Ankler Agenda

It wasn’t long ago when studios took the biggest jewels of their fall slates — the Gravitys and Jokers and First Mans — to the Venice Film Festival to kick off awards season and put A-list talent on a gondola. But this year, not so much: The Venice lineup is light on flashy studio premieres — don’t look for Tom Cruise and Digger or Timothée Chalamet and Dune: Part Three or Jeremy Strong and The Social Reckoning — and heavy on indie and international titles. Elaine Low and Sean McNulty talk to Ankler awards editor and Prestige Junkie host Katey Rich about how the studio calculus on festival season has shifted — and how best picture winner One Battle After Another was a canary in the coal mine for this year’s underwhelming slate.

Then: Katey sticks around to talk with Elaine and Natalie Jarvey about the top Emmy storylines — including the Television Academy’s controversial decision to boot major categories from the primetime show (sorry, David Harbour and Dakota Fanning) and why, with the final season of Hacks and prohibitive drama frontrunner The Pitt leading the way, this could be the last stand for HBO Max before the merger.

Also: Elaine and Sean on Donald Trump‘s sudden renewed enthusiasm to bring production back to Hollywood and why there’s actual bipartisan support for federal film and TV tax incentives. Make Hollywood great again?
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Hollywood’s newest talent war isn’t over movie stars. For years, YouTube was treated as a “farm league,” in Ted Sarandos‘ words — a place where talent dreamt of graduating to Hollywood. Now smaller player Netflix is raiding the world’s biggest streamer, scooping up creators, podcasters and personalities who built their audiences on YouTube. And YouTube has had enough. Natalie Jarvey shares her scoop on the millions that Neal Mohan‘s tech giant is throwing down to keep its creators exclusive — and names who’s been offered the cash — in an escalation one dealmaker says reveals that YouTube is “scared shitless.” Natalie joins Elaine Low and Sean McNulty to unpack her fresh reporting on the new creator bidding wars — and debate the bigger question: Which company is actually playing defense?
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So much for détente. California Attorney General Rob Bonta canceled Monday’s planned meeting with Paramount after accusing the company of leaking — and misrepresenting — confidential settlement discussions to the press. “They need to sleep in the bed that they made,” Bonta tells Elaine Low in this bonus episode of Ankler Agenda, blasting Paramount for “playing games” and waging a PR campaign while, he says, losing where it matters: in court.

The rupture comes even as Gov. Gavin Newsom, Los Angeles Mayor Karen Bass, and several Hollywood guilds have all voiced varying degrees of support for getting the two sides to the table. Does that growing pressure change Bonta’s thinking? “Not at all,” he says.

But Bonta also makes clear that the door isn’t permanently shut. He says he’s ready to resume negotiations if Paramount stops the leaks and comes back in good faith — and, for the first time, gets unusually specific about what a deal might require. Forget the chatter about CNN: Bonta says the news network “is not our focus” and that resolving the states’ antitrust concerns would require some portion of Paramount-Warner Bros. Discovery’s combined cable portfolio to be placed under separate ownership.

Bonta also explains why behavioral remedies are a nonstarter, says he hopes Republican attorneys general may still join the case, and dismisses as “meritless” and “silly” a request seeking his correspondence with Mark Ruffalo following backlash over the actor’s criticism of the Paramount deal.
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Hayden Panettiere worked in Hollywood since she was 11 months old, and by the time Heroes made her a household name at 16, she was already navigating the darker side of child stardom. The Wall Street Journal‘s Esther Zuckerman joins Elaine Low to reflect on Panettiere’s life, career and exploitation — including a top NBC exec kissing her on the lips when she was a teenager, and an Oscar winner who exposed himself — and the extreme emotional toll of growing up in front of the camera.

Then, California Attorney General Rob Bonta tells Elaine he is ready to talk to Paramount, a slight shift from his earlier hard-line posture. “Let there be no doubt here, now, or anywhere for any time. It has always been our position that coming to the table is always on the table,” he says, adding, “We prefer to resolve cases in the boardroom instead of the courtroom.”

So what’s stopping them? Bonta accuses Paramount of “playing cute” and mounting a PR campaign instead of offering the structural remedies the state AGs want. He’s equally dismissive of Paramount’s threat to move and request for a $1.9 billion bond: His argument is that Paramount voluntarily agreed to the ticking fee it faces — and now wants California taxpayers to pick up the tab for a problem it created for itself. “It’s revealing the weakness of their position. It looks desperate,” Bonta says. Elaine and Sean McNulty break down her chat with the California AG, as Hollywood guilds plead for resolution and the town lingers in uncertainty.
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“Everyone has dry powder for sports,” Ashley Cullins heard while reporting her recent look at the private equity firms circling Hollywood. It’s a truism Bob Iger and Josh Kushner‘s Thrive Capital proved, buying the Los Angeles Lakers for $12.5 billion. But sports is only part of the story. With billions in undeployed capital sitting on the sidelines, where else is private equity looking to spend — and what kinds of Hollywood companies still look attractive amid lofty valuations, delayed exits and fears of an AI bubble? Ashley joins Elaine Low and Sean McNulty to break down the biggest players, the sectors they’re chasing and the deals that could come next — plus the bigger question hanging over all of it: Is private equity actually good for Hollywood?

Plus: David Ellison turns up the pressure in the Paramount-Warner Bros. Discovery fight, threatening to move the company out of California as Rob Bonta calls it “blackmail” — even as both sides signal there may still be a path to a negotiated settlement.
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