreporter.com/business/digital/netflix-video-podcasts-1236417771/">video podcasts</a>, 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.</p>

<p dir="ltr">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.</p> <p><strong id="docs-internal-guid-c3784e0b-7fff-ea4c-d996-7d3d6b90dbfe"><br></strong>Plus, after <a href="https://www.hollywoodreporter.com/business/business-news/paramount-sheridan-layoffs-warner-bros-1236415267/">turning down</a> Paramount’s latest buyout offer, Warner Bros CEO David Zaslav is <a href="https://www.wsj.com/business/media/warner-bros-continues-to-evaluate-options-amid-swing-to-quarterly-loss-3f9c2074?gaa_at=eafs&gaa_n=AWEtsqckvxVArT-_04KJxy-YdIeFwccJM5do0NjLlhpAIp7lezr0292dLKNICR-Vtlw%3D&gaa_ts=690d2aca&gaa_sig=bhJtinzbwoA00J6PX-CMSWJUZ3tNxNRsCvUYsSrRC89U1sm6P62JCNhb58b2_3UW6zSFBRWO4lSNaVOE1-MSSA%3D%3D">teasing</a> 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.</p>

<p dir="ltr">This week, Eric Deggans talks with Brad Falchuk about his Netflix series Famous Last Words. The longtime Ryan Murphy collaborator talks about <a href="https://www.hollywoodreporter.com/tv/tv-news/jane-goodall-famous-last-words-netflix-1236392543/#:~:text=Jane%20Goodall%20'Famous%20Last%20Words'%20Doc%20Gets%20Posthumous%20Release%20on,heard%20only%20after%20their%20death.">adapting</a> a Danish format built around deeply personal conversations that air only after the guests have died. He also explains why working with streamers isn’t so different from his days in cable television, and how living with dyslexia has made him a stronger writer and creative partner.</p> <p><strong> </strong></p> <p dir="ltr">Plus, NBCUniversal has <a href="https://puck.news/taylor-sheridan-is-leaving-paramount-for/">snatched up</a> Taylor Sheridan from Paramount, marking the latest shift in Hollywood’s talent landscape. The Yellowstone creator will start a film deal at NBCU in 2026, with his TV projects following in 2029. His departure comes as Paramount faces layoffs and budget tightening under CEO David Ellison, who has spent heavily on <a href="https://www.hollywoodreporter.com/tv/tv-news/paramount-ufc-rights-latin-america-australia-1236411520/">sports</a> and <a href="https://www.hollywoodreporter.com/tv/tv-news/south-park-paramount-deal-5-years-1236324420/">South Park</a> rights since acquiring the media company. Kim Masters and Matt Belloni dig into how Sheridan’s exit has amplified the growing tension between creative power and studio belt-tightening.</p> <p> </p>

<p dir="ltr">Warner Bros. stock is up after CEO David Zaslav <a href="https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-stock-high-deal-options-paramount-1236406168/">confirmed</a> the company is on the market and open to offers. Following Netflix’s moderate Q3, dragged by an <a href="https://www.hollywoodreporter.com/business/business-news/netflix-stock-q3-earnings-kpop-demon-hunters-merchandise-1236406795/">unexpected</a> Brazilian tax hit, speculation is growing over the streamer’s possible interest in Warners. Netflix co-CEO Ted Sarandos has <a href="https://www.hollywoodreporter.com/business/business-news/netflixs-bidding-warner-bros-discovery-1236406352/">dismissed</a> talk of buying legacy media networks, though the studio and streaming divisions may still be in play. Matt Belloni and Lucas Shaw break down why Netflix might consider a partial acquisition, and what it could mean for Hollywood.</p> <p><strong id="docs-internal-guid-78c14358-7fff-31f1-e340-d3fe337390e3"><br></strong>Plus, Kim Masters talks to Kelly Reichardt about her new film, <em>The Mastermind.</em> The veteran independent filmmaker recalls launching her career by partially financing her first film on credit cards and selling it to a reluctant distributor for a dollar. She shares how Todd Haynes urged her to teach at Bard College, and the years she spent juggling full-time teaching with summer shoots before shifting to part-time. Reichardt also explains why she still insists on theatrical releases especially since she, <a href="https://www.hollywoodreporter.com/movies/movie-news/martin-scorsese-christopher-nolan-launching-filmmaker-mode-tv-setting-1234968/">like other filmmakers</a>, doesn’t care for the way her films look on TV.</p>

<p dir="ltr">This week, Kim Masters talks to Aziz Ansari about his directorial debut, Good Fortune. After his 2022 project Being Mortal was <a href="https://www.hollywoodreporter.com/movies/movie-news/aziz-ansari-being-mortal-suspends-production-1235133233/">shut down</a> following a misconduct complaint involving star Bill Murray, Ansari regrouped. He gathered cast members Seth Rogen and Keke Palmer for a new film and added Keanu Reeves to the mix. He’s filling us in on how he overcame production delays and Reeves’ on-set injury. Plus, he addresses his controversial <a href="https://www.hollywoodreporter.com/tv/tv-news/aziz-ansari-riyadh-comedy-festival-jimmy-kimmel-live-1236396832/">appearance</a> at the Riyadh Comedy Festival.</p> <p dir="ltr">Meanwhile, and also on the topic of accepting Saudi money, producer Erik Feig has <a href="https://www.hollywoodreporter.com/business/business-news/erik-feig-arena-snk-studios-1236400244/">raised</a> roughly $1 billion for his new venture, SNK Studios — funded in part by Saudi Arabia’s crown prince Mohammed bin Salman. The move marks the latest bet on Hollywood by the kingdom and raises questions about the industry’s willingness to overlook human rights concerns in pursuit of capital. Partners in banter Kim Masters and Matt Belloni examine the ethics of doing business with regimes accused of human rights abuses. </p> <p> </p>

<p dir="ltr">This week, Kim Masters speaks with The Road Between Us director Barry Avrich and retired Israeli General Noam Tibon, the latter of whom drove straight into the October 7 massacre to rescue his family. Despite the third-rail nature of anything involving Israel and Gaza, the pair hopes that the documentary can be viewed as a story about family. But politics were inescapable — the film was <a href="https://www.hollywoodreporter.com/movies/movie-news/the-road-between-us-oct-7-movie-toronto-award-2025-1236370364/">pulled</a> from the Toronto Film Festival, reinstated after protests, and then greeted with protests from the other side before going on to win the festival’s People’s Choice documentary prize.</p> <p><strong id="docs-internal-guid-769cbd4e-7fff-f0f0-9828-87ed330ab00a"><br></strong>Plus, as <a href="https://www.kcrw.com/shows/the-business/stories/cbs-news-bari-weiss-late-show-colbert">predicted</a> on <a href="https://www.kcrw.com/shows/the-business/stories/brendan-carr-fcc-comcast">recent episodes</a> of The Business, Paramount has <a href="https://www.hollywoodreporter.com/business/business-news/cbs-news-bari-weiss-paramount-free-press-1236392243/">acquired</a> The Free Press and hired founder Bari Weiss as editor-in-chief of CBS News. Partners in banter Kim Masters and Matt Belloni break down the potential impact on news coverage at the network. </p>

<p dir="ltr">This week, Kim Masters talks with Benny Safdie about <em>The Smashing Machine</em>, his first solo feature since parting ways with his longtime creative partner (and brother) Josh. He recalls the immediate spark he felt when Dwayne Johnson approached him to play UFC fighter Mark Kerr, and why the story fits his ongoing fascination with characters who don’t quite win. He also reflects on his biggest lessons gleaned while working as an actor for luminary filmmakers like Paul Thomas Anderson and Christopher Nolan.</p> <p><strong id="docs-internal-guid-bc1fe558-7fff-6bb6-03db-93fb8ce55253"><br></strong>Speaking of Anderson, the director just scored a career high <a href="https://www.hollywoodreporter.com/movies/movie-news/box-office-one-battle-after-another-paul-thomas-anderson-1236387318/">opening weekend</a> with <em>One Battle After Another</em>. The film has earned universal acclaim among critics and an “A” CinemaScore, but with a reported budget of $140–160 million Warner Bros. faces a steep climb to profitability. After a run of <a href="https://www.hollywoodreporter.com/movies/movie-news/warner-bros-movie-chiefs-michael-de-luca-and-pamela-abdy-1236365062/">surprise hits</a> at the studio, does <em>One Battle After Another</em> carry more value as an awards contender and an “auteur-friendly” statement piece for CEO David Zaslav? Kim Masters and her partner in banter Matt Belloni investigate.</p>

<p dir="ltr">This week, Kim Masters talks to director Mike Figgis about Megadoc, his fly-on-the-wall chronicle of Francis Ford Coppola's self-financed $160 million dream project, Megalopolis. Figgis captures Coppola’s battles on set, including the turmoil that followed when the director’s improvisational style collided with the art department’s meticulous planning — a story Masters <a href="https://www.hollywoodreporter.com/movies/movie-features/francis-ford-coppolas-megalopolis-in-peril-1235284875/">covered</a> with her former colleagues at The Hollywood Reporter. Figgis was there to immortalize it all as it unfolded. </p> <p><strong> </strong></p> <p dir="ltr">Plus, Jimmy Kimmel’s <a href="https://www.hollywoodreporter.com/tv/tv-features/jimmy-kimmel-returns-thanks-supporters-slams-trump-1236378375/">return</a> to late-night (<a href="https://www.hollywoodreporter.com/business/business-news/sinclair-preempt-jimmy-kimmel-live-return-abc-1236377475/">in most markets</a>) was greeted with strong ratings and warm audience reactions. But behind the scenes, the decision to put him on indefinite leave has become another headache for Bob Iger. The Disney CEO, already navigating a difficult chapter, now faces questions about whether the move could leave a lasting mark on his legacy. Kim Masters and her partner in Banter Matt Belloni weigh in on the fallout — including what it might mean for his heir-apparent Dana Walden.</p> <p> </p>

<p dir="ltr">ABC has indefinitely suspended Jimmy Kimmel Live! following pressure from Nexstar and Sinclair, which own affiliated stations across the country. The move comes after Kimmel’s recent <a href="https://www.hollywoodreporter.com/tv/tv-news/fcc-jimmy-kimmel-charlie-kirk-monologue-1236373708/">monologue</a> about the assassination of Charlie Kirk prompted FCC Chairman Brendan Carr to issue a warning to Disney regarding the late-night host’s presence on ABC. What’s next for Kimmel and how has the industry responded to the suspension? Kim Masters and Matt Belloni break down the unfolding story. </p> <p><strong id="docs-internal-guid-f4575123-7fff-de7f-65ce-a67896dfae1c"><br></strong>Plus, we revisit Masters’s conversation with recent Emmy-winner Matt Wolf, director of Pee-wee as Himself. The HBO documentary draws from more than 40 hours of interviews with the late actor Paul Reubens, and Wolf explains how his interest in overlooked artists and forgotten stories led to his portrait of the man behind Pee-wee Herman. He also talks about the actor’s struggle with his sexuality and reveals why HBO pushed for a two-part series to tell the late actor’s story.</p>

<p dir="ltr">The 77th annual Emmy Awards will air this Sunday night (Sept. 14) on CBS and Paramount+ — hosted by a first-timer, comedian Nate Bargatze. Kim Masters is joined by Scott Feinberg, Executive Awards Editor for The Hollywood Reporter, and they’re making predictions. </p> <p dir="ltr">Plus, money wins? Masters and her partner in Banter Matt Belloni unpack the latest Murdoch family lawsuit… And the increasing possibility of a Paramount Skydance purchase of Warner Bros. Discovery.</p> <p> </p>

<p dir="ltr">At 84, veteran mogul John Malone is still a power broker, hinting at “further consolidation in the media industry” following a recent sit down with David Ellison. Should we be on the lookout for a Warner–Paramount merger? Meanwhile in Vegas, the Sphere’s $100 million Wizard of Oz reimagining leans on AI to expand the visuals and even slip in <a href="https://www.hollywoodreporter.com/business/digital/james-dolan-david-zaslav-characters-sphere-wizard-of-oz-1236356200/">cameos</a> of David Zaslav and James Dolan. The Directors Guild did not take kindly to the stunt. Partners in Banter Kim Masters and Matt Belloni pull back the curtain on the Sphere's Emerald City sideshow.</p> <p><strong> </strong></p> <p dir="ltr">Plus, Masters speaks with Runway co-founder Cristóbal Valenzuela about the role of artificial intelligence in Hollywood. The Chilean-born developer acknowledges that AI may lead to some job losses, but he argues it will ultimately benefit filmmakers. He explains why studios including Lionsgate, Netflix, and Disney are already using Runway’s tools. Plus, he compares the current backlash against AI to the upheaval that followed the introduction of sound in film.</p> <p> </p>

<p dir="ltr">It’s official, <em>KPop Demon Hunters</em>’ sing-along screenings were <a href="https://www.cnn.com/2025/08/25/business/kpop-demon-hunters-netflix-box-office">a resounding success</a>. The film about a KPop girl group who also hunt… well, you know… became an immediate global phenomenon via streaming on Netflix when it was released in June. Now that the desire for communal experiences has been made abundantly clear, what will this mean for the franchise going forward? Kim Masters and her partner in Banter Matt Belloni get into it.</p> <p dir="ltr">Plus, in an encore conversation from January, Masters speaks to <em>The Brutalist </em>co-writer & director Brady Corbet and co-writer Mona Fastvold. The pair talk about the seven-year battle to get their post war epic to the big screen. They also explain their audacious decision to make a three and a half hour film with an intermission, share thoughts on the state of the country, and Corbet reveals his thoughts about Trump’s plans to demolish brutalist federal buildings. </p> <p>P.S. Expect to hear much more from Fastvold as the current awards season shapes up, her forthcoming, Amanda Seyfried-led film <em>The Testament of Ann Lee</em> is sure to be on everybody’s lips.</p>

<p dir="ltr">This week on a special episode of The Business, Kim Masters talks with Shrinking co-creator and star Jason Segel, recorded live at KCRW’s Annenberg Performance Studio. Segel looks back on highlights from <em>Freaks and Geeks</em>, <em>Forgetting Sarah Marshall,</em> and <em>The Muppets</em>. He also discusses how <em>Shrinking</em>, now nominated for five Emmys, came together with co-creators Bill Lawrence and Brett Goldstein.</p> <p><strong id="docs-internal-guid-95330dd1-7fff-bdf8-a4f8-49c4d9b20365"><br></strong>Plus, after closing the $8 billion Paramount Global deal with David Ellison’s Skydance, Shari Redstone <a href="https://www.nytimes.com/2025/08/19/business/media/shari-redstone-paramount-trump-settlement.html">tells</a> her story in a New York Times interview: boardroom drama, her doubts about the Ellisons, and the Trump settlement that cleared regulatory hurdles. Matt Belloni and Lucas Shaw dig in.</p>

<p dir="ltr">David Ellison’s Paramount is off to a loud start, rolling out a James Mangold/Timothée Chalamet <a href="https://www.hollywoodreporter.com/movies/movie-news/timothee-chalamet-movie-package-high-side-1236339705/">crime drama</a> and a $7.7 billion, seven year <a href="https://www.hollywoodreporter.com/business/business-news/ufc-to-paramount-plus-under-ellison-pay-per-views-1236341387/">UFC deal</a>. Will the studio’s bold strategies play out as intended? Kim Masters and Matt Belloni break down Paramount’s next act.</p> <p dir="ltr">Plus, Masters talks to documentarian Petra Costa about Apocalypse in the Tropics, a follow-up to her Oscar-nominated 2019 film The Edge of Democracy. What started as a look at Brazil’s COVID response became an investigation into how religious fundamentalism, conspiracy theories and foreign influence have undermined democracy in her home country. She also recounts documenting the rise and fall of Jair Bolsonaro and the risks her crew faced while covering the country’s January 8th attempted coup.</p> <p> </p>

<p dir="ltr">This week, Kim Masters speaks to Severance director and cinematographer, Jessica Lee Gagné. The Quebecois filmmaker reflects on her collaboration with Severance executive producer Ben Stiller, which began on the Showtime limited series Escape at Dannemora. She discusses becoming the first woman to be Emmy-nominated in the same year for both cinematography and directing in a drama series, and the major leap of faith it took to transition from a successful career as a DP into the world of directing. </p> <p><strong id="docs-internal-guid-9a9ba440-7fff-8d08-a986-cb4f24becc12"><br></strong>Plus, Disney is reshaping its sports <a href="https://www.hollywoodreporter.com/business/digital/wwe-events-espn-streaming-service-launch-date-1236338276/">strategy</a>, launching a standalone ESPN app, and making billion-dollar deals with WWE and the NFL. Will the NFL's new stake in ESPN bring scrutiny from the Trump-led DOJ? Also, the Skydance-Paramount deal is done, and the Ellisons may have <a href="https://puck.news/is-new-paramount-owner-david-ellison-after-warners-next/">their sights</a> set on Warner Bros. Kim Masters and Matt Belloni break it all down.</p>

<p dir="ltr">Kim Masters speaks to <em>Platonic</em> co-creators Francesca Delbanco & Nicholas Stoller about what inspired their show about the comedy and complications of grown-up friendships. They talk about the challenge of writing characters—played by Rose Byrne and Seth Rogen—with none of the underlying sexual tension that has propelled so many television comedies to success. They also remember the time that Netflix boss Ted Sarandos sat through a lengthy table read of their first series, <em>Friends from College</em>.</p> <p><strong> </strong></p> <p dir="ltr">Plus, as FCC Chairman Brendan Carr ramps up scrutiny of major media players, Comcast’s NBCUniversal appears to be his latest target. Is the company’s cable spinoff Versant a calculated play to dodge the Trump administration’s media witch hunt? Kim Masters and Lucas Shaw dig in.</p> <p> </p>

<p dir="ltr">[Editor’s note: this segment was taped before <a href="https://www.hollywoodreporter.com/business/business-news/fcc-approves-paramount-skydance-deal-1236310139/">news broke of the FCC approval of the Paramount-Skydance merger</a>.]</p> <p><strong> </strong></p> <p dir="ltr">New details from the ongoing Paramount-Skydance merger reveal a $20 million <a href="https://www.hollywoodreporter.com/business/business-news/trumps-side-deal-owners-paramount-hint-fcc-concessions-1236326287/">agreement</a> to deliver public service announcements for the Trump administration. And following from the <a href="https://www.hollywoodreporter.com/tv/tv-news/jon-stewart-reacts-late-show-stephen-colbert-canceled-1236325193/">cancellation</a> of The Late Show with Stephen Colbert, CBS News braces for potential changes in leadership. Kim Masters and Matt Belloni dive into what’s unfolding behind the scenes.</p> <p><strong id="docs-internal-guid-a09cdb84-7fff-4d99-813f-6d0ce9bd3ddd"><br></strong>Plus, an encore of Eric Deggans’ conversation with Lauren LeFranc about her Emmy nominated HBO mini series, The Penguin. The writer discusses the challenges of adapting a well known comic book villain into a complex, three dimensional character and she shares why her perspective as a woman writing a show about a middle-aged crime boss makes for interesting storytelling. And of course, she talks about the joys of working with Colin Farrell, who is both the star of the show and an involved executive producer.</p>

<p dir="ltr">In the conclusion of Kim Masters’ two-part conversation with Barry Diller, the veteran businessman reflects on his time helping build Rupert Murdoch’s Fox empire. Diller also criticizes studios for spreading misinformation—citing Oliver Stone’s JFK in particular—and weighs in on the now-resolved Trump-Paramount dispute, and the prospect of a David Ellison-led studio.</p> <p><strong id="docs-internal-guid-a20e39a1-7fff-6a61-9e59-4e0b1d977015"><br></strong>Plus, Paramount’s looming merger with Skydance has South Park creators Matt Stone and Trey Parker lawyering up. The duo is eyeing <a href="https://www.hollywoodreporter.com/business/business-news/south-park-skydance-paramount-fight-1236314541/">legal action</a> over billion-dollar licensing deals they claim are being undercut. At the center of it all: South Park’s future on Paramount+. New execs Jeff Shell and David Ellison are feeling the heat; Matt Belloni and Lucas Shaw are on hand to explain what’s at stake.</p>

<p dir="ltr">Kim Masters talks to Barry Diller about his memoir, Who Knew? The legendary studio exec reflects on his quick rise at ABC and how helped transform the third-ranked broadcast network into a force to be reckoned with. He also remembers a much happier time at Paramount, where he presided over a studio staffed with future industry stars. He also opens up about why none of his friends in the business are having much fun these days.</p> <p><strong> </strong></p> <p dir="ltr">Plus, summer movie season is heating up, with F1, Jurassic World: Rebirth, and a highly anticipated Superman reboot staking their claims at the box office. But is there room left for Disney’s big bet with Fantastic Four: First Steps? Kim Masters and Matt Belloni break down the wins and worries shaping Hollywood’s high-stakes summer.</p> <p> </p>

<p dir="ltr">Kim Masters talks to writer & director Larry Charles about his new memoir Comedy Samurai. He shares stories about writing for Seinfeld, directing Curb Your Enthusiasm, and his chaotic experiences working with Sacha Baron Cohen on Borat and Bruno. Charles also tells the story of an early morning call from Ari Emanuel that pulled the plug on his Larry David documentary the day before its HBO premiere.</p> <p><strong> </strong></p> <p dir="ltr">Also, it’s official: Paramount has <a href="https://www.hollywoodreporter.com/business/business-news/cbs-news-settles-lawsuit-trump-kamala-harris-60-minutes-interview-1236123726/">settled</a> with Donald Trump over a long-disputed 60 Minutes segment. The company agreed to pay $16 million, a move that could clear the path for David Ellison’s long-anticipated Skydance <a href="https://deadline.com/2025/07/trump-paramount-skydance-merger-whats-next-1236448358/">merger</a>. Kim Masters and Matt Belloni break down what this means for Paramount’s future… and what an Ellison-led studio might look like.</p> <p> </p>

<p dir="ltr">Eric Deggans chats with veteran sitcom showrunner Phil Rosenthal about the current state of the industry. The creator of Everybody Loves Raymond and host of the unscripted Netflix series Somebody Feed Phil reflects on how studios shape viewership data to fit their narratives. Rosenthal recalls challenging flawed testing at CBS early in his career and he reflects on the success of Raymond. He also shares how he pitched his food and travel series as: “Anthony Bourdain if he was afraid of everything.”  </p> <p><strong> </strong></p> <p dir="ltr">But first, we banter! As the Donald Trump-Paramount Global <a href="https://www.hollywoodreporter.com/business/business-news/paramount-fighting-trump-60-minutes-lawsuit-1236142433/">lawsuit</a> continues, a mediator has <a href="https://deadline.com/2025/06/mediator-donald-trump-cbs-lawsuit-proposes-new-settlement-wsj-1236442886/">floated</a> a proposed settlement: $20 million, including a $17 million donation to Trump’s presidential foundation, plus legal fees and anti-semitism PSAs. Kim Masters and Matt Belloni unpack the latest chapter in the president’s standoff with Shari Redstone.</p> <p> </p>

<p dir="ltr">Disney and Universal sued generative AI company Midjourney last week over claims that the startup plagiarized characters from their movies and shows, such as The Simpsons and Star Wars. After remaining mum on the use of AI in movies and shows so far, studios are getting involved in this debate. But why now? Kim Masters and Matt Belloni break it down.</p> <p><strong> </strong></p> <p dir="ltr">Plus, Masters talks to GLAAD CEO Sarah Kate Ellis about the organization’s 2025 Studio Responsibility Index, which evaluates studios on LGBTQ inclusivity in films. Ellis discusses the rise of mid-budget films as spaces for queer stories and shares why she feels optimistic about the newly elected Pope Leo.</p> <p> </p>

<p dir="ltr">Warner Bros Discovery is breaking into <a href="https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-split-two-streaming-studios-networks-1236259800/">two entities</a>: one dedicated to streaming and studios (HBO, DC, and Warner Bros Pictures) and another for global networks (CNN, TNT, TBS). What does this mean for the future of both divisions and CEO David Zaslav’s standing in Hollywood? Kim Masters and Matt Belloni unpack it all. </p> <p><strong> </strong></p> <p dir="ltr">Plus, Eric Deggans talks with Adam Arkin about his career on both sides of the camera. Arkin shares what it was like executive producing and directing episodes of the second season of Poker Face, and the challenge of preserving the show’s distinctive tone. Plus, as the son of a legendary actor, he gets candid about the enduring nepo baby conversation.</p> <p> </p>

<p dir="ltr">A shareholder revolt is underway at Warner Bros. Discovery… meaning, a 60% <a href="https://www.hollywoodreporter.com/business/business-news/warner-bros-discovery-shareholders-reject-pay-david-zaslav-1236254624/">vote against</a> CEO David Zaslav’s $52 million pay package for 2024. What drove the investor backlash? Meanwhile, Disney is back in <a href="https://www.hollywoodreporter.com/business/business-news/disney-layoffs-1236235249/">layoff mode</a>, with hundreds affected in the latest wave of budget cuts. Kim Masters and Matt Belloni explain what’s behind both moves.</p> <p><strong> </strong></p> <p dir="ltr">Plus, Masters talks to Late Night host Seth Meyers about how his years at SNL both shaped and traumatized him. The comedian also shares how fatherhood has given him plenty of material for his standup specials — Lobby Baby and Dad Man Walking. </p>