THIS WEEK’S BANTER

Merger talks between Paramount Global’s controlling shareholder Shari Redstone and Skydance Media’s CEO David Ellison are reportedly back on. The twist comes one day after billionaire Barry Diller raised his hand as a potential buyer of the legendary studio. Kim Masters and guest Banterer Lucas Shaw of Bloomberg News parse the latest in the saga that’s gripped Hollywood for months. 

Resuming talks? Redstone has entered exclusive negotiations with Ellison of Skydance for the third time. “The first time they didn't end up consummating anything [and] the second time it seemed like they were going to do it and she pulled out at the last minute,” says Lucas Shaw. This offer came out of the blue. “It sounds like they never fully cut off contact,” he says, “and there's been sort of a quiet behind-the-scenes conversation about how to revive this deal over the last couple of weeks.

What about Diller? Meanwhile, 82-year-old billionaire Barry Diller, chairman of Expedia and the digital media firm IAC, has thrown his hat in the ring as a potential buyer. Masters notes that Diller has a long history with Paramount. He ran the company’s film studio decades ago and then tried to buy the company in 2009, ultimately getting outbid by Shari’s father, Sumner Redstone. Masters wonders what Diller’s aims would be with the Paramount, though, she adds, “We don't really know what David Ellison's idea is either.” Shaw sees a similar playbook for both Diller and Ellison: “I feel like they're all kind of going to do some version of the same thing — cut costs, try to reformulate a new streaming strategy, and sell some assets that they don't feel like they need.”

BET for sale? One asset Paramount’s three CEOs may be looking to drop is the BET Media Group. BET CEO Scott Mills, backed by private equity firm CC Capital, has reportedly made an offer of about $1.6 billion.

But wait, there’s more! Get the full scoop on this week’s audio edition of The Banter.

MoviePass: Its rise, fall, and resurrection 

MoviePass allowed card carriers to pay $10/month to see one film per day in theaters, but that business model never turned a profit. The founders — two Black men — got pushed out. Their two replacements ran the company into the ground and got indicted for fraud. A new HBO documentary takes viewers inside the dream to bring people to theaters for cheap, how it went wrong, and where MoviePass is today. 

Co-founder Stacy Spikes tells Madeline Brand and Press Play that he was helping run the Urbanworld Film Festival and wanted to make it a year-round event. 

Filmmaker Richard LaGravenese on his new Netflix rom-com A Family Affair 

Writer-director Richard LaGravenese often explores the pull between the heart and the head in his films. He’s written films across a variety of genres including The Fisher King, The Ref, and The Bridges of Madison County. As a director he’s helmed the films P.S. I Love You and Living Out Loud, among others. His latest directorial effort is the Netflix rom-com A Family Affair which stars Nicole Kidman, Joey King, and Zac Efron. 

LaGravenese tells The Treatment about his passion for showing characters who try to evolve, no matter what stage of life they’re in. He also reflects on how difficult it is now for people in their 20s to make mistakes that won’t follow them for the rest of their lives. And he shares why working with actors is his favorite part of directing.

Hacks co-creators on working with Jean Smart: ‘She wanted to do all her own stunts’

The Business returns with an encore of Kim Masters’ 2021 interview with Paul W. Downs and Jen Statsky, two of the three showrunners behind the award-winning HBO Max series Hacks, which recently finished its third season. Downs and Statsky talk about how lead actress Jean Smart insisted the cameras keep rolling when her husband passed away with a week of shooting remaining for the first season.

Weekend film reviews: Despicable Me 4, MaXXXine, Space Cadet, Beverly Hills Cop: Axel F

It’s Fourth of July weekend and you know what that means: New movies to get you out of that summer heat. This week, Steve Carrell and Kristen Wiig return to voice Gru and Lucy in the beloved animated series Despicable Me 4. In MaXXXine, directed by Ti West, Mia Goth reprises her role as Maxine Minx, an adult film star aiming for Hollywood fame while pursued by the notorious Night Stalker. Emma Roberts stars as Rex in Space Cadet, portraying a party girl turned aspiring astronaut. Lastly, Eddie Murphy makes a nostalgic return as Axel Foley in Beverly Hills Cop: Axel F, joined by Kevin Bacon, and Joseph Gordon-Levitt in this long-awaited sequel.

Film critic Christy Lemire from RogerEbert.com and co-host of Breakfast All Day on YouTube, along with Alonso Duralde, film critic and co-host of the Linoleum Knife movie podcast, weigh in.