Wall Street Journal

Rep. Kevin McCarthy (R-CA) was ousted as House speaker after failing to withstand a rebellion among far-right dissidents, as the House voted for the first time in history to remove its leader and entered a period of unpredictability and paralysis. Rep. McCarthy later announced he would not seek the position again, setting up an expected intraparty battle for the position second in line to the presidency. House Republicans now need to select a new leader and find consensus for funding the government by mid-November or again risk a shutdown.

The labor agreement that writers struck with studios and streaming platforms will likely accelerate the end to “peak TV," a decade that included an explosion of programming for viewers and job opportunities for talent in Hollywood. Streamers will have to find a way to pay increased talent costs—from the writers’ settlement, along with an earlier deal with directors and whatever is finalized with actors—without adding to their overall production costs. That will likely mean that companies will make fewer new shows and cancel even more that are on the bubble.