The 2024 Emmy nominations are here, with lots of record-breaking nods and surprises to unpack — along with the strategy behind Disney’s acquisition of FX. What does the success of Shōgun and The Bear say about streaming? And does a new Bank of America report on Warner Bros. Discovery suggest… “unbundling”? Kim Masters and Matt Belloni break it down.

Plus, in honor of Shōgun’s 25(!) Emmy nominations, Masters revisits her conversation with creators Justin Marks and Rachel Kondo. The series made history this week with its Emmy nomination for Outstanding Drama, becoming only the second non-English show ever considered. The husband-and-wife creative team talk about how they’ve been granted more control writing for television over feature films, and explain why FX took the risk on their very expensive, and heavily subtitled, period epic.

Kim Masters and Matt Belloni discuss the Paramount-Skydance merger. They also look at CNN’s digital future after the company lays off 100 employees, and weigh in on Kevin Costner’s sad “Horizon” rollout.

Plus, Masters speaks to Muta’Ali, director of the HBO documentary “MoviePass, MovieCrash.” The filmmaker talks about his desire to center the story of the company’s two Black founders, while detailing the complex business dealings that led to MoviePass’s meteoric rise and fall.

Kim Masters and guest Banterer Lucas Shaw of Bloomberg News discuss the latest twist in the Paramount saga: Just after billionaire Barry Diller raised his hand as a potential buyer, the Skydance-Paramount deal is resurrected from the dead.

Plus, Masters returns with an encore of her 2021 interview with Paul W. Downs and Jen Statsky, two of the three showrunners behind the award-winning HBO Max series "Hacks." 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 the first season left.