studio

Warner Bros. Discovery’s impending sale has rattled Hollywood — and the company’s balance sheet as the auction’s high costs increasingly come into focus.

The New York-based media company released its first-quarter earnings Wednesday, which included a $2.9 billion loss. That amount includes $1.3 billion in restructuring expenses, including updated valuations for Warner’s declining linear cable television networks.

Contributing to the net loss was the $2.8 billion termination fee paid to Netflix in late February when the streaming giant bowed out of the bidding for Warner. The auction winner, Paramount Skydance, covered the payment to Netflix but Warner still must carry the obligation on its balance sheet in case the Paramount takeover falls apart. Should that happen, Warner would have to reimburse Paramount.

Warner also spent another $100 million to run the auction and prepare for the upcoming transaction, according to its regulatory filing.

“As we prepare for our next chapter, our focus remains on executing our key strategic priorities: scaling HBO Max globally, returning our Studios to industry leadership, and optimizing our Global Linear Networks,” Warner Bros. Discovery leaders said Wednesday in a letter to shareholders.

Warner generated $8.9 billion in revenue, a 3% decline from the same quarter one year ago, excluding the effect of foreign exchange rate fluctuations.

Its streaming services, including HBO Max, notched milestones in the quarter and 9% revenue growth to $2.9 billion. The company launched HBO Max in Germany, Italy, Britain and Ireland during the quarter.

Advertising revenue for streaming was up 20% compared to the first quarter of 2025.

The streaming unit posted a 17% increase to $438 million in adjusted earnings before interest, taxes, depreciation and amortization (EBITDA).

Warner’s studios, primarily its TV business, had a strong quarter.

Studios revenue rose 31% to $3.1 billion, compared to the prior year quarter.

Television revenue soared 58% (excluding exchange rate fluctuations) due to increased program licensing fees to support the launch of HBO Max in international markets. Those launches also propelled the movie studio, which saw revenue increase 21%.

Video games revenue declined 30% because of lower library revenues.

Adjusted EBITDA for the studios grew $516 million (158%) to $775 million compared to the prior year quarter.

The company’s vast linear television networks saw revenue fall 9% to $4.4 billion compared to the prior year period.

TV distribution revenue tumbled 8% largely due to a 10% decrease in domestic linear pay TV subscribers.

The company also felt the loss of its NBA contract for its TNT channel, which NBC picked up. Advertising revenue fell 12%. “The absence of the NBA negatively impacted the year-over-year growth rate,” Warner said.

As the costs of the merger with Paramount come into clearer focus, the opposition has grown louder.

More than 4,000 artists and entertainment industry workers, including Bryan Cranston, Noah Wyle, Kristen Stewart and Jane Fonda, have signed an open letter warning about the dangers of the merger with Paramount. “This transaction would further consolidate an already concentrated media landscape, reducing competition at a moment when our industries — and the audiences we serve — can least afford it,” according to the letter.

“The result will be fewer opportunities for creators, fewer jobs across the production ecosystem, higher costs, and less choice for audiences in the United States and around the world.”

Adjusted EBITDA for the television networks fell 10% to $1.6 billion, compared to the prior year quarter.

Warner ended the quarter with $3.3 billion in cash on hand and $33.4 billion of gross debt.

SAG-AFTRA and the Alliance of Motion Picture and Television Producers have landed on a new tentative contract.

The actors union’s new agreement with the trade group that negotiates with Hollywood unions on behalf of the major studios will reportedly improve AI protections and boost the guild’s pension fund. Similar to the pact the Writers Guild reached with the studios last month, SAG-AFTRA’s contract will last four years instead of the usual three.

SAG-AFTRA confirmed the tentative deal on Saturday. The union said in a statement that “specific details will not be released” until the SAG-AFTRA National Board reviews its terms.

The contract is set to cover workers who are involved in motion pictures, scripted primetime dramatic television, streaming content and new media.

The actors union began negotiations with the studios in February and extended those talks in March, but paused to allow the AMPTP to finish negotiations with the writers union. Negotiations resumed April 27 and ended May 2.

The tentative contract still needs to be voted on by its members — SAG-AFTRA represents more than 160,000 actors, broadcast journalists, dancers, DJs, stunt performers, voice-over artists and other entertainment professionals.

The union’s current contract is set to expire June 30. SAG-AFTRA joins WGA as the latest Hollywood union to strike a deal with the studios.

The Directors Guild of America is the last union that still needs to reach an agreement with the studios. Negotiation sessions with AMPTP will begin on May 11, as its contract is set to expire on June 30.

Members of the Writers Guild of America have officially ratified their newest contract with the Alliance of Motion Picture and Television Producers.

More than 90% of the 11,000 voting members in both WGA East and West registered their support of the new agreement. The voting period closed Friday at noon, after the union first struck a tentative deal earlier this month.

The new contract includes a robust healthcare plan in which studios pay over $320 million to sustain the health fund, higher residual rates — including a provision for a “success bonus” for the most popular streaming shows from 50% of the base residual to 75% — and language on the licensing of work for AI training.

“The first reaction [from members] was relief that we were not going to be going into a period of labor strife or strike authorization vote, in the midst of this contraction,” said John August, the co-chair of WGA’s negotiating committee, referring to the ongoing challenges in the industry. “Members want to work, and they want to get back to doing their job.”

Negotiations between the union and film and TV studios began in March, as the union’s current contract expires May 1. August said that, at the beginning of the negotiations, expanding the healthcare plan was a top priority. The union was able to secure increases that would raise the cap that companies pay to as high as $400,000 by 2028.

Union officials say the current cap has remained unchanged for two decades as healthcare contributions have steadily declined because there are fewer working writers.

But under the new contract, members would, for the first time, have to start contributing to their healthcare costs to the tune of $75 per month. The earnings threshold to get coverage would increase by about $7,000 to $53,773, leaving many members concerned about the higher cost.

“This is all difficult. Healthcare in America is not a good situation. But we were really mindful, as we always are, of trying to make sure the career of writing is sustainable,” negotiating committee co-chair Danielle Sanchez-Witzel said.

Additionally, the contract terms have been extended from the WGA’s usual three years to four — though it is not the first time the guild has added more time to its deal with the studios. Sanchez-Witzel clarified that the four-year period for the new contract ”is, by no means, a standard. This is just what we needed this year and what we agreed to for this cycle.”

“We were here in 2026 trying to get some things that we didn’t get earlier [in previous negotiation cycles] and happy for the progress we made,” she said.

The WGA is the first of the Hollywood unions to strike a deal with the studios. AMPTP congratulated the WGA on the ratification in a statement released shortly after the vote totals were announced.

“This deal reflects a collaborative approach that supports both writers and the industry’s long-term stability,” AMPTP said.

SAG-AFTRA and the Directors Guild of America still need to negotiate new contracts.

The actors’ union began its negotiations in February and extended those talks in March, but paused to allow AMPTP to finish its deal with the writers’ union. SAG-AFTRA’s and the DGA’s contracts expire June 30.

Streaming entertainment giant Netflix is in negotiations to buy the historic Radford Studio Center lot in Studio City.

Netflix plans to purchase the Los Angeles studio that has been home to generations of landmark television shows, including “Gunsmoke” and “Seinfeld,” according to two people with knowledge of the pending deal who were not authorized to speak about it publicly.

The studio’s previous operator, Hackman Capital Partners, defaulted on a $1.1-billion mortgage in January. Investment bank Goldman Sachs took over the property and is in talks with Netflix to sell it for between $330 million and $400 million.

Representatives for Hackman and Netflix declined to comment on the planned sale.

Culver City-based Hackman Capital Partners and Square Mile Capital Management teamed up to buy the Radford Avenue property from ViacomCBS in 2021 with a winning bid of $1.85 billion, after a competitive battle for the 55-acre studio beloved by the television industry.

At the time, the staggering price tag underscored the value — and scarcity — of TV soundstages in Los Angeles as content producers scrambled for space to shoot TV shows and movies to stock their streaming services. It was one of the largest-ever real estate transactions for a TV studio complex in Los Angeles.

Since then, production has substantially declined in Southern California. L.A. continues to battle the loss of production to other states and countries, as well as the lingering effects on the industry of the pandemic and the 2023 dual writers’ and actors’ strikes. Cutbacks in spending at the major studios after a surge in streaming-fueled TV production have further damped film activity in the region.

Founded by silent film comedy legend Mack Sennett in 1928, the lot became known as “Hit City” in the decades after World War II as popular TV shows such as “Leave It to Beaver,” “Gilligan’s Island,” “The Mary Tyler Moore Show,” “The Bob Newhart Show” and “Will & Grace” were made there. The storied lot gave the Studio City neighborhood its name,

Netflix, which has a market cap of about $455 billion — more than double that of Walt Disney Co. — has maintained its dominance in the global streaming business with more than 325 million subscribers.

The Los Gatos-based company has production offices worldwide, including facilities in Albuquerque, Brooklyn, London, Madrid and Toronto.

Netflix had secured an $82.7-billion deal to buy Warner Bros. studios and streaming services in December, but withdrew from the bidding war in late February after Paramount Skydance offered $31 a share. As part of the switch, Netflix was paid a $2.8-billion termination fee.

ROBBIE WILLIAMS could be getting back in the studio — this time with boyband Blue.

It comes after Rob wrote the lads’ new single Flowers, which is on the setlist for the UK leg of their 25th Anniversary world tour.

Biz on Sunday’s Emily caught up with Blue members
Antony Costa, Simon Webbe, Lee Ryan, and Duncan James at the Eventim Apollo in Hammersmith, West London, this week.

The band are on their milestone tour following the release of seventh studio album Reflections.

Antony said: “We would love to work with Robbie’s people and that is the conversation that is happening.

“Karl Brazil (Robbie’s music director) is very much on our side.

read more on robbie williams

no regrets

Robbie Williams hits back at ‘bully’ podcast host after he’s branded a ‘redcoat’

READY TEDDY GO

‘Incredibly proud’ Robbie Williams says daughter Teddy is set for stardom

“He is championing Blue and us and the lads have spoken to Karl separately and together.

“You never know, watch this space.”

Antony revealed that Robbie reached out to the band after watching their story on the BBC documentary Boybands Forever.

He said: “It resonated with him because we were all young and he was a young lad in Take That.

“Take That went on a different journey than us, but we still wanted that same goal.

“Robbie has always been there and he’s been a big supporter of me and the boys.”

Duncan said: “We’re so lucky that after 25 years we’re still getting to sell out gigs, still touring around the world and we’ve got the adoration from the fans.

“We’ve had the nod from Robbie to write that song for us, so it’s almost like the industry is opening the door again and we’re feeling the love.”

Of their new hit Flowers, Duncan added: “A lot of people have said it sounds like a Robbie song as well.”

Blue are one of the few bands still touring with an original line-up.

Simon said: “One of the reasons we have stood the test of time is all four of us wanted to be in a boyband.

“Most are full of members who want to be solo artists but weren’t good enough.

“So all of a sudden you’ve got egos.

“We don’t understand why bands argue or why they don’t get on because when you’re a team, you’re a team player.”

The boys are playing at London’s Royal Hospital Chelsea on June 11.

I will get my prosecco and picnic blanket ready.

Tickets are on sale at myticket.co.uk.

Meanwhile, the band revealed Ellie Goulding got them to perform at her 70s-themed baby shower in January, ahead of the birth of her daughter Iris.

The boys sang their 2002 track One Love with Ellie.

Duncan added: “We didn’t realise she was a big fan of our music.”

SAM THOMPSON is stepping down from his role on Love Island: Aftersun.

The 2023 I’m A Celeb winner has been a panel regular on the spin-off since his stint in the jungle.

But an insider revealed: “Sam’s schedule is jam-packed and producers are going in a different direction so there’ll be a bit of a shake-up on Aftersun.

“ITV is really keen on harnessing new talent, especially plucking from its pool of influencers and TikTokkers to boost ratings.

“Sam may well return as a guest, but he won’t be a regular.”

A spokeswoman for Sam said: “He absolutely loved his time as part of the Love Island team and the show will always have a special place in his heart.”

NOEL SHOWS HIS SCENTS OF STYLE

NOEL GALLAGHER might have a thing for cigarettes and alcohol – but he also likes more refined smells, too.

The Oasis great shares the same taste in scent as suave Thirties and Forties playwright and composer Noel Coward.

He visited bespoke perfumer Azzi Glasser at her London studio.

Azzi, who has created scents for Kylie Minogue, Tom Hardy And Jude Law, charges £1,500 for a “fragrance workshop” to create a one-off scent to match your personality.

Noel spent £400 on candles and chose Vetiver scent by Floris London – favoured by Noel Coward.

Azzi revealed that Noel is also a fan of her £259 Mystere Vetivert.

She said: “It smells like you’re wearing a million dollars.”

IS THAT MADGE? CORSET IS

MADONNA returned to Coachella in the same jacket and corset she performed in 20 years ago as she joined Sabrina Carpenter for her headline set on Friday.

The sparkling duo performed the Queen of Pop’s hits Vogue and Like A Prayer before launching into a new song, I Feel So Free, from Madonna’s long-rumoured new album, Confessions II, set for release on July 3.

Madonna was delighted to stand four inches taller than Sabrina, who is just under 5ft.

She told the crowd: “The other thrilling thing I need to point out to everybody right now is this is probably the first time I’ve ever performed with someone who’s shorter than me.

“So, thank you for giving me that experience.”

In response, Sabrina shouted, “Amen!”.

Cute as a button.

’ROACHES ROLLING OUT AGAIN?

ROLLING STONES fans reckon there could be live dates on the horizon under their alias, The Cockroaches.

Rumours started after the rockers updated their website to include a poster of a 1977 surprise gig at El Mocambo Club in Toronto, attended by Princess Margaret , which was billed as a gig by The Cockroaches.

Keith Richards also posted a cryptic comment saying: “Great fun though huh?

A good rhythm section, a couple of mates, where else can you go.”

A source said: “There is a lot of buzz about this as next year it will be 50 years since the Stones last played live as The Cockroaches.”

TALIA MAR is hoping to work with DJ Sigala again.

The pair collaborated on 2022 dance track Stay The Night.

Asked if she would like to work with him this year, Talia told me: “Oh my God, yes. I was talking to him the other day. He is summer. I was like, ‘Can we get some new music please, because it is summer?’.”

Talia who has released new track Lady, will play at London’s Courtyard Theatre on May 16.

She said: “I want it to be really casual, I don’t want it to be glitz and glamour.

“Stripping it down is a really lovely moment.”

TIM’S CHILL TIME DOWN TO A TEE

TIMOTHEE CHALAMET has been enjoying some chill-out time on the beach.

After watching Justin Bieber at Coachella with his girlfriend Kylie Jenner last weekend, he headed for Miami to relax.

The Marty Supreme actor paid homage to his movie with a “Supreme” Wu-Tang Clan tee.

Tim was later seen catching some rays shirtless and sipping on a Coke.
Lovely.

AFTER the whirlwind success of No1 hit Stick Season, Noah Kahan didn’t rush back into the studio.

In fact, he stopped completely. Facing writer’s block and still processing everything that had happened, he stepped away for six months, forced to rethink not just the music, but what success meant.

His 2022 album Stick Season — rooted in Vermont and exploring mental health, identity and small-town life — transformed the singer from a cult folk artist into a global name.

Topping the charts in the UK, the record was also certified multi-platinum in the US, where it sold over four million copies and had billions of global streams.

Kahan was nominated for a Grammy for Best New Artist and the emotionally raw, nostalgic and deeply personal record was widely seen as one of the defining albums of the decade.

“I just couldn’t write for a while,” he confesses. “When I first got off the road, I didn’t make any music in a long time.

speaking out

Victoria Beckham breaks silence on Brooklyn feud for first time

BAY BEAUTY

Iconic Baywatch star signs up to reboot alongside Brooks Nader and Livvy Dunne

“I spent months not doing anything and it was painful because I like to be busy.

“It took so much strength for me to push that feeling away.

“I’m aware of how rare the moment was, how big the moment was and how lucky and fortunate I was, but my whole life I was trying to prove to people that I had a place here. So when the huge moment was happening, instead of being like, ‘Yeah, I made it’, I was like, ‘Oh my god, how am I going to stay here?’.”

That pressure quickly took its toll. Kahan said: “Writer’s block is such a lonely feeling — it makes you feel like your value’s been taken away. I felt completely unable to open up about it, but I ended up reaching out to friends.

“Marcus Mumford really helped. He understood what it’s like to be under a lot of pressure and afraid of failing and gave me great advice.”

Kahan also had to redefine success. It was not chasing numbers — just being able to make music was enough.

He says: “I learned the hard way about burnout. Success is a double-edged sword. I’ve always said if I had any, or if my tour sells out, I’d be happy. But the second it sells out, you’re looking at the next thing to achieve.

“Starting off this new album was really scary. I had to realise I didn’t need to be the biggest artist in the world or where Stick Season took me. I didn’t need to be successful to be loved.”

Kahan is in London for a few days to promote The Great Divide, his fourth studio album, which is out next Friday.

Taking time off to reset both mentally and emotionally was essential to writing again.

“I’ve struggled with my mental health,” he says candidly.

“But I was struggling more than anybody knew. I’ve struggled with anxiety, depression and body dysmorphia, but it was the OCD that I hadn’t figured out.

“I was diagnosed with OCD last year. It’s not about washing my hands a thousand times — it’s obsessive thinking. I was struggling with a lot of self-esteem and confidence issues, but I’d never dealt with anything so acutely like OCD. I’m supposed to be the singer who’s open about his mental health, but I felt so much shame.

“I needed medical intervention and therapy, and I didn’t want to be open about that because I was afraid. It was frightening as I’d been stripped of

this thing I loved.

“I couldn’t express myself through music any more, and so I didn’t tell anybody and it came to a breaking point.”
Through help and time, Kahan started to recognise his disorder in ways he hadn’t before.

“Now I wake up knowing my day is not going to be decided by what I see on my phone,” he says when discussing how therapy has helped him.

“Before, I’d have 700 brilliant words of praise, but it would be the one negative word that would shatter me. For a long time, I thought I was crazy.”

In August 2025, Kahan married his longtime partner Brenna Nolan, bringing a new sense of stability to his life.

The singer has also made a Netflix documentary — Noah Kahan: Out Of Body. It captures this difficult period, which he sees as part of his healing.

He says: “Making the film was a strange but amazing process. Having people follow you around took time to get used to, but they captured a really honest moment for me. Watching it back with my family was emotional. It showed how we really are.

“It was hard seeing how unhappy I was then, but in the end, it told a beautiful story.”

He adds: “My family are on the new record. I love the song American Cars. It’s about my sister.

“Whenever things were tough at home, she’d drive up from New York in a rental car, sunglasses on, just a total badass.

“She’s a surgeon, she just gets things done. She’d come back and help us through it, and the song came from that. Like, you need to come home and help fix this.”

The Great Divide is an album about friendship, miscommunication, regret and personal growth, and the title track became the guiding, emotional “north star” of the record.

He says: “Yeah, The Great Divide is really about a friendship that didn’t work out — one where I wasn’t able to express myself.

“And then there’s a song, Dan, which is about the opposite — being open, telling each other how much you care, facing hard truths. It ends in a way that really encapsulates the whole record. It’s probably my favourite song we made.

“There are a lot of stories,” he adds.

“It’s very emblematic of my childhood and a lot of people’s, young men in particular. Talking about feelings or asking difficult questions can feel like more discomfort than it’s worth, but the consequence is you don’t really know someone as well as you think you do.”

It’s an expansive album with 17 tracks, including the gorgeous We Go Way Back, Willing And Able, Haircut and Porch Light.

He adds: “I can’t wait to see crowds singing back Willing And Able, and Haircut started from that idea of someone coming back to town changed — like they’ve outgrown it. I felt like I’d become that person, only going home for inspiration instead of really being there.

“The song is almost someone singing to me, saying, I’m glad you’ve figured things out, but at least I’m still here and still real. You’ll leave again, and we’ll still be here. That’s what it’s about.

“Then, Porch Light is really about my biggest fear — how I’ve changed.

“I worry about going home and feeling like people see me differently, like I’ve become this ‘Hollywood’ version of myself, too big for where I’m from. That my relationship with Vermont has been changed by success and leaving Vermont for Nashville.

“But my family has always kept me grounded. They’re so happy for me. I wanted to write about that fear you have in your head before you even pick up the phone.

“You’re always anticipating what people might think. But there’s a silver lining in Porch Light. It’s about people saying, ‘We still care about you, we’ll still be here — but you need to figure things out first’.”

And that sense of place runs throughout the album.

“Yeah, the first and last songs really frame the album — I wanted them to feel like an intro and an outro,” Kahan says.

“The first track, End Of August, is this big, building track about that time of year in Vermont . . . It’s that moment when the tourists leave and the people who live there can finally come out of hibernation — like, ‘They’re gone’.”

He’s been working with Stick Season collaborator Gabe Simon, The National’s Aaron Dessner — best known for his work with Taylor Swift, Bon Iver and, more recently, Gracie Abrams — plus Ed Sheeran and Mumford & Sons.

Kahan says: “Gabe and I are really close — we went through a lot making Stick Season, so on this album we leaned on each other. He’s like a brother and the perfect person to go through this with.”

Aaron Dessner brought calm, structure and creative balance to the process.

“Aaron came in early on, but I was intimidated at first,” admits Kahan. “I looked him up on Wikipedia and was terrified of his success. This guy’s a legend.

“This was where Taylor Swift writes and Justin Vernon (Bon Iver), who works with Aaron, is my hero. Aaron has a magic to his music — a real understanding of what an artist is trying to say. But he’s a sweet, calm man who lives a very humble life in upstate New York on a farm.

“I needed him to stabilise me creatively. He is regimented in how he makes music and I need a routine. He is an amazing producer and this album sounds so f*****g cool because of what Aaron did.”

The sound on the new album is more expansive than Kahan’s earlier music and includes horns, guitar and richer production.

He says: “Honing on a sound and a theme started the process. Aaron’s place had dirt bikes, fishing rods and skeet shooting — all the things that I grew up doing.

“We couldn’t make the music in Vermont this time and the setting was really important, feeling connected to nature and beauty.

“It’s hard for me to make music in a city. Whenever I’m in a city, all I write is, ‘Get me out of the city’ songs.”

He adds: “We were also still in the middle of touring and I was over the Stick Season songs.

“There’s a lot of electric guitar on the new record, and bouzouki and mandocello, instruments we haven’t really used before. It’s a new confidence, but having spent three years on the road, I just want to make music that’s exciting to play live.”

It’s the connection with his audience that remains key.

He says: “I love it when I see fans singing back my songs as it means they’re feeling it.

“I’m always honoured when someone says my music has helped them to reach out for help. Though it can be overwhelming when people tell me they’re struggling with difficult thoughts.

“I don’t always feel equipped to handle that and I worry I’m not helping in the way they need. It’s hard when you feel you’re letting someone down.”

Now, his attention is focused on bringing the album to the stage.

He says: “I’m looking forward to playing these new songs. This record tells a story, so we’re working on the stage design, setlist and lighting to tell that story. We’re playing stadiums now, but I want fans to still have an intimate experience.”

Kahan returns to historic Boston baseball stadium Fenway Park, the home of the Boston Red Sox, for four nights this July.

He will also be back in the UK, including three nights at London’s O2 in November.

He says: “I’m excited about those dates, but my dream is to play Stamford Bridge.

“It’s my favourite sport and I love Chelsea FC. But I was told you can’t play there. I’ve achieved so much already, but that is my ultimate dream.”

• The Great Divide album is out next Friday, April 24.

NOAH KAHAN – The Great Divide

★★★★★

It turns out the “Spaceballs” sequel won’t be called “Spaceballs 2: The Search for More Money” after all.

Mel Brooks beamed into Amazon MGM Studios’ CinemaCon presentation to set the record straight via a pre-taped video Wednesday. The follow-up to his 1987 film set in a galaxy very, very, very, very far away is actually titled “Spaceballs: The New One.”

“After all these years, I found the money,” the comedy icon explains as he waves toward a duffel bag overflowing with “Spaceballs” money. “But everywhere I go people say, ‘Mel, Mel, where’s the new “Spaceballs”? When are you going to make the new “Spaceballs”? When are you going to make the new one?’”

“Well, we did it, and the title is ‘Spaceballs: The New One,’” Brooks continues. “It’s just like the old one, but it’s newer.”

While details about “The New One’s” story remain under wraps, the studio did offer attendees a glimpse of the film with a new trailer that pokes fun at the current state of the industry. A voice-over declares Hollywood studios are “merging willy-nilly” as images of the Paramount and Warner Bros. signs appeared on screen — before noting that the merger between Amazon and MGM Studios is what led to “Spaceballs 2.”

Dark Helmet’s look appears to be updated for the times, as his mask resembles that worn by the “Star Wars” sequel trilogy’s Dark Side warrior Kylo Ren. The trailer also included footage of lightsaber (or Schwartz ring) fights as well a nod to the “Avatar” franchise, with Dark Helmet crossing paths with a Na’vi in the restroom.

“Spaceballs: The New One” is slated to hit theaters April 23, 2027. Here’s everything we know about the sequel so far.

What is “Spaceballs: The New One” about?

According to Amazon MGM’s press release, the film’s story details “are being kept under lock, key and an industrial-strength Schwartz shield.”

Who is in the movie?

Original “Spaceballs” cast members Rick Moranis (Lord Dark Helmet), George Wyner (Colonel Sandurz), Daphne Zuniga (formerly Princess, now Queen Vespa), Bill Pullman (Lone Starr) and Mel Brooks (Yogurt) are confirmed to return for “The New One.” This marks Moranis’ first onscreen film role since taking a hiatus in 1997.

Newcomers include Josh Gad, Keke Palmer, Lewis Pullman and Anthony Carrigan playing new characters who’ve yet to be revealed.

Who are the filmmakers?

“The New One” is directed by Josh Greenbaum (“Barb and Star Go to Vista Del Mar,” “Will & Harper”) from a script written by Josh Gad, Dan Hernandez and Benji Samit (based on characters created by Brooks, Thomas Meehan and Ronny Graham).

Brooks is among the producers of “The New One,” which also includes Brian Grazer and Jeb Brody as well as Gad, Greenbaum and Kevin Salter. Executive producers include Adam Merims, Samit and Hernandez.

Time staff writer Samantha Masunaga contributed to this report.

Sony Pictures Entertainment plans to lay off a few hundred employees globally in a move to restructure its business.

The cuts, announced Tuesday afternoon, are set to affect employees who work across Sony’s film, TV and corporate divisions the company said, declining to specify how many would lose their jobs.

Sony said the cuts reflect a shift in business strategy under its new chief executive, Ravi Ahuja.

“As we lean into those priorities, we need to operate with greater focus, speed, and alignment to strengthen our differentiated capabilities,” said Ahuja in a statement. “To support our growth, we are aligning our organization with where the business is going — not where it has been. That requires changes to how we are structured and where we invest.”

Ahuja, who was promoted just over a year ago, added that the company is ”reducing roles in certain areas while increasing focus and investment in others that are most critical to our future.”

Sony plans to focus on franchise strategy and brand extension with game shows, as well as develop more anime, experiences and invest in content that will connect with a younger audience. This includes more game adaptations and growing its YouTube capabilities.

One of the studio’s biggest franchises is the “Spider-Man” universe, which includes both live-action films starring actors like Tom Holland and the Oscar-winning animated “Spider-Verse” movies. The studio is set to release the latest live-action installment, “Spider-Man: Brand New Day,” this summer. The previous movie “Spider-Man: No Way Home” was a major win for Sony as it generated $1.9B globally.

Sony Pictures operates under its Japanese parent company Sony Group Corp, alongside other subsidiaries like Sony Music Group and Sony Electronics. The film studio was established in 1987 and maintains a strong presence in Culver City.

Recently, the studio acquired the “Peanuts” comic in a $457-million deal, reupped the “Reading Rainbow” for a YouTube audience and is working on PlayStation adaptations for video games like “Helldivers” and “God of War.”

The company has also combined its game-show group with its nonfiction TV department and is slowing down areas of its business that have low growth, like the VFX and virtual production studio, Pixomondo.

The layoffs are the latest to hit Hollywood, which has been hard hit by the exodus of film and TV jobs to other states and countries, a cutback in the number of films being released and media consolidation. Last year, Paramount cut 10% of its workforce after it was acquired by David Ellison’s Skydance Media.

The Writers Guild of America and the Alliance of Motion Picture and Television Producers have reportedly reached a tentative four-year deal for a new contract.

Negotiations between the union and film and TV studios began in March, with union leaders prioritizing more robust healthcare benefits, streaming residuals and protections against the misuse of AI tools.

Puck co-founder and reporter Matt Belloni first reported news of the tentative deal Saturday. The agreement represents a departure from standard practice, adding one more year to the WGA’s usual three-year contract. Additionally, it includes health plan and pension increases, bumps in streaming pay and protections that will police licensing for AI training.

The new contract is still subject to ratification following a vote by union members. The WGA and AMPTP did not immediately respond to requests for comment.

This tentative deal is a promising signal that the Writers Guild could avoid a strike after 2023’s historic work stoppage that lasted 148 days.

Separately, the Writers Guild of America West’s staff union has been on strike since mid-February.

The union’s current contract is set to expire May 1. WGA is the first of the Hollywood unions to reach a deal. SAG-AFTRA and the Directors Guild of America still need to reach an agreement with the studios.

The actors’ union began negotiations with the studios in February and extended those talks in March, but paused in order for the AMPTP to finish negotiations with the writers’ union. SAG-AFTRA and DGA’s contracts each expire June 30.

Even as California’s soundstages suffer from a slowdown in local production, the local economy may get a boost from the state’s expanded film tax credits.

Medical drama “The Pitt,” a “Family Guy” spin-off and a kids’ science competition show from late-night host Jimmy Kimmel are among the 16 shows that received tax credits for filming in the state, the California Film Commission said Wednesday.

In total, the projects represent $871 million in qualified in-state spending and are expected to generate $1.3 billion in economic activity in California. More than 4,500 cast and crew members will be employed across the 16 shows, along with more than 50,000 background actors, the film commission said.

New to this round of awardees are animated shows and competitions, which were added to the film and television tax credit program during its revamp last year. Under the program, producers can receive up to 25% of qualified production expenses back in the form of credits that they can apply toward tax bills they have in the state.

“California’s creative economy isn’t just part of who we are — it helps power this state forward,” Gov. Gavin Newsom said in a statement. “From the folks on the soundstage to the people designing the sets, these are jobs that anchor communities.”

HBO Max’s “The Pitt” received a credit of $24.2 million, while “Stewie,” a spin-off of Seth MacFarlane’s irreverent adult cartoon “Family Guy,” was awarded $6.4 million. Kimmel’s “Schooled!” competition show, which pits young scientists and their experiments against one another, secured $6.9 million.

Since the state’s production incentive program was bolstered last year, more than 100 films and TV projects have received tax credits.

But it has taken a while for those shows to jump-start local production, which has seen a sustained slump since the pandemic, the dual writers’ and actors’ strikes in 2023 and spending cutbacks at the studios.

That lag has affected the business of local soundstages.

For the first half of 2025, the average occupancy rate at Los Angeles County soundstages was 62%, slightly lower than the 63% average recorded in 2024, according to new data from the nonprofit FilmLA, which tracks local production.

Those figures mark a significant decline from the average occupancy rate of 90% seen from 2016 to 2022, according to FilmLA data.

That’s been a problem for local soundstage operators, which had aggressively funded development of new properties or acquired them only to see production slow.

Earlier this year, Hackman Capital Partners said it was turning over the historic Radford Studio Center in Studio City to Goldman Sachs.

Universal Pictures will now keep its new films in theaters for at least five weekends, a reversal from the studio’s previous policy of at least 17 days that was set during the pandemic.

The change takes place immediately, the studio said Thursday. That means it will apply to its newest film, the Colleen Hoover romance “Reminders of Him,” which is out in theaters this weekend. Other upcoming films include Christopher Nolan’s “The Odyssey,” which will be released in July.

“Our windowing strategy has always been designed to evolve with the marketplace, but we firmly believe in the primacy of theatrical exclusivity and working closely with our exhibition partners to support a healthy, sustainable theatrical ecosystem,” Donna Langley, chair of NBCUniversal Entertainment, said in an email to the New York Times, which first reported the news.

Focus Features, Universal Pictures’ specialty film arm, will keep its existing theatrical exclusivity policies, which vary on a case-by-case basis. Chloé Zhao’s “Hamnet,” for instance, was in theaters for 99 days, while 2024’s “Nosferatu” played for 58 days. The minimum is 17 days.

The amount of time films are available exclusively in theaters — known as “windowing” in industry jargon — has become a contentious topic of conversation in Hollywood.

That debate ramped up during the pandemic, when some studios shortened theatrical exclusivity periods in order to move films to release for video on demand or streaming.

Prior to the pandemic, those windows could be as long as 90 days. Now, the average is around 30 days.

Theater owners have argued that shorter windows cut into box office profits and train audiences to wait to watch a movie at home. Distributors have countered that a one-size-fits-all approach doesn’t necessarily work for smaller or mid-budget films, which may find a bigger audience via at-home viewing.

At last year’s CinemaCon trade conference, top theater lobbyist Michael O’Leary called on distributors to establish a minimum 45-day window, arguing there needed to be a “clear, consistent starting point” to set moviegoers’ expectations and affirm commitment to theatrical exclusivity.

The debate has become even more fierce as box office profits still have not recovered from the pandemic. Last year, theatrical revenue in the U.S. and Canada totaled about $8.87 billion, just 1.5% above 2024’s disappointing $8.74-billion tally.