Hollywood goes to Washington for a tax break

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.