Spoiler warning 🚨 20 years later, Meryl Streep and Anne Hathaway are back at 'Runway' magazine for the sequel to 'The Devil Wears Prada.' Though the 2026 portrayal of the fashion magazine industry looks quite different: layoffs, vanishing influence, and billionaires scooping up publications. We asked a long-time TIME journalist to weigh in on how accurately the movie depicts the media industry.