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Happy Sunday, and welcome back to Dry Powder. I’m Bill Cohan. In tonight’s edition, how Kevin Mayer and Tom Staggs’ Blackstone-backed belly flop could impact the Disney succession saga. Plus, notes on Byron Allen’s ABC bid and whether Elon can save Twitter by crashing it into the ground.
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Dry Powder

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Happy Sunday, and welcome back to Dry Powder. I’m Bill Cohan. In tonight’s edition, how Kevin Mayer and Tom Staggs’ Blackstone-backed belly flop could impact the Disney succession saga. Plus, notes on Byron Allen’s ABC bid and whether Elon can save Twitter by crashing it into the ground.

A quick programming note before we get started. I’ve been following with interest the mixed reaction to Michael Lewis’s new book about Sam Bankman-Fried, which is a departure of sorts from his past reporting on shaggy underdogs who disrupted their industries (Billy Beane, Michael Burry, Lewis Ranieri, Brad Katsuyama, even Lewis, himself). Of course, S.B.F. also started off that way—literally, in his case—before revealing himself, over the course of Lewis’s reporting, as perhaps one of Wall Street’s greatest villains.

I’m still reading Going Infinite and am scheduled to interview Michael for Puck on October 16—to appear in Dry Powder on October 18—so let’s table this analysis until after we have had our conversation and I finish reading the book (which I’m thoroughly enjoying so far). Then, I will be more than happy to join the fray surrounding the book and our favorite nemesis, S.B.F.

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Iger Succession Setbacks & Elon’s Debt Nosedive
Iger Succession Setbacks & Elon’s Debt Nosedive
A downturn at Candle Media is lowering Kevin Mayer and Tom Staggs’ altitude on the Disney C.E.O. shortlist. Plus, notes on Byron’s ABC bid and Linda’s Twitter/X mess.
WILLIAM D. COHAN WILLIAM D. COHAN
There was more than a bit of schadenfreude circulating on Wall Street this week over the fate of Candle Media, the Blackstone-backed entertainment company led by former Disney executives Kevin Mayer and Tom Staggs, which is expected to earn about 50 percent less than predicted in 2023, according to our friend Lucas Shaw at Bloomberg. Candle, you’ll recall, launched with billions of dollars in dry powder to scoop up...
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Happy Sunday, and welcome back to Dry Powder. I’m Bill Cohan. In tonight’s edition, how Kevin Mayer and Tom Staggs’ Blackstone-backed belly flop could impact the Disney succession saga. Plus, notes on Byron Allen’s ABC bid and whether Elon can save Twitter by crashing it into the ground.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  PREVIEW VERSION Start a free 14 […]

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