Sentence:  Despite the sheer beauty and spectacle of numerous documentaries , art films , and travelogues , despite the impressive financial success of such a <WSD>recent</WSD> development as Cinerama , the movies are at heart a form of fiction , like the play , the novel , or the short story . 
Meaning of the word marked with <WSD> tags:  of the immediate past or just previous to the present time