WEBVTT -  Daily Variety – What’s Next for Warner Bros. Discovery’s M&A Love Triangle?; Remembering Robert Duvall’s ‘Symphonic’ Talent

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<v Speaker 1>Welcome to Daily Variety, your daily dose of news and

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<v Speaker 1>analysis for entertainment industry insiders. It's Wednesday, February eighteenth, twenty

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<v Speaker 1>twenty six. I'm your host, Cynthia Littleton. I am co

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<v Speaker 1>editor in chief of Variety alongside Ramin Situta. I'm in

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<v Speaker 1>LA He's in New York, and Variety has reporters around

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<v Speaker 1>the world covering the business of entertainment. On today's episode,

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<v Speaker 1>we'll hear from Ridy's Todd Spangler on the latest developments

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<v Speaker 1>in the Three way Na Love triangle between Warner Brothers, Discovery, Netflix,

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<v Speaker 1>and Paramount's Guidance. And then Owen Gliberman joins us to

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<v Speaker 1>pay tribute to what he calls the symphonic talent of

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<v Speaker 1>Robert Duval. But before we get to that, here are

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<v Speaker 1>a few headlines just in this morning that you need

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<v Speaker 1>to know. Stephen Colbert's epic tussle with CBS over the

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<v Speaker 1>Late show's interview with Texas Senate candidate James Talerico took

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<v Speaker 1>another weird time when CBS released a statement late Monday

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<v Speaker 1>denying that it had forbidden Colbert to run the segment.

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<v Speaker 1>As Colbert told his audience on Monday night, which prompted

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<v Speaker 1>him to put the segment on the show's YouTube page.

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<v Speaker 1>CBS came back and said it was merely providing legal

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<v Speaker 1>guidance on equal time rules. Colbert came out in his

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<v Speaker 1>monolog on Tuesday Night and said the network didn't bother

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<v Speaker 1>to tell him that it would release that statement. This

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<v Speaker 1>is getting as ugly and tense as it was during

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<v Speaker 1>David Letterman's last days on NBC Late Night in nineteen

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<v Speaker 1>ninety three before he jumped shipped to CBS. U two

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<v Speaker 1>has released a new six song EP titled Days of Ash.

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<v Speaker 1>It has a song that pays tribute to Renee Good.

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<v Speaker 1>It feels like February when you see this headline On Variety.

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<v Speaker 1>Emily Deschanel is back in the Pilot Mix. She'll play

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<v Speaker 1>a renowned criminal profiler on the untitled Universal TV drama

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<v Speaker 1>pilot from Dean Gorgaris and John Fox. All of these

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<v Speaker 1>stories and so much more can be found.

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<v Speaker 2>On right now.

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<v Speaker 1>And now it's time for conversations with Friday journalists about

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<v Speaker 1>news and trends in show business. Todd Spangler, Variety's business editor,

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<v Speaker 1>helps us unpack what is happening with Netflix and Warner

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<v Speaker 1>Brothers Discovery and what is happening with Warner Brothers, Discovery

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<v Speaker 1>and Paramount. The next seven days are sure to be

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<v Speaker 1>an eventful period in this saga. Todd Spangler, thank you

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<v Speaker 1>for joining me at the end of your day to

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<v Speaker 1>sort out all that had transpired between Warner Brothers, Discovery

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<v Speaker 1>and Netflix and Paramount's guidance. This is a love triangle

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<v Speaker 1>that has been playing out now for going on six months.

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<v Speaker 1>So they have initiated, i think to a lot of

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<v Speaker 1>people's surprised with Netflix's blessing. They have initiated a seven

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<v Speaker 1>day period for negotiations to see what Paramount really has

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<v Speaker 1>to offer. Paramount has been being a little bit coy, well,

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<v Speaker 1>we might have a better offer in us, and now

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<v Speaker 1>they really this is seven days and Ted Sarandos in

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<v Speaker 1>an interview earlier today on CNBC that it is time

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<v Speaker 1>for Paramount to put their money where their mouth is. Todd,

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<v Speaker 1>this was the first thing you dealt with this morning.

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<v Speaker 1>Help us sort out what's going on here.

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<v Speaker 3>So Warner Brothers did a couple things right. They said, look,

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<v Speaker 3>we will hear you out, David Ellison and company, come

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<v Speaker 3>give us your best offer. By the way, one of

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<v Speaker 3>your representatives told us, you'd be willing to go hire

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<v Speaker 3>thirty one bucks a share or hire. It wasn't in writing.

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<v Speaker 3>It was just mentioned on a phone call to an

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<v Speaker 3>unidentified Warner Brothers board member. So they wanted, like, if

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<v Speaker 3>you have something to really beat the Netflix deal, show

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<v Speaker 3>it to us, put in writing, and we will definitely

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<v Speaker 3>consider it. I mean they have to write. They're obligated

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<v Speaker 3>to do that.

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<v Speaker 1>That's probably the first order of business in fiduciary duty.

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<v Speaker 1>Make as much money as you possibly can exactly.

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<v Speaker 3>But they're giving them a short leash seven calendar days.

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<v Speaker 3>Note it's not seven business days. And they also said, oh,

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<v Speaker 3>by the way, we are setting mark twentieth as this

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<v Speaker 3>special shareholder vote to vote on the Netflix deal. And

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<v Speaker 3>by the way, Paramount's guide ants or peace Guy has

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<v Speaker 3>they refer to them, to their by their stock symbol.

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<v Speaker 3>You know, we're still fully recommending Netflix, and we're telling

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<v Speaker 3>our shareholders to vote against your offer as it stood

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<v Speaker 3>as of last week. So they're putting deadlines in place

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<v Speaker 3>and saying, hey, Paramount, if you really want this, you

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<v Speaker 3>got to have a clearly superior financial offer.

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<v Speaker 1>But let's remember that Netflix sealed a deal on December fifth,

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<v Speaker 1>and so it has been a long walk to getting

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<v Speaker 1>to the shareholder approval that will then really kickstart the

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<v Speaker 1>regulatory review. But Netflix does have the bird in the hand,

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<v Speaker 1>and of course, as listeners know, it gets complicated because

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<v Speaker 1>Netflix isn't buying all of Warner Brothers Discovery. But this hurdle,

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<v Speaker 1>this uncertainty has kind of hamstrong Warner Brothers Discovery from

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<v Speaker 1>moving forward with its plan to spin off most of

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<v Speaker 1>its linear cable channels. You can feel the frustration coming

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<v Speaker 1>out of Burbank.

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<v Speaker 3>It's always, you know, a bit of kabookie. Right to

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<v Speaker 3>do this type of negotiation, which does need to be

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<v Speaker 3>in public for significant parts of it, right, you do

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<v Speaker 3>need to be transparent with shareholders, So there's a lot

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<v Speaker 3>of posturing that goes on. And keep in mind, this

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<v Speaker 3>is the first time that the Warner Brothers Discovery board

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<v Speaker 3>is going to engage with Paralance Guidance in a discussion. Previously,

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<v Speaker 3>they've just waved them away. So when I see people saying, oh,

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<v Speaker 3>this is then reopening talks with Perland now they have

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<v Speaker 3>never had a serious negotiation with David Ellis.

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<v Speaker 1>It will be interesting to see if Ellison's really have

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<v Speaker 1>been playing poker and they pump it up by two bucks,

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<v Speaker 1>and then that really would take it off the tables.

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<v Speaker 1>And then if we know that Netflix has a matching right,

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<v Speaker 1>what is your read from Netflix on their willingness to

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<v Speaker 1>go up significantly from where they are?

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<v Speaker 3>I don't have that kind of crystal ball, but I

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<v Speaker 3>think they you know, they have their ceiling, and I

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<v Speaker 3>don't know what that is. I assume that they've reached

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<v Speaker 3>that ceiling now and if it goes any higher, they

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<v Speaker 3>they're prepared to walk away and take the two point

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<v Speaker 3>eight billion breakup fee. Why not? You know, that's a

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<v Speaker 3>little pocket change for them. I go back to this

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<v Speaker 3>notion that for Netflix, Warner Brothers Discovery is a nice

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<v Speaker 3>to have. It's a creative to earnings. You know, it

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<v Speaker 3>gives them a production footprint, It gives them a prestigious

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<v Speaker 3>streaming service and cable network, you know, the gold standard

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<v Speaker 3>of premium content HBO. So this is all nice to have.

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<v Speaker 3>David Allison is in a different spot. He really needs

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<v Speaker 3>to get synergies, not just in the studio business, which

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<v Speaker 3>would be a good thing for them, but on the

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<v Speaker 3>TV side as well. That's why he wants to buy

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<v Speaker 3>the whole thing. So you know, there's a lot of

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<v Speaker 3>debt at Warner Brothers. That's why they're in this spot

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<v Speaker 3>in the first place right now. And by the way,

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<v Speaker 3>David Zaslav and the rest of their investors at Warners Discovery,

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<v Speaker 3>they are the real winners out of all of this,

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<v Speaker 3>because they're going to walk away with a nice little

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<v Speaker 3>bump from whatever they put into this project from where

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<v Speaker 3>it was a year ago, you know what I mean?

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<v Speaker 1>Right, And David Ellison, by his own admission telling everybody

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<v Speaker 1>last summer and fall who would listen, that he absolutely

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<v Speaker 1>had to get Warner Brothers. It was part of the

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<v Speaker 1>plan from the get go, and so he certainly if

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<v Speaker 1>he does wind up with this at the end, he

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<v Speaker 1>will certainly have dug himself out of a hole in

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<v Speaker 1>a huge way. Well, we have two big dates on

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<v Speaker 1>the calendar now to watch the end of this seven

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<v Speaker 1>day calendar day period, so they'll probably be working over

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<v Speaker 1>the weekend and also March twentieth if that date still holds.

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<v Speaker 1>So again, this will not be our last conversation about this.

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<v Speaker 1>Thank you as always for helping us interpret all that

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<v Speaker 1>is going on here. All right, good to talk, and

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<v Speaker 1>now we turn to Owen Gleiberman, Variety's chief film critic,

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<v Speaker 1>brings us incredible perspective and a fountain of adjectives to

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<v Speaker 1>pay tribute to the greatness of Robert Duval. Owen Glyberman,

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<v Speaker 1>thanks for joining me.

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<v Speaker 2>Good to be here, Cynthia.

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<v Speaker 1>As happens too often these days, you were summoned on Monday,

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<v Speaker 1>on a holiday, to pay tribute and really just help

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<v Speaker 1>us interpret the career of truly one of the greats,

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<v Speaker 1>one of the true originals, an idiosyncratic character who was

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<v Speaker 1>a very unlikely movie star according to people that worked

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<v Speaker 1>with him and knew him best. Robert Duval left us

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<v Speaker 1>over the long weekend at the age of ninety five.

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<v Speaker 1>When you saw the headline, what did you think of

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<v Speaker 1>when you thought, what were some of those first immediate

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<v Speaker 1>impressions that came to mind as you thought about Robert Duval.

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<v Speaker 2>It's funny about Daval. People will say about a movie

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<v Speaker 2>star when they're trying to pay him a compliment. He's

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<v Speaker 2>a character actor in a leading man's body, And I

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<v Speaker 2>think that Robert Duval was a leading man in the

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<v Speaker 2>character actor's body. I mean, he could do anything. He

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<v Speaker 2>was this extraordinary chameleon, just like Daniel day Lewis and

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<v Speaker 2>Meryl Street. But he had a certain look to him,

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<v Speaker 2>of this very ordinary quality. He was not glamorous, and

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<v Speaker 2>when we first saw him playing characters like Bu Radley

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<v Speaker 2>or the role that made him famous, Tom Hagen and

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<v Speaker 2>The Godfather, he had this very quiet, recessive quality. And

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<v Speaker 2>I think a lot of us watching his performance in

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<v Speaker 2>The Godfather thought this is what Robert Duvall is like.

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<v Speaker 2>We thought he's this brilliant, understated actor. But I think

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<v Speaker 2>all of that really started to change around the time

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<v Speaker 2>of Networth, where he's playing the corrupt prophet, hungry TV executive,

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<v Speaker 2>and Duval just gave this wild performance, kind of unhinged.

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<v Speaker 2>And that was the other side of Robert Deval, the

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<v Speaker 2>one who was drawn to showing you men at their

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<v Speaker 2>most extreme. And as that side of him came out

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<v Speaker 2>more and more, what I think you saw is that

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<v Speaker 2>there was this incredible duality to Robert Duvald. He knew

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<v Speaker 2>how to play the perfect Southern gentleman. He could be

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<v Speaker 2>the soul of decency, but he also showed you the

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<v Speaker 2>dark side, not because he was drawn to playing villains,

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<v Speaker 2>but because he wanted to understand and show you every

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<v Speaker 2>dimension of humanity and he did that.

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<v Speaker 1>Oh, and I want to read your words and the

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<v Speaker 1>incredible tribute that you wrote to him. This is a

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<v Speaker 1>roadmap for the movies to go find and this is

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<v Speaker 1>kind of a fun, cryptic puzzle way to do it.

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<v Speaker 1>In assessing Robert Duval's talent, you say quote he was

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<v Speaker 1>a sly dog virtuoso whose roster of indelible whose roster

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<v Speaker 1>of indelible characters included a broken down country singer, a

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<v Speaker 1>mafia consiglieri, a charismatic pentecostal preacher, a psychotic army commander,

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<v Speaker 1>a corrupt TV news executive, and a creepy neighbor who

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<v Speaker 1>lives in the shadows, not to mention a whole lot

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<v Speaker 1>of cowboys and also Dwight D. Eisenhower and Joseph Stalin.

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<v Speaker 1>That a is truly a roadmap to Robert Duval and

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<v Speaker 1>captures all of his multitudes. That I spoke Monday morning

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<v Speaker 1>to Walter Hill, who directed Duval twice in two projects,

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<v Speaker 1>the movie Geronimo and the AMC mini series Broken Trail,

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<v Speaker 1>which really kind of boosted him back and won him Emmys.

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<v Speaker 1>Hill told me that Duval had mentioned to him that

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<v Speaker 1>he was very proud of having played Joseph Stalin.

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<v Speaker 2>The first thing that struck me as soon as I

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<v Speaker 2>heard that Duval had passed on was this incredible duality

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<v Speaker 2>that he had playing kind of the light and dark

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<v Speaker 2>sides of people at the same time. I mean, that,

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<v Speaker 2>I think, is what is so great about his performance

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<v Speaker 2>and tender mercies and why he won the Oscar for that.

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<v Speaker 2>He's playing this broken down country singer Max Sledge who's

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<v Speaker 2>hit bottom. The character is a recovering alcoholic, and we

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<v Speaker 2>see him throughout the movie really working to recover. That's

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<v Speaker 2>kind of before this became such a movie cliche, and

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<v Speaker 2>we see that he's basically a good man because Duval

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<v Speaker 2>could really just play this bone deep sense of decency,

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<v Speaker 2>and I think watching that performance, just so many people

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<v Speaker 2>could relate to what a flawed soul this man was,

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<v Speaker 2>because that's what Duval did. He always touched the truth

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<v Speaker 2>and even the dark truth. He really did start to

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<v Speaker 2>do that in movies like The Great Santini, where he

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<v Speaker 2>plays just this overwhelmingly bad father in ways, and yet

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<v Speaker 2>the character's not a villain because he's trying to show

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<v Speaker 2>you that everyone has his reasons and he wants to

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<v Speaker 2>understand that character, and that, of course, is also what's

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<v Speaker 2>there in his extraordinary performance in Apocalypse Now when he

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<v Speaker 2>plays Colonel Kilgore. It's such a mythic performance because he's

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<v Speaker 2>coloring in in a way, this whole dark side of America,

0:12:41.120 --> 0:12:45.120
<v Speaker 2>our desire to conquer and our desire to surf. It's

0:12:45.200 --> 0:12:48.400
<v Speaker 2>totally psychotic, but he's showing you the appeal of that.

0:12:48.679 --> 0:12:52.920
<v Speaker 2>It's a satirical performance, but it's also totally real. I mean,

0:12:53.040 --> 0:12:55.640
<v Speaker 2>Leon screen in Apocalypse Now for ten minutes, and yet

0:12:55.760 --> 0:12:59.080
<v Speaker 2>nobody could ever forget that performance. But there's also this

0:12:59.200 --> 0:13:02.720
<v Speaker 2>quality that Dvall brought to playing Kilgore that I think

0:13:02.840 --> 0:13:06.120
<v Speaker 2>almost no other actor could have done, which is that

0:13:06.480 --> 0:13:08.840
<v Speaker 2>it is such a dark character. It is so much

0:13:08.840 --> 0:13:13.120
<v Speaker 2>a character that embodies the sins of America that I

0:13:13.160 --> 0:13:16.720
<v Speaker 2>think almost any other actor would have You would have

0:13:16.760 --> 0:13:19.640
<v Speaker 2>felt that he was on the side of saying that

0:13:19.640 --> 0:13:22.240
<v Speaker 2>that this was a performance that is in a way

0:13:22.520 --> 0:13:25.800
<v Speaker 2>a critique of America. But the way Duval plays it,

0:13:26.080 --> 0:13:29.959
<v Speaker 2>his identification with this character is so strong. You can

0:13:30.000 --> 0:13:34.800
<v Speaker 2>tell that Duvall likes this character he's played. He's very charismatic,

0:13:35.080 --> 0:13:38.480
<v Speaker 2>He's almost on his side during the performance that I

0:13:38.520 --> 0:13:41.240
<v Speaker 2>think is the risk Duval took him playing that. He

0:13:41.360 --> 0:13:43.360
<v Speaker 2>just goes all the way with me saying, yeah, you know,

0:13:43.520 --> 0:13:47.480
<v Speaker 2>this kind of rogue cowboy, this is who America is.

0:13:47.520 --> 0:13:50.520
<v Speaker 1>What are some more recent Duval performances that stand out

0:13:50.520 --> 0:13:50.720
<v Speaker 1>to you.

0:13:51.160 --> 0:13:53.640
<v Speaker 2>I just think the performance that I would like to

0:13:53.760 --> 0:13:58.480
<v Speaker 2>draw people's attention to from Duval's canon is The Apostle

0:13:58.520 --> 0:14:02.440
<v Speaker 2>eighteen ninety seven movie that he starred in and directed.

0:14:02.600 --> 0:14:05.240
<v Speaker 2>I think it is his greatest performance, and I think

0:14:05.280 --> 0:14:08.439
<v Speaker 2>it's absolutely one of the masterpieces that ever came out

0:14:08.440 --> 0:14:11.559
<v Speaker 2>of the independent film era. I mean, I would just

0:14:11.600 --> 0:14:14.160
<v Speaker 2>put it up there with Boogie Knight's pulpic fiction you

0:14:14.240 --> 0:14:18.000
<v Speaker 2>name it. Duval plays this charismatic Pentecostal preacher named Sonny

0:14:18.480 --> 0:14:21.840
<v Speaker 2>who is totally It's like the ultimate of all performance.

0:14:22.200 --> 0:14:25.040
<v Speaker 2>He's playing this guy who's totally a man of God,

0:14:25.240 --> 0:14:29.920
<v Speaker 2>but he's also a narcissist devoted to his own gratification.

0:14:30.160 --> 0:14:33.040
<v Speaker 2>I think Duvall probably drew on a lot of himself

0:14:33.080 --> 0:14:35.400
<v Speaker 2>to play this character. He's both at once, and that's

0:14:35.440 --> 0:14:37.840
<v Speaker 2>the duality that Daval could play like no one else.

0:14:37.960 --> 0:14:40.640
<v Speaker 2>Duval shows you how this man he's playing could be

0:14:40.720 --> 0:14:44.040
<v Speaker 2>totally religious and at the same time may be homicidal,

0:14:44.240 --> 0:14:47.080
<v Speaker 2>and as a preacher, he is like nothing you have

0:14:47.160 --> 0:14:50.120
<v Speaker 2>ever seen. The word that I used for his performance

0:14:50.160 --> 0:14:54.120
<v Speaker 2>when I wrote about it yesterday is symphonic. It is

0:14:54.480 --> 0:14:58.640
<v Speaker 2>just one of the greatest pieces of screen acting you

0:14:58.680 --> 0:15:00.000
<v Speaker 2>will ever see.

0:15:00.000 --> 0:15:02.240
<v Speaker 1>Definitely high praise. A lot of people have said he

0:15:02.360 --> 0:15:04.720
<v Speaker 1>was one of those actors that just raised the performance

0:15:04.800 --> 0:15:08.880
<v Speaker 1>of everyone because of his stature, because of his commanding presence.

0:15:09.080 --> 0:15:12.960
<v Speaker 2>Completely. I think Duval's legacy is really a lesson for

0:15:13.120 --> 0:15:17.360
<v Speaker 2>us in terms of what movies and television are or

0:15:17.400 --> 0:15:20.440
<v Speaker 2>should be, and that's that no matter how small the role,

0:15:20.560 --> 0:15:24.280
<v Speaker 2>no matter how formulaic the movie, Duval always hit the

0:15:24.280 --> 0:15:26.720
<v Speaker 2>true note. And he did it over and over again.

0:15:27.000 --> 0:15:28.880
<v Speaker 2>You just felt that when you were watching a Robert

0:15:28.920 --> 0:15:33.280
<v Speaker 2>Duvall performance, you were seeing just a total human being

0:15:33.440 --> 0:15:35.960
<v Speaker 2>in front of you. He touched the depths, he touched

0:15:35.960 --> 0:15:38.360
<v Speaker 2>our hidden sides, and that's what made him one of

0:15:38.360 --> 0:15:39.000
<v Speaker 2>the greats.

0:15:39.320 --> 0:15:41.760
<v Speaker 1>Owen, thank you so much for writing so beautifully and

0:15:41.800 --> 0:15:44.280
<v Speaker 1>taking the time to pay tribute to absolutely one of

0:15:44.280 --> 0:15:44.680
<v Speaker 1>the greats.

0:15:44.840 --> 0:15:45.080
<v Speaker 2>Thanks.

0:15:49.720 --> 0:15:52.320
<v Speaker 1>As we close out today's episode, here's a few things

0:15:52.320 --> 0:15:55.560
<v Speaker 1>we're watching for on February tw third, Variety will produce

0:15:55.600 --> 0:15:58.560
<v Speaker 1>the first of three digital dailies out of the London

0:15:58.600 --> 0:16:01.760
<v Speaker 1>TV screenings. It's going to be a busy event based

0:16:01.800 --> 0:16:04.440
<v Speaker 1>on the volume of releases that are hitting my inbox.

0:16:04.560 --> 0:16:07.760
<v Speaker 1>It's almost time for Zach Braff, Sarah Chalk, and Donald

0:16:07.760 --> 0:16:11.320
<v Speaker 1>Faison to scrub Back in Scrubbs, the hospital comedy that

0:16:11.360 --> 0:16:14.720
<v Speaker 1>aired on NBC and ABC is back for more starting

0:16:14.760 --> 0:16:18.200
<v Speaker 1>February twenty fifth on ABC and Hulu, and in scenes

0:16:18.240 --> 0:16:21.120
<v Speaker 1>we never thought we'd see, there were picket signs out

0:16:21.200 --> 0:16:24.040
<v Speaker 1>in front of the Writers Guild of America West building

0:16:24.120 --> 0:16:28.840
<v Speaker 1>on Fairfax Avenue on Tuesday, Will Wonders Never cease. Variety's

0:16:28.920 --> 0:16:32.240
<v Speaker 1>labor reporter, Gene Mattis will be closely watching this strike

0:16:32.560 --> 0:16:35.480
<v Speaker 1>by employees of the Writers Guild of America West. We

0:16:35.640 --> 0:16:38.240
<v Speaker 1>love to hear from our listeners, so please send thoughts,

0:16:38.320 --> 0:16:42.200
<v Speaker 1>scripes and other feedback about Daily Variety to podcasts at

0:16:42.320 --> 0:16:45.480
<v Speaker 1>Variety dot com before we go. Congrats to Peter Trogett.

0:16:45.760 --> 0:16:49.280
<v Speaker 1>He's been named head of Television for fifth season, reporting

0:16:49.360 --> 0:16:52.520
<v Speaker 1>to CEO Graham Taylor. Trogett has been an executive with

0:16:52.640 --> 0:16:56.520
<v Speaker 1>Cashette Studios as well as with NBC Universal fifth season,

0:16:56.680 --> 0:16:59.440
<v Speaker 1>is a neighbor of Variety here in West LA. Thanks

0:16:59.480 --> 0:17:02.040
<v Speaker 1>for listening. This episode was written and reported by me

0:17:02.200 --> 0:17:06.160
<v Speaker 1>Cynthia Littleton, with contributions from Todd Spangler and Owen Gleiberman

0:17:06.760 --> 0:17:10.040
<v Speaker 1>stick Snick's hick Picks. Please leave us a review at

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<v Speaker 1>the podcast platform of your choice, and please tune in

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<v Speaker 1>tomorrow for another episode of Daily Variety.