Hollywood News Banter

TV Guide magazine executive editor Michael Schneider joins Kim Masters to discuss top entertainment news stories of the week.

- The Weinstein Company is in talks to sell their TV division to British broadcaster ITV to the tune of $950 million. What are they planning to do with all that cash?

- In other studio news, Relativity Media has secured $250 million in financing from VII Peaks Capital. Last year, the studio released eight films, none of which made waves at the box office. Is all this new cash to help with a possible IPO?

Things aren't great at the mass media company Viacom. The company had to take a $785 million write-down as its cable networks like Nickelodeon and MTV continue to under-perform. Part of the problem is viewers are now streaming old shows on Netflix instead of watching reruns on TV.

Furious 7has already made more than $500 million globally. Will there be an eighth film? Yes, without question.