Politico’s E.I.C. Bake-Off & The OpenAI–Disney Divorce

WBD’s Mystery Bidder, The Puig–E.L.C. Bombshell, Hochul’s A.I. Manifesto

Welcome back to The Daily Courant, your afternoon guide to Puck’s best new reporting. Here’s what you need to know…

In the Room: As the feverish hunt for Politico’s next editor-in-chief drags into its third month, sources say that Axel Springer C.E.O. Mathias Döpfner is close to picking a winner. Dylan Byers reveals the latest developments—and the high-profile candidates who’ve bowed out. [Read More]
Dry Powder: Fresh details have emerged in the wake of David Zaslav’s Warner Bros. Discovery sale, including the eleventh-hour apparition of a mysterious Singaporean bidder. Bill Cohan unravels the highly curious M&A subplot. [Read More]
Line Sheet: Reports of a potential $40 billion megamerger between The Estée Lauder Companies and Puig have sent shockwaves through the beauty industry. Rachel Strugatz chats with insiders about how the deal might play out. [Read More]
The Hidden Layer: As populist backlash to A.I. builds at both ends of the political spectrum, New York Gov. Kathy Hochul is attempting to thread the centrist needle while also courting the tech industry. Ian Krietzberg shares his candid conversation with the governor about her delicate balancing act. [Read More]
Wall Power: Over the past decade, Bonhams has undergone multiple ownership changes and strategy adjustments, culminating in its recent move to the Steinway Tower in Manhattan. Marion Maneker and the auction house’s C.E.O., Seth Johnson, dig into Bonhams’ push to scale its U.S. presence. [Inner Circle Exclusive]

A MESSAGE FROM META

146 dogs fostered in 6 hours. And it all started with one Facebook post.

When a truck crashed into Kanawha Rescue, 146 dogs needed homes — fast. The community mobilized on Facebook, Instagram and WhatsApp, and fostered every dog in just 6 hours.

Over 3.5 billion people connect to what matters every day across Meta apps.

Learn more.

Meanwhile, on the pods…

The Town: Matt Belloni is joined by Sources’ Alex Heath to break down the implosion of Disney’s deal with OpenAI after the shuttering of Sora, Sam Altman’s video app. [Listen Here]
The Powers That Be: Peter Hamby chats with Abby Livingston about the increasingly contentious and expensive G.O.P. Senate runoff in Texas—and the rising odds of an all-Republican general election for governor of California. [Listen Here]

MEDIA

Dylan Byers

Guns & Rosslyn

As the search for Politico’s next editor-in-chief drags into its third month, promising, high-profile candidates are falling fast while sources say Axel Springer C.E.O. Mathias Döpfner is close to picking a winner. Just don’t expect it to be anyone obvious.

WALL STREET

William D. Cohan

The Curious Case of Warner’s Eleventh-Hour Bidder

Just as Paramount was finalizing its offer to steal WBD from Netflix, a mysterious Singaporean company suddenly offered to top both bids with $32.50 per share. Was the whole thing a fraud?

FASHION

Rachel Strugatz

Negotiating the E.L.C.–Puig Prenup

While the prospect of an Estée Lauder Companies–Puig megamerger has electrified the beauty industry, plenty of questions remain—including whether the resulting $35 billion entity would pose an actual threat to the L’Oréal juggernaut.

A.I.

Ian Krietzberg

The A.I. “Hope & Change” Election

Bernie is talking to Claude, Trump wants Grok in missiles, and Kathy Hochul just wants the best of both worlds. If Silicon Valley isn’t already regretting hyping a job-obliterating third industrial revolution, the next two elections will show why the politics of A.I. are turning explosive.

A MESSAGE FROM META

Meta apps connect over 3.5 billion people to what matters every day.

When a truck crashed into Kanawha Rescue, 146 dogs needed homes — fast. The shelter posted a plea for help on Facebook.

“Word spread on Facebook, Instagram and WhatsApp,” says Devon. “Our community fostered every dog in just six hours — and I got my new pup, Jane.”

See Kanawha Rescue's story.

ART

Marion Maneker

Condition Report: Seth Johnson, Bonhams’ C.E.O.

New ownership. New H.Q. And now, Bonhams also has a new leader. Here, he opens up about the auction house’s balance sheet, integrating its global acquisitions, and winning the next generation of collectors.

HOLLYWOOD

Matthew Belloni

Sora Is Dead: What Does That Mean for Disney?

Matt is joined by Alex Heath from the Sources newsletter and Access podcast to discuss the end of Disney’s deal with OpenAI after the latter announced the shutdown of video app Sora. They get into why OpenAI is changing course, A.I. companies’ relationship with Hollywood, and what this means for Disney. They also discuss the massive layoffs at Epic Games and how they will affect Disney’s future as a major investor in the video game company.

WASHINGTON

Peter Hamby

Abby Livingston

The Powers that Be Daily, Starring Peter Hamby

The G.O.P.’s ’26 Brain Transplant

Abby Livingston joins Peter to break down a bit of primary-election role reversal: In California, a crowded and underwhelming Democratic field risks splitting the vote and opening the door to an all-Republican general. And in Texas, an increasingly contentious and expensive G.O.P. Senate runoff—and Trump’s withheld endorsement—gives Democrats a sliver of hope that they’ll score a major upset come November.

Need help? Review our FAQ page or contact us for assistance. For brand partnerships, email ads@puck.news.

You received this email because you signed up to receive emails from Puck, or as part of your Puck account associated with {{customer.email}}. To stop receiving this newsletter and/or manage all your email preferences, click here.

Puck is published by Heat Media LLC. 107 Greenwich St., New York, NY 10006