• Washington
  • Wall Street
  • Silicon Valley
  • Hollywood
  • Media
  • Fashion
  • Sports
  • Art
  • Join Puck Newsletters What is puck? Authors Podcasts Gift Puck Careers Events
  • Join Puck

    Directly Supporting Authors

    A new economic model in which writers are also partners in the business.

    Personalized Subscriptions

    Customize your settings to receive the newsletters you want from the authors you follow.

    Stay in the Know

    Connect directly with Puck talent through email and exclusive events.

  • What is puck? Newsletters Authors Podcasts Events Gift Puck Careers
Thanks for reading The Backstory, your weekly review of the best new work from Puck. It was another fabulous week at Puck: Tara Palmeri spilled on Trump’s latest Mar-a-Lago policy summit; Julia Alexander analyzed HBO under Zaz rule; Lauren Sherman parsed the Prada M&A murmurs; Tina Nguyen reported on Ronna McDaniel’s unpleasant return to the G.O.P. crying room; and Dylan Byers surveyed the post-mutiny scene inside the NBC News bunker.
 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
The Backstory

PREVIEW VERSION

Start a free 14-day trial to unlock unlimited access to Puck.

Good morning,

Thanks for reading The Backstory, your weekly review of the best new work from Puck.

It was another fabulous week at Puck: Tara Palmeri spilled on Trump’s latest Mar-a-Lago policy summit; Julia Alexander analyzed HBO under Zaz rule; Lauren Sherman parsed the Prada M&A murmurs; Tina Nguyen reported on Ronna McDaniel’s unpleasant return to the G.O.P. crying room; and Dylan Byers surveyed the post-mutiny scene inside the NBC News bunker. Meanwhile, Bill Cohan spoke with Leon Black about his other scandalous relationship; John Ourand got to the bottom of an ESPN ouster; and Teddy Schleifer revealed Larry Ellison’s pick for V.P.

Check out these stories, and others, via the links below. And stick around for the backstory on how it all came together.

Learn More
FASHION:
Lauren Sherman investigates the Prada sale speculation.
and…
Rachel Strugatz breaks news on the latest beauty industry M&A hopeful.

WALL STREET:
Bill Cohan chats with Leon Black about the affair from hell.

SILICON VALLEY:
Teddy Schleifer reports on Larry Ellison’s favored V.P. contender and Trump’s Palm Beach collection plate.

MEDIA:
John Ourand digs into Norby’s ouster at ESPN and Adam Silver’s streaming dreams.
and…
Dylan Byers annotates the various olive branches and vendettas inside NBC News.

HOLLYWOOD:
Matt Belloni interviews Adam Aron about the future of movie theaters.
and…
Julia Alexander reviews year one of the “HBO”-less “Max.”
and…
Eriq Gardner unearths one of the wackiest Hollywood accounting examples in modern memory.

WASHINGTON:
Peter Hamby considers the fatal flaw of No Labels.
and…
Tina Nguyen chronicles Ronna McDaniel’s unpleasant homecoming.
and…
Tara Palmeri identifies a distinctly Mar-a-Lago twist in the Trump veepstakes.
and...
Baratunde Thurston offers a novel carbon solution.

PODCASTS:
Matt and Imax C.E.O. Rich Gelfond discuss the complex theatrical business model pickle on The Town.
and…
Tara and Teddy discuss Nicole Shanahan, R.F.K.’s billionaire running mate, on Somebody’s Gotta Win.
and…
Peter and I weigh into Ari Emanuel’s most recent deal on The Powers That Be.

It’s Not TV…
Earlier this year, while on a quickie trip down to Washington, I met up with my then-newest partner, John Ourand, at the bar of The Smith—a largely no-frills New York transplant restaurant in the District that’s become a favorite of expat Puck employees. It was that uncomfortable late-afternoon hour between coffee and a beer, as Rick Moody once wrote, and so John and I caught up and kibitzed over Arnold Palmers like two old timers as the post-federal workday traffic began to accumulate on 9th and F. Naturally, I started peppering him with questions about his beat—a true pleasure for me since the sports media business combines two of my favorite subjects, quite literally my avocation and vocation, respectively. In particular, I asked him about a recent back-office micro-drama that had played out on the air at ESPN.

Around that time, Pat McAfee, a former NFL kicker and YouTube star turned ESPN broadcaster and host, had blasted longtime Bristol executive Norby Williamson during a segment of his semi-structured, eponymous chat show. Shockingly and discomfitingly, McAfee accused Williamson of leaking his recent unspectacular TV ratings in the media. It was a surprisingly unprofessional move, even by the evolving standards of the industry, accented by McAfee’s description of Williamson as a rat. John knows everyone at the network, starting with its affable C.E.O. Jimmy Pitaro, and so I relentlessly drilled him on the topic.

The Norby-McAfee episode, on many levels, seemed to be a microcosm of the larger secular trends reshaping the media and the broader economy—the rise of singular talent, the funny things that happen on the way to the forum when the pay TV business model is upended by streaming, and a general insecurity in the marketplace. And yet, this clash was so palpably jarring. Williamson, after all, was a long-serving talent whisperer who had cut his teeth on the iconic Patrick-Olbermann SportsCenter and returned to the show years later to clean up the SC6 mess. He was the fixer, not the person used to seeing his name in the paper.

A generation ago, ESPN would have responded to a public scrape or unpleasant on-air soliloquy by banishing those responsible to Siberia. Bill Simmons, a singular and generational talent, was excommunicated after his harsh criticism of NFL commissioner Roger Goodell—a guy who doesn’t even work at the company. Simmons got the last laugh, of course. Spotify acquired his media company, The Ringer, just before the pandemic set in. (Puck and The Ringer currently produce a pair of podcasts together.)

But this time, ESPN sided with the talent. Last week, it turned out to be Williamson’s time in the barrel. The ostensible catalyst was a growing rift between Williamson and his boss, Burke Magnus, a more future-forward executive who preached ESPN’s manifest destiny in a streaming, multiplatform world. And, yes, that’s a world where Pat McAfee is quite valuable.

In Norby or Not to Be, John lays out the complex dynamics, consequences, and stakes as only he can. And, indeed, an executive shake-up atop ESPN has never been more relevant. In the next year, the business will roll out both its new streaming service and its “Spulu” joint venture with Fox and Warner Bros. Discovery as Pitaro will openly (though quietly, and with dignity and tact) compete with three colleagues to succeed Bob Iger as the C.E.O. of Disney. Bristol kremlinology, always a favorite media parlor game, is now market-moving intelligence.

The Williamson kerfuffle, of course, was only the second-most compelling example of recent and highly public media infighting. Last month, NBC News hastily jettisoned former R.N.C. chair and newbie contributor Ronna McDaniel after Chuck Todd, Rachel Maddow, Joe & Mika et al. criticized her hiring on their shows. In Cesar Salad, Dylan Byers reports on the post-Ronna landscape within NBC News, where much of the irritation has coalesced around chairman Cesar Conde, a sophisticated yet striving corporate player, who seems to have quelled the unrest in a manner befitting the no-drama style of his bosses at Comcast in Philly. And Tina Nguyen elegantly captured McDaniel’s chilling homecoming on the right in Ronna in No Man’s Land. The story is filled with mesmerizing bon mots, but perhaps the most compelling came in the form of a quote from fellow former R.N.C. chairman Michael Steele. “It’s not about money; the power is your relationships. And she didn’t have the relationships,” he told Tina. “She was always on the bubble with Trump. People don’t get that. The man told her to stop using her family name, and she fucking did. If she had the relationships, he never would have told her to do it.”

The changing dynamics of the television business are also on display, of course, at HBO, perhaps the most storied brand in the history of the business. Julia Alexander’s excellent story It’s Not HBO, It’s Max artfully explains the complications of being a quality player in a scaled world of never-ending choice—a reality that will compel the industry leader to evolve once again.

But if you only have time to read one piece this weekend, I’d urge you to curl up with the second and final installment in Bill Cohan’s chilling and brilliant diptych on former Apollo C.E.O. and Epstein pal Leon Black. In Leon Black From the Ashes, Part II, Bill reports on the affair that led to Black’s departure from the firm he founded. It’s an astonishing story about money and power dynamics that features Paul Weiss attorneys, Four Seasons lunches, a hidden wire, an N.D.A., and the most startling negotiation you may ever come across—along with various definitions of justice and self-preservation. Indeed, in so many ways, it is the story of our time, and precisely what you should expect from Puck.

Have a great weekend,
Jon

Puck
Facebook Twitter Instagram LinkedIn

Need help? Review our FAQs
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 . To stop receiving this newsletter and/or manage all your email preferences, click here.

Puck is published by Heat Media LLC. 227 W 17th St New York, NY 10011.

SEE THE ARCHIVES

SHARE
Try Puck for free

Sign up today to join the inside conversation at the nexus of Wall Street, Washington, Silicon Valley, Hollywood, and more.

Already a member? Log In


  • Daily articles and breaking news
  • Personal emails directly from our authors
  • Gift subscriber-only stories to friends & family
  • Unlimited access to archives

  • Exclusive bonus days of select newsletters
  • Exclusive access to Puck merch
  • Early bird access to new editorial and product features
  • Invitations to private conference calls with Puck authors

Exclusive to Inner Circle only



Latest Articles

The Editors • April 13, 2024
The Week in Shopping: The Death of Barbie Pink & Thom Browne’s Palm Beach Play
An A-list documentary filmmaker panel moderated by Puck’s Baratunde Thurston
The Editors • April 13, 2024
Puck’s 2024 Guide to Mirth & Merriment
The fourth annual edition of our definitive, non-denominational holiday gift recommendations, this time with a few surprise V.I.P. guests…
Leigh Ann Caldwell • April 13, 2024
The Buildings of Madison Avenue
The macro convulsions in luxury—consolidation, tremendous profit generation, preparation for an inevitable decline—are all wrapped up in what’s happening uptown right now with the old Barneys New York building.


Rachel Strugatz • April 13, 2024
Meghan Markle’s Flamingo Estate
News and notes on the former royal’s attempt to create her own “edible oils, fats, preserves, spreads and butters” empire. What could possibly go wrong?
Dylan Byers • April 13, 2024
The Thompson Manifesto: A Sequel
As a follow-up to his original dissertation on the challenges facing CNN, Mark Thompson recently outlined a vague, pablum-filled vision of the network-cum-news-organization’s future. But is it so opaque because Thompson’s vision remains hazy, or because he doesn’t want to say the hard part out loud?
William D. Cohan • April 13, 2024
Zaz’s Bonus Math & Trump’s Banking Crisis
News and notes on the Downtown Cip table chatter: Zaz’s Paramount false flag and Trump’s increasingly cumbersome penalty financing solutions.


William D. Cohan • April 13, 2024
Wall Street Hedges Its Bet on Biden
The mandarins of high finance are now positioning their banks for the ultimate high-beta event: the return of Donald Trump.


Get access to this story

Enter your email for a free preview of Puck’s full offering, including exclusive articles, private emails from authors, and more.

Verify your email and sign in by clicking the link we just sent.

Already a member? Log In


Start 14 Day Free Trial for Unlimited Access Instead →



Latest Articles

Theodore Schleifer • April 13, 2024
The Rise and Fall of Jack and Bobby
The bizarre and totally unsurprising story of how Jack Dorsey’s advocacy for Robert F. Kennedy Jr. unnerved some members of the Block board.
Matthew Belloni • April 13, 2024
Iger’s Four Horsemen of the Succession Apocalypse
Now that Disney, under the watchful eye of Nelson Peltz, appears to have settled on a quartet of internal (yet by no means ideal) candidates, can it manage a complex process that allows for one winner without creating three sore losers?
Peter Hamby • April 13, 2024
Teenage Riot
The usual suspects in Washington fear that young voters could protest the 2024 election if Biden bans TikTok—a supposition accepted at face value by pundits, despite the available evidence. Yes, there are polls showing young people oppose a ban. But that’s not predictive of how Gen Z will vote.


Julia Ioffe • April 13, 2024
The Navalny Prisoner Swap Deal That Wasn’t
Thanks for reading The Backstory, your weekly review of the best new work from Puck. It was another fabulous week at Puck: Tara Palmeri spilled on Trump’s latest Mar-a-Lago policy summit; Julia Alexander analyzed HBO under Zaz rule; Lauren Sherman parsed the Prada M&A murmurs; Tina Nguyen reported on Ronna McDaniel’s unpleasant return to the […]
John Ourand • April 13, 2024
The Season of Pitaro Magical Thinking
Thanks for reading The Backstory, your weekly review of the best new work from Puck. It was another fabulous week at Puck: Tara Palmeri spilled on Trump’s latest Mar-a-Lago policy summit; Julia Alexander analyzed HBO under Zaz rule; Lauren Sherman parsed the Prada M&A murmurs; Tina Nguyen reported on Ronna McDaniel’s unpleasant return to the […]
Marion Maneker • April 13, 2024
Art Market Shocks & Leon Black’s Math
Thanks for reading The Backstory, your weekly review of the best new work from Puck. It was another fabulous week at Puck: Tara Palmeri spilled on Trump’s latest Mar-a-Lago policy summit; Julia Alexander analyzed HBO under Zaz rule; Lauren Sherman parsed the Prada M&A murmurs; Tina Nguyen reported on Ronna McDaniel’s unpleasant return to the […]


John Ourand • April 13, 2024
Give Me Liberty
Nearly a decade after transforming F1 into a juggernaut, John Malone’s Liberty Media is looking to employ the same makeover on its newest multibillion-dollar portfolio toy, MotoGP.

You have 1 free article Left

To read this full story and more, start your 14 day free trial today →


Already a member? Log In

  • Terms
  • Privacy
  • Contact
  • Careers
© 2025 Heat Media All rights reserved.
Create an account

Already a member? Log In

CREATE AN ACCOUNT with Google
CREATE AN ACCOUNT with Google
OR YOUR EMAIL

OR

Use Email & Password Instead

USE EMAIL & PASSWORD
Password strength:

OR

Use Another Sign-Up Method

Become a member

All of the insider knowledge from our top tier authors, in your inbox.

Create an account

Already a member? Log In

Verify your email!

You should receive a link to log in at .

I DID NOT RECEIVE A LINK

Didn't get an email? Check your spam folder and confirm the spelling of your email, and try again. If you continue to have trouble, reach out to fritz@puck.news.

CREATE AN ACCOUNT with Google
CREATE AN ACCOUNT with Google
CREATE AN ACCOUNT with Apple
CREATE AN ACCOUNT with Apple
OR USE EMAIL & PASSWORD
Password strength:

OR
Log In

Not a member yet? Sign up today

Log in with Google
Log in with Google
Log in with Apple
Log in with Apple
OR USE EMAIL & PASSWORD
Don't have a password or need to reset it?

OR
Verify Account

Verify your email!

You should receive a link to log in at .

I DID NOT RECEIVE A LINK

Didn't get an email? Check your spam folder and confirm the spelling of your email, and try again. If you continue to have trouble, reach out to fritz@puck.news.

YOUR EMAIL

Use a different sign in option instead

Member Exclusive

Get access to this story

Create a free account to preview Puck’s full offering, including exclusive articles, private emails from authors, and more.

Already a member? Sign in

Free article unlocked!

You are logged into a free account as unknown@example.com

ENJOY 1 FREE ARTICLE EACH MONTH

Subscribe today to join the inside conversation at the nexus of Wall Street, Washington, Silicon Valley, Hollywood, and more.


  • Daily articles and breaking news
  • Personal emails directly from our authors
  • Gift subscriber-only stories to friends & family
  • Unlimited access to archives
  • Bookmark articles to create a Reading List
  • Quarterly calls with industry experts from the power corners we cover