The Big Picture | The Ringer

Episode: Paramount Wins Warner Bros. Now What? Plus: ‘Scream 7,’ ‘Heat 2,’ and ‘Nirvanna the Band the Show the Movie’ With Matt Johnson!

Date: February 27, 2026
Host: Sean Fennessey
Guests: Chris Ryan, Amanda Dobbins, Adam Naiman, Matt Johnson

Episode Overview

This episode of The Big Picture unpacks seismic changes in the film business with the completed Paramount-Warner Bros. merger, discusses the state of beloved film franchises ('Scream 7' and 'Heat 2'), and dives into the new comedy ‘Nirvanna the Band the Show the Movie’ with its creator, Matt Johnson. Sean Fennessey is joined by Chris Ryan for industry analysis and franchise talk, Amanda Dobbins and Adam Naiman for a Canadian cinema deep dive, and finally Matt Johnson for an extended creator interview.

Paramount-Warner Bros. Merger: Fallout and Implications

[Timestamp 02:59 – 07:44]

• Netflix Withdraws: Netflix backs out of its $83 billion bid for Warner Bros., paving the way for a merger with Paramount, led by David Ellison and Skydance.
• Industry Reaction:
  • Sean: “There was no good outcome in this sale.” [04:16]
  • Mergers typically shrink creative opportunities, favor synergies over artistry, and enrich only a few.
  • Sean references the Fox-Disney deal as a cautionary tale: “[The Fox-Disney deal] could be significantly worse.” [05:14]
  • Paramount’s success owes partly to political connections making regulatory approval easier.
• Concerns:
  • Greater debt risk; potential creative stagnation.
  • Uncertainty over how Paramount will run Warner Bros., CNN, HBO, and major news outlets (noting CBS's controversial pivot).
  • “We will likely get less with this merger…” [06:09]
• Netflix's Position:
  • Clearly played “the most successful game of chicken in the history of modern media” [06:42]—losing the WB battle, but possibly winning the overall streaming war.
• Call for Listeners: Support movies you care about, stay tuned to recommended industry podcasts for deeper analysis, and expect more coverage as the merger unfolds.

Franchise Updates: ‘Heat 2’ and ‘Scream 7’

With Chris Ryan
[07:44 – 50:00]

‘Heat 2’ News & Speculation

[07:44 – 17:13]

• Christian Bale & Leonardo DiCaprio Cast:
  • Sean: “Christian Bale and Leonardo DiCaprio are going to be in Heat 2.” [07:45]
• Excitement for Star Power:
  • “The presence of two top five actors… should alleviate some of your worries.” [08:48] – Chris
  • Discussion on recasting iconic roles, comparing it to ‘Mad Max: Fury Road’ and Star Wars prequels: “Mad Max: Fury Road is goated. Phantom Menace has a complicated legacy.” [11:40] – Sean
• Speculation:
  • Likely casting: Bale as Vincent Hanna (Al Pacino’s original role), Leo as Neil McCauley (De Niro).
  • Chris argues the Chris (Val Kilmer) storyline could be center stage, speculates on casting dilemmas due to aging/transformation.
  • “It’ll be deeply fascinating to see who they land on for Chris.” [12:34]
• Notes on Bale’s Recent Films: A game of naming his last five, with mixed reviews for his recent projects.
• Level of Anticipation:
  • Sean wonders about “engagement”—avoiding set photos, spoilers.
  • Chris: “I don't know how you make Austin Butler look like Val Kilmer after he has been shot… and gone to another country.” [10:40]

‘Scream 7’ Extended Review

[17:13 – 50:00]

The State of the Franchise & Cast Shake-ups

[17:20 – 21:46]

• Both Melissa Barrera and Jenna Ortega absent:
  • “Specifically, Melissa Barrera expressed support for Palestine… and reportedly the production company… she was fired.” [17:36] – Sean
  • Ortega left due to “scheduling conflict with Wednesday” and after the creative team’s departure. [17:50] – Chris
• “From a movie perspective, it’s really unfortunate to lose both of those actors…” [18:24] – Sean

Scream 7 Critique

[21:46 – 50:00]

• Plot Structure:
  • Sidney Prescott (Neve Campbell) in Indiana, running a coffee shop. The past haunts her with a new Ghostface stalking her daughter. Meta references to earlier franchise sequels (Halloween analogies, returning/revived characters).
• Tone & Filmmaking Critique:
  • “Incredibly flat, incredibly self-serious, borderline looked like a TV show.” [24:53] – Chris
  • Sean echoes: “It has no life. And then that translates into a lot of the performances, especially from Neve Campbell, who was giving a very, very stoic, emotionless…turn as Sidney.” [25:53]
• Kills & Set Pieces:
  • Praises to a couple of kill scenes, including a bar tap moment (“As a Ghostface originalist, I like knife work.” [27:11] – Chris), but laments the lack of creative scares and franchise energy.
• Franchise Fatigue:
  • “It’s a reset inside of a reset…functions as Scream 1.” [21:46] – Sean
  • Discussion of diminished stakes, repetition, overreliance on older characters, and uninspired finale twists.
• True Crime & Tech Themes:
  • “The idea of true crime obsession, and what AI and Deepfakes can do to horror movie storytelling.” [34:40] – Sean
  • Both find the exploration undercooked.

Notable Quotes:

• “They're all like, we're meat puppets, man. We're about to get stabbed to death.” [29:09] – Chris
• “This movie will do really well because they're just slapping Neve Campbell right in the center of the poster.” [30:40] – Sean

Conclusion:

• The hosts are long-time Scream fans, but are let down by ‘Scream 7’—noting the loss of surprise, emotional engagement, and creativity.

Movie Review & Industry Deep-Dive: 'Nirvanna the Band the Show the Movie’

With Amanda Dobbins & Adam Naiman
[50:00 – 1:07:00]

Setting the Stage

• Canadian film directed by Matt Johnson based on the cult web/TV series.
• Amanda’s Reaction: “I had the experience that I haven't had in a long time in theaters where I was laughing… and then random strangers were also laughing.” [52:43]
• Adam explains the context: Toronto’s DIY filmmaking culture, the Rivoli as a comic symbol. “Playing [the Rivoli] means nothing… you would almost have to be trying to not [play there].” [57:06]
• Adam on Canadian film: “The whole idea of local iconography is important to a lot of Toronto filmmakers. Nirvana… doesn’t hide it…” [57:06]

Movie Analysis

• Bromance & Time Travel: Recalls the “deeply personal” and “soulful” aspect beneath the stoner-comedy façade.
• Pop-Culture Layering: 2008 cultural references (notably ‘The Hangover’ gag, Back to the Future time travel logic), true meta-fictional and thematic time-travel.
• On-Your-Feet Comedy: Real locations, street casting, the blend of prewritten and improvisational energy.
• Challenges & Canadian Identity:
  • Adam: “We're recreating Toronto in the image of 2008 and trying to fit into their old clothes… Nirvana is about not making progress and having to escape that progress and disguise it by replicating the camera types and shooting style.” [57:06]

Key Quotes:

• “The stupidity is, like, expertly done. The highest compliment I can pay to this movie is if someone watches and said those guys seem really stupid. I would be like, absolutely.” [59:32] – Adam

• “There’s also something really clever about the time travel quality of the story…2008 is actually not that far away…and that being the inciting incident…I can't remember the last time I laughed so hard in a movie.” [65:50] – Sean

• Scott Pilgrim and ‘Nirvanna’ compared as deep Toronto touchstones.

Extended Interview: Matt Johnson on ‘Nirvanna the Band the Show the Movie’

[1:08:00 – End]

Why Make the Movie?

• Johnson reflects on "gate closing panic"—the fear that creative freedom is fleeting as bigger opportunities arrive post-BlackBerry: “Maybe this is my last chance to make a movie where I make it only with my friends, only in Toronto, and we do whatever we want.” [83:01]

Accessibility & Archetypes

• Claims movie works best on new audiences: “The movie is twice as effective on people who have no idea what's happened before…You know exactly what this is.” [85:24]
• Matt and Jay as adult-children blinking into adulthood, referencing Pinky & the Brain, Calvin & Hobbes as spiritual models.

Comedy, Culture, and Edgelordiness

• Movie as a response to American “movie as religion”: “We are going to speak in the stories of our culture, and that's never going to change.” [91:23]
• Addresses edgelord past and 'taboo-pushing' in youth: “I'm not judgmental of it whatsoever… there's something really magical about taboos.” [106:00]

Filmmaking Process & Legal Fair Use

• All fair use queries handled pre-shoot with in-depth rationales; never been legally challenged: “It's kind of like going back to high school where you need to create a coherent argument as to why you, as a storyteller, need this and only this.” [110:02]

Working in Canada vs. the U.S.

• “Making a movie on another planet…” [118:48] — Matt on shooting Anthony Bourdain film for A24 in the U.S., without his Canadian team.
• Argues success in studio systems hinges on “forming strong relationships with the cast…they are the movie.” [121:01]

What’s Next?

• Interest in Magic the Gathering movie: “That game taught me to read…now I'm making the magic card movie…that's like my Star Wars.” [128:00]

Last Great Thing Seen:

• Documentary Streetwise (about Seattle street kids): "That's probably the last thing I saw where I was like, oh my gosh, this is unbelievable…we were trying to completely steal the aesthetic from it." [129:57]

Notable Quotes & Moments

• “If Michael Mann's got one more bullet in the chamber, it's the Heat one. Right?” [11:54] – Chris Ryan
• “It brings me no joy to say that [Scream 7 is my least favorite] because obviously it's a franchise that I've drawn a lot of enjoyment from.” [24:50] – Chris Ryan
• “I will never be able to do anything like this ever again.” [104:36] – Matt Johnson, on using archival footage for the movie’s time-travel plot.
• “Movie is twice as effective on people who have no idea what's happened before.” [85:24] – Matt Johnson

Segment Timestamps

01:16 – 02:59: Show intro & episode rundown
02:59 – 07:44: Paramount-Warner Bros. merger analysis
07:44 – 17:13: ‘Heat 2’ update & casting speculation
17:13 – 50:00: ‘Scream 7’ review and franchise analysis
50:00 – 1:07:00: ‘Nirvana the Band the Show the Movie’ analysis (Amanda, Adam, Sean)
1:08:00 – End: Matt Johnson interview — creative philosophy, process, industry experience, what’s next

Conclusion

This episode serves as a time capsule of both industry upheaval and the enduring comfort of film fandom. The hosts balance sharp industry critique, nostalgia for formative movies, skepticism about mergers, and enthusiasm for bold independent cinema. Matt Johnson’s segment adds a personal, philosophical capstone on the nature of storytelling, nostalgia, risk, and cultural change—making this episode essential listening for anyone invested in the future (and past) of movies.