Ankler Agenda

Sean Penn, puffing away inside the Beverly Hilton at the Golden Globes. Kylie Jenner, with a cigarette dangling out of her mouth, on the cover of Vanity Fair. Nurse Dana, taking a drag on The Pitt. Smoking is back — both IRL and on screen — just as Hollywood’s shrinking career ladder leaves many millennials feeling stuck and a stressed-out Gen Z, inheriting the collapse, searches for connection and release. Editor, writer and former pack-a-day smoker Degen Pener joins Elaine Low and Sean McNulty to explain what’s driving young Hollywood workers to light up after talking to young industry workers outside clubs across Los Angeles — and what Gen Xers like him and Sean make of it. Plus, Elaine and Sean debate which generation really has it worse in today’s business — and whether boomers are to blame.
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Silicon Valley was supposed to be satire. In 2026, it plays more like a warning. In a look back on the iconic 2010s HBO comedy, co-creator Mike Judge and exec producer Alec Berg reflect on how “incredibly intentional” they were in making tech startup life feel plausible. But what’s wilder is how close to reality some of their storylines actually got, from AI to the ruthless capitalism of the real-world Silicon Valley. Judge and Berg recall the real-life tech titans who informed the show, the Stanford math professor who helped them construct academically sound dick jokes, and the making of the series' mockumentary-style finale. As Berg puts it: “It’s beyond satire.”
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Casting Taylor Frankie Paul on The Bachelorette was supposed to revive the wilting franchise. Instead, a 2023 video of Paul attacking her ex-boyfriend triggered the meltdown of not one, but two of Disney’s biggest reality shows. Paul’s season of The Bachelorette is now sitting on a shelf, and production on The Secret Lives of Mormon Wives — where Paul is a central character — is paused indefinitely. The Ringer’s Juliet Litman, host of the popular Bachelor Party pod, joins Elaine Low, Natalie Jarvey and Sean McNulty to break down how the Paul catastrophe is reshaping the franchise, its fandom and the show’s future prospects. Plus, Lesley Goldberg stops by to unpack Netflix’s new bigger buying spree — and why sources say the streamer may be experiencing a case of “prestige envy.”
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Here’s the irony: Even in the age of streaming, about 85 percent of profits from a merged Paramount Skydance–Warner Bros. Discovery still would come from linear TV, as Sean McNulty points out.

So what do you do with more than two dozen aging cable networks? Spin them off, reinvent them as digital brands or send them to TV’s great dead-brand graveyard in the sky — all while Wall Street watches with a serious stink eye?

Enter March Sadness. Sean, Elaine Low and Natalie Jarvey build a bracket to crown the most valuable Warnermount cable asset, with CNN, HGTV, Nickelodeon, BET and more going head-to-head. Which properties are the No. 1 seeds, and which networks are… MTV2? The answers (and the ratings) might surprise you.
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“It’s a crazy irony that your reward for incredible artistic success in modern Hollywood is that you then get to lay off a bunch of your employees,” Prestige Junkie host Katey Rich tells Elaine Low, Sean McNulty and Natalie Jarvey in the run-up to Sunday’s Oscars, where two Warner Bros. films — Sinners and One Battle After Another — are going head-to-head for best picture right as Paramount Skydance is about to swallow the studio whole. “It really couldn’t be a more perfect metaphor for how backward so many of the industry’s priorities are.”

Speaking of which, The Business of Television author and former head of business affairs at Paramount TV and Amazon Studios, Ken Basin, stops by to chat about the current state of dealmaking in television, how much the Paramount-Warner merger is going to weigh on day-to-day business (“Warners is effectively frozen”), and what Netflix should do with its $2.8 billion breakup fee.
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