Happy Friday and welcome back to The Daily Courant, your afternoon medley of Puck’s best new reporting. Today, we’re kicking off with Matt Belloni’s sobering assessment of the new pressures on Warner Bros. to deliver hits (and cut costs…) in the wake of WBD’s planned split into two companies, with the studio and streaming business on one side and the TV assets on the other. Yes, the television business was declining—that’s why David Zaslav wanted to spin it off—but now there’s a lot more pressure on the streaming business to perform… and higher stakes for film chiefs Mike De Luca and Pam Abdy’s big gambles. Plus, below the fold: Leigh Ann Caldwell hosts Sen. Brian Schatz at the Hay-Adams to discuss how to un-DOGE America. John Heilemann and The Atlantic’s Karen Hao discuss how OpenAI C.E.O. Sam Altman’s disarming power of persuasion has made him perhaps even more influential than Elon Musk. John Ourand charts Brian Rolapp’s leap from NFL consigliere to PGA Tour czar. And exclusively for Inner Circle members, Lauren Sherman investigates the Big Luxury ambitions of Mayhoola, the Qatari royal family–backed investment firm. Meanwhile, on the pods: Matt rings up Gold Derby’s Debra Birnbaum on The Town to discuss the logistics of Emmy campaigning. And on The Grill Room, Dylan Byers and Julia Alexander wade into the chaos surrounding WBD’s breakup and what it portends for HBO and CNN, while Julia and John Ourand huddle up on The Powers That Be to debate what the divorce means for TNT and TBS, and the next wave of sports rights negotiations.

Superman (or any single movie) won’t move a media company’s stock price like its overall television business does. But now that David Zaslav is spinning off his linear assets, there’s about to be a lot more pressure on the film studio to perform. Read Now

A wide-ranging conversation with Senator Brian Schatz about Trump deploying troops to Los Angeles, the dangerous rhetoric of “invasion,” the trouble with the Big Beautiful Bill, and how to un-DOGE America. Read Now

For your consideration: Max presents the HBO Original Mountainhead. From the creator of Succession, Mountainhead stars Steve Carell, Jason Schwartzman, Cory Michael Smith, and Ramy Youssef as four rival tech billionaires gather for their annual mountain retreat. But when one of their AI platforms sparks a global crisis, their boys’ weekend spirals into chaos. The future of humanity may be a game to them, but billions of lives are on the table. Don’t miss the TV movie Variety is calling “A MASTERCLASS IN SATIRE,’ Emmy-eligible for Outstanding Television Movie and all other categories. Now streaming on Max.

A wide-ranging conversation with Karen Hao, author of a revelatory new book about Sam Altman, OpenAI, and the age of artificial intelligence—and why each inspires awe and dread in equal measure. Read Now

It’s not easy being Roger Goodell’s number two. Now, Brian Rolapp, a longtime resident of the NFL commissioner shortlist, is at the precipice of taking a job with the PGA Tour, instead. Read Now

Rumors abound regarding Mayhoola, the Qatari royal family–backed investment vehicle that once aspired to challenge LVMH and Kering before pivoting. Now, it seems, it’s pivoting again… Read Now

Matt is joined by Debra Birnbaum, editor-in-chief of Gold Derby and former head of awards at Amazon Studios, to discuss the logistics of Emmy campaigning, how Emmy and Oscar campaigns differ, who actually votes, and the cost behind small and large campaigns. Debra sticks around for The Call Sheet to help Matt predict which shows will be nominated in the best drama, comedy, and limited series categories at the Emmys. Listen Now

For your consideration: Sponsors include Max, presenting the HBO Original House of the Dragon. After King Aegon II’s coronation and the death of Queen Rhaenyra’s son, House Targaryen stands divided. In King’s Landing, Aegon II rules from the Iron Throne with support from Alicent, the Green Council, and the largest dragon in Westeros. From exile on Dragonstone, Rhaenyra and her Black Council plan their response. As both sides seek alliances from Westeros’s great houses, civil war becomes inevitable—with armies and dragons ready for battle. Don’t miss the series Variety calls “TV’s GREATEST SPECTACLE.” Emmy-eligible for Outstanding Drama Series and all other categories. Now streaming on Max.

Dylan and Julia wade into the chaos surrounding WBD’s breakup and what it means for HBO and CNN as the company’s biggest brands go their separate ways. They also discuss Apple’s underwhelming developers conference earlier this week, and how Google’s A.I. Overviews are bleeding the media business. Then Lauren Sherman swings by to chat about Anna Wintour appointing one of her deputies to run Vanity Fair—and whether he (or anyone) can turn things around. Listen Now

John Ourand and guest host extraordinaire Julia Alexander debate what the WBD divorce means for TNT and TBS, the next wave of rights negotiations, and whether Zaslav is lying to himself about not needing sports. Then they dig into the slumping NBA Finals ratings—and whether this is indicative of broader league fatigue. Listen Now

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