Netflix had a strong fourth quarter, adding 19 million subscribers to the streaming service before raising subscription prices across the board. Also, leaked footage muddies the water in the ongoing Blake Lively/Justin Baldoni war, and Trump announces a $500 billion AI initiative with Larry Ellison and Sam Altman. Will the project help or hurt Ellison’s stake in his son David’s purchase of Paramount? Kim Masters and Matt Belloni investigate. 

Plus, Masters is joined by Scott Feinberg, The Hollywood Reporter’s Executive Editor of Awards, to break down who’s in and who’s out in this year's Oscar nominations.