The Best, Worst, and Most Ridiculous of the Week: 14 Showbiz Stories You Can’t Miss

"Star Trek" kills J.J. Abrams grand ambitions, Will Smith gets "Wild," Bill Hader peaces out and a Fox reporter's major fail — all this week in Hollywood.

How the Battle Over 'Star Trek' Rights Killed J.J. Abrams' Grand Ambitions: J.J. Abrams likes to go big or go home. But due to the "Star Trek" licensing and merchandising rights being split between CBS and Paramount, the multihyphenate wasn't allowed to go as big as he wanted to in 2009. Since Disney owns all the rights to "Star Wars," Abrams shouldn't have a problem turning his vision into a multi-platform experience reality that spans television, digital entertainment and comic books. 

Will Smith Sets Sights on 'Wild Bunch' Reboot at Warner Bros. (Exclusive): One of the biggest movie stars in the world is planning a return to the "Wild Wild West" by producing and starring in a modernized remake of Sam Peckinpah's classic 1969 Western about an aging group of outlaws looking for one last big score. No news on whether or not he'll be producing a hit song to accompany the film, too.

Christina Aguilera, Cee Lo Green Returning to 'The Voice' for Season 5  (Exclusive): The original "Voice" gang will back together again.

What Does Activist Investor Dan Loeb Want With Hollywood? (Hint: Could It Be Yahoo?): TheWrap examines the hedge-fund manager's motives for urging Sony to partially spin off its entertainment division. Could he be looking to marry Sony’s content with another media company he's heavily invested in?

Robert De Niro & Friends Party Like It's 1959 in 'Last Vegas' Trailer (Video): Fellow Oscar winners Michael Douglas, Morgan Freeman and Kevin Kline are joining De Niro for a wild night in Sin City. Their antics probably won't top the "Hangover" Wolfpack's adventures, but it still promises plenty of hijinks.

Michael B. Jordan on Playing a Black Superhero: 'I'm Up For It': TheWrap broke the news earlier this month that the "Fruitvale Station" star was being considered for the role of the Human Torch in 20th Century Fox's "Fantastic Four" reboot. At Cannes, Jordan enthusiastically said he would happily "embrace" the role originally played by Chris Evans.

'Arrested Development' New Season Trailer Released: Fans have been waiting a long, long time for the Bluth family to return. Finally, there's a preview of their highly-anticipated shenanigans which will premiere May 26, exclusively on Netflix.

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Bill Hader Exiting 'Saturday Night Live': NBC's long-running sketch show lost another MVP this week when the Emmy-nominated performer announced his departure on Tuesday. Hader wraps up his eight-season "SNL" run this Saturday on the season finale, which Ben Affleck will host and Kanye West will appear as the musical guest.

Barbara Walters on Retiring: 'I'm Not Walking Into the Sunset' (Video): After 50 continuous years on television, one of the world's most accomplished broadcast journalists is taking a permanent vacation from the business next summer. She's not ruling out returning to the airwaves for "special occassions," but she's looking forward to sitting back, relaxing, and admiring "the very gifted women — and OK, some men, too — that will be taking" her place.

Seth Meyers to Take Over 'Late Night' From Jimmy Fallon: Industry insider buzz was true. Another "SNL" veteran is moving on to greener pastures in 2014, when viewers will find out if this was one of the best or worst decisions NBC has ever made. According to colleague Bill Hader, it was...

Your Next Horror Movie Franchise Isn't a Movie – It's an App: For better or worse, producer Neal Edelstein may be re-inventing the movie business with an Apple-only app that gives viewers access to "Haunting Melissa."

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Ex-'Terminator' Arnold Schwarzenegger to Play Exterminator in 'Toxic Avenger' Remake: Anybody who has seen Troma's classic B-movie "The Toxic Avenger" will know just how ridiculous this prospect could be. And hopefully will be. Despite a never-ending string of sequels and remakes, Schwarzenegger's casting proves that Hollywood still has a few pleasant surprises up its sleeve.

Fox Reporter to Matthew Perry: Congratulations on 'Go On' Cancellation (Video): Fox Sports West's Dan Moriarty apparently doesn't understand the word "congratulations." And during a Los Angeles Kings playoff game, Perry didn't appear to understand why he was being congratulated for his latest sitcom being canceled after just one season. 

Chopard Jewelry Heist at Cannes Film FestivalA real-life jewelry heist went down during the world premiere of "The Bling Ring," Sofia Coppola's adaptation of another real-life jewelry heist. Any guesses as to how long it will take the film industry to adapt this true crime, too?