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The Town with Matthew Belloni

Why Iger Gave OpenAI the Keys to Disney’s Vault

The Town with Matthew Belloni

The Ringer

Society & Culture

4.31.1K Ratings

🗓️ 16 December 2025

⏱️ 32 minutes

🧾️ Download transcript

Summary

Matt is joined by Bloomberg’s Lucas Shaw to discuss Disney entering a licensing agreement with Sora and investing $1 billion in OpenAI. The deal allows OpenAI to use characters from Disney’s deep pocket of popular IP in its Sora AI video generator. They break down the details of the deal, why Disney did it, how CEO Bob Iger handled the announcement, whether other companies will follow suit, and what this means for the long-term tension between Hollywood and AI (03:12). Matt finishes the show with a prediction about Timothée Chalamet’s press tour and Oscar chances (26:25). For a 20 percent discount on Matt’s Hollywood insider newsletter, ‘What I’m Hearing ...,’ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠click here⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠. Email us your thoughts! ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠thetown@spotify.com⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ Host: Matt Belloni Guest: Lucas Shaw Producers: Craig Horlbeck and Jessie Lopez Theme Song: Devon Renaldo Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

If you care about Hollywood, and I assume you do if you're listening to the town, you should really be getting the whole story about Hollywood. That's what you get with Puck. I'm a founding partner at Puck, and I write a newsletter called What I'm Hearing. It's got exclusive news for insiders and analysis of the biggest stories. Puck has a bunch of great journalists. We just hired Kim Masters, who also covers Hollywood from the inside, plus media, sports, fashion,

0:21.7

politics, and finance. It's a must-have for plugged-in people. Fans of the town get a

0:26.6

discount on the description page of this episode or at puck.news slash the town. Go further into

0:32.1

Hollywood by becoming a puck member today. This festive season of McDonald's

0:36.8

gets rich deals every day. Okay, okay. With a sausage sandwich for just... Let's see, 9 and MP. member today. 18 plus app only ends 24th of December 1 use per offer fees apply to delivery participation varies

0:54.5

Tease and Cs apply At Lidl find wines You'll love this Christmas By any three or more deluxe wines And get 30% off with Lidl Plus Like our award-winning Barossa Valley Shiraz Or Marl Brausovion Blanc Cheers to that Liddle More to Value Be drink away at 18 plus, subject to availability, selected stores, exclude Scotland

1:11.2

and Wales, selected bottles only, ends 31st of the 12. Terms apply, see little.com.orgut-eck slash LPTV.

1:16.5

It is Monday, December 15. Many in Hollywood, including me on this very show, went pretty nuts this

1:22.7

past summer when Open AI introduced SORA II, its new AI text 2 video tool.

1:29.1

There were almost no copyright guardrails.

1:31.1

People could use the intellectual property freely.

1:33.3

I made a couple creepy videos with Wednesday Adam and Peter Griffin from Family Guy.

1:37.6

Sam Altman, the OpenAI CEO, first announced that copyright owners were going to have to opt out of SORA2 individually.

1:45.5

A huge middle finger. But after the freak out, he to have to opt out of SORA 2 individually, a huge middle finger.

1:50.6

But after the freak out, he changed that to opt in, and the characters mostly disappeared from SORA,

1:56.3

as did the users. Against that backdrop, it was pretty shocking to see the announcement last week that Disney, the leader of the Hollywood studios, home to thousands of copyrighted characters, is now jumping into bed with Open AI, investing a billion dollars in the company and signing a three-year deal to allow more than 200 characters to be added to the AI platform for use by fans.

2:12.2

That means Craig can finally make some sexy little mermaid videos or make a Yoda fighting buzz light ear to the death video.

2:18.9

There's some caveats, of course, no voices or human faces.

2:22.1

So they hope to avoid image and likeness issues, though the guilds are rightly suspicious.

2:27.1

And they say that guardrails are in place to protect against copyright abuses or the misuse of characters.

2:33.3

Not sure how that's going to work. If it's okay for Homer Simpson to give a Hitler speech

2:37.5

or those sexy videos of The Little Mermaid.

...

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