Welcome back to The Daily Courant, your afternoon compilation of Puck’s best new reporting.

Today, we lead with Kim Masters’ deeply sourced look into whether David Ellison & Co. might have another M&A target in their crosshairs now that the Skydance-Paramount deal is on track to close. Paramount, after all, is still a subscale player in a Netflix world. And more than a few Hollywood insiders believe that Ellison intends to take a run at acquiring a slimmed-down Warner Bros. next…

Plus, below the fold: John Ourand assesses ESPN’s potential end state ahead of Disney’s earnings call tomorrow. Lauren Sherman offers an inside look at the business of Quince, the fashion industry’s polarizing and ubiquitous luxury knockoff factory. And Abby Livingston charts the surprising ripple effects following Trump’s dramatic order to slice up the Texas congressional map.

Meanwhile, on the pods: Matt Belloni and Lucas Shaw join forces on The Town to evaluate Paramount’s new executive hierarchy. On The Grill Room, Dylan Byers and Wired editor Katie Drummond reflect on her overhaul of the iconic tech magazine. On Fashion People, Lauren and Bernstein analyst Luca Solca dissect the latest luxury earnings, before stylist Sarah de Mavaleix swings by to discuss Phoebe Philo’s newest collection. And on The Powers That Be, Leigh Ann Caldwell and Abby consider the long-term consequences of the Texas redistricting push.

HOLLYWOOD

As the Paramount-Skydance deal finally closes this week, many are wondering what else the young mogul has up his sleeve. Skydance-Paramount is still subscale, and David Ellison has access to unlimited capital. Is Warner Bros. in his sights?

SPORTS

Disney’s much-anticipated earnings call this Wednesday may finally reveal Burbank’s plans for the future of ESPN—Flagship, the NFL deal, and the balance between managing cord-cutting and building the next frontier.

FASHION

Everyone in fashion hates Quince, but the luxury knockoff brand reportedly generates around $700 million a year in revenue—thanks, partly, to the ultra-wealthy striving to appear budget-conscious.

WASHINGTON

Washington insiders worry that Trump’s push to slice up the Texas congressional map could destabilize politics nationwide, sparking an arms race that pits members against members, makes it easier to topple incumbents… and placing Capitol Hill at the mercy of state legislators with their own agendas.

HOLLYWOOD

Matt is joined by Bloomberg’s Lucas Shaw to discuss a wide range of topics from around town this week, including David Ellison’s new Paramount executive hierarchy, the Week 2 nosedive taken by The Fantastic Four despite its good reviews, Peacock’s stagnation and reliance on sports, YouTube stars Dude Perfect releasing their own documentary in theaters, and more.

MEDIA

Katie Drummond, global editorial director of Wired, joins the pod to reflect on her overhaul of the tech magazine—transforming it into a sharp-edged outlet covering the dystopian intersection of technology, politics, and culture. She discusses the significance of original reporting, Wired’s notable growth and ambitious growth strategy, A.I.’s threat to journalism, and much, much more.

FASHION

For this special double-header episode, Lauren covers both the business and pleasure of fashion. First up is Bernstein analyst Luca Solca with a reflection on the latest luxury earnings season. They talk about pricing, the secondhand market, the Chinese consumer, and the prospects of everyone from the Prada Group and Hermès to Richemont, LVMH, and Kering. Then, stylist Sarah de Mavaleix pops in to discuss the greatest of Phoebe Philo Collection D, and why it marks a turning point for the designer—and the fashion industry writ large.

WASHINGTON

Abby Livingston joins Leigh Ann Caldwell to break down the latest Texas redistricting showdown, as Democrats once again flee the state in protest of a Republican map designed to secure long-term House dominance. They examine what this tactic might actually accomplish—and the implications for Texas and national politics.

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