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 Good afternoon, I'm Dylan Byers.
Welcome back to In the Room, my private email on the inner workings of the American media. I just spoke to Ben Smith and Justin Smith about the surprise announcement of their new media venture, and their ambition to create the “leading, multi-platform news brand for the whole English-speaking world.” Full details on their grand plan below, for subscribers. Thanks as always for interest in Puck, and please feel free to reach out anytime. If you'd like full access to my latest reporting, simply sign up here.
 Despite the sudden, and seemingly out-of-nowhere news that Ben Smith was leaving the Times, and that Justin Smith was stepping down as C.E.O. of Bloomberg Media, the Two Smiths had been quietly discussing their new media ambitions, on and off, for years. And it may take a decade to pull off. I chatted with the Smiths on the day of their big reveal. Earlier this week, Ben Smith notified New York Times executive editor Dean Baquet that he was going to be leaving the company to pursue something different. On some level, the news couldn’t have been a shock. For months, in-the-know media people have been kibitzing about Smith’s potential next moves...
FOUR STORIES WE'RE TALKING ABOUT  Part II of my year-end list of the 22 boldest, totally bankable, 100 percent probable predictions from true industry insiders. MATTHEW BELLONI  David McCormick is the G.O.P.’s fantasy candidate of a bygone, bipartisan, pre-Q era. But can he placate the Trumpists in PA? TINA NGUYEN  Many of the hopes for a resurgent 2021 in the media business didn’t come to pass, but the year was hardly a disaster. BRIAN MORRISSEY  The Athletic has entered exclusive deal negotiations to sell to the Times. Should it? DYLAN BYERS
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