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PREVIEW VERSION
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Jon Kelly
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Good morning,
Thanks for reading The Backstory, your weekly review of the best new work at Puck.
It was an incredible holiday week: Matt Belloni scrutinized the metastasizing Blake Lively-Justin Baldoni legal-P.R. quagmire and Eriq Gardner foreshadowed the next phase of the dispute; Dylan Byers assessed
The Washington Post’s yuletide musical chairs and Bill Cohan presaged the cable M&A coming in the new year; Lauren Sherman chronicled Calvin Klein’s latest upscaling; Rachel Strugatz wondered aloud if Glossier will find a buyer in ’25; John Ourand relayed a Netflix sports rights shocker; and Marion Maneker got to the bottom of the Sotheby’s nightmare. Meanwhile, Peter Hamby
evaluated the contours of the Democrats’ post-MSNBC playbook, and Tara Palmeri contemplated the limits of Trump’s executive power.
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Check out these stories, and others, via the links below. And stick around
for the backstory on how it all came together.
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FASHION
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Lauren Sherman
analyzes Calvin Klein’s return to the runway.
and…
Lauren, Rachel Strugatz, and Sarah Shapiro hypothesize
about the future of Blake Lively’s haircare line, Glossier’s exit, and more.
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ART MARKET
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Marion Maneker
wades deeper into the Sotheby’s disaster.
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HOLLYWOOD
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Matt Belloni
explores the Baldoni–Lively–Steph Jones smear scandal.
and…
Eriq Gardner ponders the fate of the widening legal fracas and
previews the Murdoch-Prince Harry slugfest.
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WALL STREET
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Bill Cohan
plays out the Comcast spinoff scenarios and maps Zaz’s endgame options.
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SILICON VALLEY
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Baratunde Thurston
envisions A.I.’s impact on the financial services industry, presented by Meta.
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MEDIA
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Dylan Byers
measures the Post’s collateral damage.
and…
John Ourand scoops a Netflix bidding war surprise.
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WASHINGTON
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Peter Hamby
deciphers the left’s post-Maddow political playbook.
and…
Tara Palmeri gets an overview of Trump Unitary Executive
Theory.
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PODCASTS
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Dylan and David Axelrod
discuss the political podcast universe’s divisiveness era on The Grill Room.
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Constance Schwartz-Morini, the C.E.O. of SMAC Entertainment,
recounts Deion Sanders’ media evolution to John Ourand on The Varsity.
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John Heilemann and Sen. Chris Murphy
interrogate Trump’s stated plans for his second term on Impolitic.
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Matt invites producer Peter Jaysen to
detail the backstory of A Complete Unknown on The Town.
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Tara and presidential-power maximalist John Yoo
plot out Trump’s constitutional limits on Somebody’s Gotta Win.
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Lauren and Harper’s Bazaar executive editor Leah Chernikoff
offer up a recent history of designer musical chairs on Fashion People.
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Peter and I consider the NFL’s war on Christmas on The Powers that Be.
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Last Friday, I whipped out a favorite old royal blue Hermès tie,
hastily constructed a four-in-hand knot, brushed the lint off a trusty Brooks suit, and started off for a special evening in Washington, D.C.—the final media pals holiday party of the Biden era.
The executive mansion is a short trot from The Riggs, my second home in the capital, and the historic building emerges only gradually upon approach among the low-slung mix of neoclassical piles that defined
postcolonial Washington and the sleek, Lego-like office mini-towers that dominate the modern vista. The architectural dialogue between past and present is a defining leitmotif of the town, and it’s rarely more punctuated than during the interregnum between administrations. As my wife and I queued up to enter the building along 15th Street—a slithering relay through various Secret Service checkpoints—we overheard a number of other well-wishers wonder aloud whether Trump would
continue the party next year. (During his first administration, he’d moved off the event after the first year.) It was a valid question, and a light reflection, perhaps, of a little media myopia.
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Inside, the grand ballroom and salons were exquisitely
decorated with stunning white lighting, holiday bells dangling from red ribbons, and miniature silhouettes of dove-like creatures floating above us. It was beautiful: the Ralph Lauren-ized vision of America that we all hold somewhere inside of us, amid the official portraits of the officeholders and their spouses. The White House staff usually moves the artwork around, but I was able to spot the depictions of both Obamas, Lady Bird, Hillary,
Bill, Eleanor, the famous image of Lincoln, and both portrayals of Kennedy—the one painted before that day in Dallas, and the subsequent one with his eyes askance.
Mingling throughout were CNN anchors, NBC News stars, Washington Post columnists, Atlantic cover story artists, the founders of Axios, Puck cinematic
universe fixture Sally Buzbee, my buddies from BPI, etcetera. It was a rare night in Washington, refreshingly devoid of cynicism and filled with the promise of citizenship. Everyone in that room, more or less, had vociferously criticized the president on their air or in their copy—for being selfish, for holding on too long, for pardoning Hunter, for effectively handing the people’s house back to Trump—and yet, they all wanted to gather to shake his hand a final
time and wish him well on his journey back to private life. Meanwhile, the senescent president could have easily declined the event this year on account of his travels, the exigencies of winding down his administration, or some other passable white lie. (Trust me, social Washington was already aflutter with commentary about the fact that the Bidens were throwing fewer holiday parties this season…) Instead, he manned the rope line, greeting hundreds of well-wishers with a firm, if frail,
handshake.
As I prepared to disembark to the real world, I exchanged holiday greetings with Ben LaBolt, the affable and innovative White House communications director, who is seemingly off to the higher calling of the private sector. He had the look of a man at the end of a long journey—pensive, tired yet restless, slightly uncertain but filled with curiosity. What a nice way to
greet the new year, I thought to myself.
These sorts of passages are the true theme of Washington—and beyond. We’re in for a brave new world starting next month, and the plotlines are already being clearly delineated by my generationally talented partners at Puck. In a series of characteristically brilliant pieces, Lauren Sherman has already defined the new domestic theaters of intrigue in the
fashion world: The Treaty of Versace outlines Capri C.E.O. John Idol’s desire to course-correct his conglomerate’s future amid the rubble of the failed Tapestry merger; in Calvin… Or
Nothing, Lauren distills the essence of an American fashion icon’s second attempt to reestablish its runway status. Similarly, in Sotheby’s Christmas Retreat, Marion Maneker gets to the bottom of the controversy roiling the world’s oldest auction house—a risky new fee structure that backfired spectacularly.
In SpinCo City, Bill Cohan explains the M&A chess moves available to both Brian Roberts
at Comcast and David Zaslav at Warner Bros. Discovery. John Ourand documents a thrilling inflection in the sports media world via his incisive Netflix’s Next Step Toward World Domination. And in a story that is both electrifying and haunting, Matt Belloni’s epic
Hollywood’s Villains of the Year Are the ‘It Ends With Us’ Publicists unravels the plot that promises to be the town’s biggest scandal of the year—or at least the quarter.
But if you only have time to read one piece this weekend, I’d suggest Eriq
Gardner’s truly excellent foreshadowing of a seismic legal battle that threatens to reset the culture. In Murdoch v. Prince Harry: “They’re Going to Try to Destroy Him,” Eriq wades into the nuanced drama playing out between the media mogul’s U.K. tabloid dynasty, the palace, and the exiled prince of Montecito. The stakes
are enormous, financially, but also in terms of accountability. It’s one of the great stories of our time, and precisely what you should always expect from Puck.
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