"It is not actually being cut...What is actually happening is tightening up."
So what does the "tightening up" consist of?
"One small segment...has been cut and that is the bit with the stunt bikes."
So it's definitely not been cut. They've just "tightened up" the bit with the stunt bikes.
And by "tightened up" they mean they've "cut" the bit with the stunt bikes.
So let's not have any more talk of cuts.