In this new Ankler series, Hollywood Stories, we are starting with wild untold showbiz tales from the '90s. For our debut episode, Richard Rushfield sits down with Adam Leff and Zak Penn, the original screenwriters behind one of film's most iconic flops, Last Action Hero. Speaking publicly together for the first time about the screenplay they sold when they were just out of college 30 years ago, they recall the highs — a heady bidding war, a yes from megastar Arnold Schwarzenegger — and the cascading humiliations of the misbegotten project, which became a superlatively excessive and lousy product of the bloated Hollywood machine it was originally meant to parody.

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