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

Today, we lead with Dylan Byers’s exclusive news break on David Ellison’s pursuit of The Free Press—a nine-figure deal that’s said to be “on the 1-yard line” and would potentially put Bari Weiss, the pro-Israel hawk and Millennial provocateur, in an influential editorial role at CBS News. Naturally, the newsroom is already on edge…

Plus, below the fold: Leigh Ann Caldwell looks at whether Senate Majority Leader John Thune could lose the Senate. Bill Cohan reports back from a secretive Wall Street gathering in Wyoming. Rachel Strugatz takes stock of Estée Lauder’s portfolio amid C.E.O. Stéphane de La Faverie’s make-or-break turnaround effort. For Inner Circle members, Marion Maneker offers a final word on the apparent side dealing at Sotheby’s. And on The Powers That Be, Peter Hamby connects with Bill to dissect Trump’s hands-on meddling in the private sector.

MEDIA

With Paramount securely in his pocket, David Ellison is on the verge of acquiring Bari Weiss’s The Free Press and tossing her the keys to CBS News. The deal is said to be on the 1-yard line.

A MESSAGE FROM OUR SPONSOR

This is how bp does convenience.

bp added $190+ billion to the US economy over the last three years. Like adding more than 300 TravelCenters of America sites to our retail network. With our on-highway locations spanning the entire US, we can bring more quality fuel, charging and food to customers. It’s just one of the ways bp is investing in America.

WASHINGTON

Republicans are lurching toward an explosive showdown with Democrats, the public, and each other over the president’s so-called pocket rescissions. How the Senate majority leader handles the blowback, and a looming government shutdown, could impact the midterms and the future of Congress itself.

WALL STREET

Even in remote Wyoming, at a private gathering of august business leaders, academics, and political wisemen, Trump was inescapable. Yet as Niall Ferguson argued, the president’s shocks to the rules-based global order are merely… Nixonian.

FASHION

Estée Lauder’s nearly 80-year-old flagship brand showed some signs of life with a strong second quarter. Great. But the fate of Stéphane de La Faverie’s corporate turnaround will require that the parent company’s other 24 brands actually lead the way.

A MESSAGE FROM OUR SPONSOR

This is how bp invests in America.

bp supports ~300,000 US jobs. America is home to our largest workforce in the world, from the retail stations you know, to places you might be less familiar with – like refineries, offshore production platforms, bioenergy facilities and trading floors. See all the ways bp is investing in America.

ART

In the aftermath of side-deal-gate, a number of sources emerged to offer a more nuanced view of the economics that might compel a Sotheby’s dealer to treat their employer more like a platform than a partner. Maybe that’s the future Patrick Drahi has been envisioning all along.

WASHINGTON

Bill Cohan joins Peter to dissect Trump’s hands-on meddling in the private sector from his White House perch—picking corporate winners and losers, carving out slices of deals, and steering federal dollars into equity stakes in major companies. As Bill explains, Trump’s motivations remain murky, beyond projecting himself as America’s ultimate dealmaker—often at the expense of taxpayers and shareholders alike.

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