The Business

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Lively banter about entertainment industry news and in-depth interviews with directors, producers, writers and actors, hosted by award-winning journalist Kim Masters of The Hollywood Reporter.

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Kleber Mendonça Filho on ‘The Secret Agent’ and taking a stand

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. Do you love listening to The Business? We want to hear from you! Please take a moment to share your feedback in this survey so we can make your listening experience better. Thank you!

30 min
20 FEB.

Oscar-nominated cinematographer Autumn Durald Arkapaw on ‘Sinners’

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.

30 min
13 FEB.

Palme d’Or winner Jafar Panahi on ‘It Was Just an Accident’ and returning to Iran under legal threat

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.

30 min
6 FEB.

Steamrollers, record breakers, and late surges: Inside the 2026 Oscar nominees

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.

30 min
30 JAN.

Alexandria Stapleton on chronicling the rise and reckoning of Sean Combs

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.

30 min
23 JAN.

Tom Freston on building MTV during cable’s wild west years

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.

32 min
16 JAN.

‘Sentimental Value’ director Joachim Trier is begging Netflix to embrace movie theaters

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.

30 min
14 JAN. · BONUSINNEHÅLL

SPECIAL PREVIEW: Joachim Trier on 'Sentimental Value'

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

5 min

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Kim Masters

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Scott Feinberg

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Matt Belloni

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Rian Johnson

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Ram Bergman

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Kelly Reichardt

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Lively banter about entertainment industry news and in-depth interviews with directors, producers, writers and actors, hosted by award-winning journalist Kim Masters of The Hollywood Reporter.