Kim Masters, host of KCRW’s The Business, breaks down Hollywood's top stories.
Discovery will merge with WarnerMedia, but not right away. That delay makes things difficult
News broke in May that AT&T would be spinning off WarnerMedia to Discovery and that David Zaslav would run the combined media empire, but that deal isn’t closing any time soon. The merger is subject to federal review, which could take a year or more. That leaves WarnerMedia awkwardly situated and without clear leadership in the midst of the streaming wars.
With ‘A Quiet Place Part II,’ the box office begins to bounce back
“ A Quiet Place Part II ” had a strong $57 million opening at theaters over Memorial Day weekend. The performance is especially impressive considering theaters are not yet seating guests at full capacity. Disney’s “Cruella” pulled in $26 million in theaters, but the film was also available to stream for $30 on Disney+, which may have cut into box office potential.
Amazon set to purchase MGM for $8.45 billion
In Hollywood, merger mania continues, this time with a tech twist. Amazon is buying the storied MGM Studios, and the library of 4,000 movies and TV shows that comes with it. The deal says something about how power has shifted in Hollywood — away from the traditional studios and towards the tech companies.
AT&T spins off WarnerMedia to Discovery
The grand experiment that was AT&T’s ownership of WarnerMedia is coming to an end. The phone company will spin off its WarnerMedia assets to the media giant Discovery. That move will put Discovery CEO David Zaslav over WarnerMedia, most likely leaving current WarnerMedia head Jason Kilar without a job.
NBC drops the Golden Globes for 2022 as HFPA remains engulfed in crisis
NBC announced it will not air the Golden Globes in 2022. This follows an LA Times investigation into ethical lapses at the Hollywood Foreign Press Association, the voting body of the Golden Globes. The HFPA came under fire for questionable financial deals as well as for having no Black members in its 87 person group.
Spotlight stays on toxic Hollywood workplaces with LA Times’ ICM report
The LA Times took a deep dive into accusations of workplace misconduct at the talent agency ICM. The array of allegations include at least one instance of sexual assault, plus more standard bullying that has permeated all the major talent agencies in Hollywood. The industry is having a moment of reckoning regarding abusive workplace behavior, but it’s still not clear there will be any real long-term change.
Big Stories in Bite-Sized Form
Kim Masters is the only entertainment reporter I regularly follow. Her voice of reason in this tempest of media blitzes serves as a reminder that there’s still reliable journalists presenting headlines without a bias towards the opinions of shareholders.
KCRW‘s “The Hollywood Breakdown”, hosted by Miss Masters, is always first in my playlist.
Stopped being informative
This show started going downhill when the “ journalists” started wearing their political views on their sleeves, truly reflected the hypocrisy of Hollywood and the liberal hypocrisy that is rampant in the media.
Bitesize and Wonderful
Nice slice of information each week. Perfect to queue between longer podcasts.