• 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, our weekly capsule of the best new work at Puck.
 ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ 
The Backstory
The Backstory

PREVIEW VERSION

Join today and receive 21% off your first year with promo code PUCK21.

Good morning,

Thanks for reading The Backstory, our weekly capsule of the best new work at Puck.

It was an incredibly busy week at Puck: Julia Ioffe flew around the world with General Mark Milley; Bill Cohan presaged a mega media M&A deal; Dylan Byers foreshadowed the next battle at CNN; Teddy Schleifer dug into whether Biden will nominate Katzenberg as his finance chair; Tina Nguyen lurked into the Tucker Carlson bunker; Matt Belloni sorted through the Jeff Shell shrapnel; Lauren Sherman untangled some RealReal drama; and Eriq Gardner previewed Rupert Murdoch’s next legal headache.

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

Learn More
A MESSAGE FROM OUR SPONSOR
A MESSAGE FROM OUR SPONSOR
bp’s businesses contributed $70bn to the US economy in 2022. The US is home to our largest workforce in the world, and we’ve invested $140B+ in the national economy since 2005.

We support 240,000+ jobs here. From producing oil and gas to developing wind and solar farms to creating biogas and beyond, bp supports hundreds of thousands of American jobs. bp is working to deliver the energy America needs today while developing lower carbon alternatives.

See how we’re Investing in America.

FASHION:
Lauren Sherman invokes the private equity vultures circling the fashion industry.

WALL STREET:
Bill Cohan conveys the deal logic for a Zaz-Brian Roberts WBD-NBCU mega merger.

MEDIA:
Eriq Gardner reveals what’s next on Rupert Murdoch’s legal docket.
and…
Dylan Byers captures the zeitgeist at CNN under a year of Zaz Rule.
and…
Tina Nguyen penetrates the Tucker Bunker.

HOLLYWOOD:
Matt Belloni envisions the next steps in the Jeff Shell shocker.
and…
Julia Alexander compares the strategies of Peacock, Par+, and Hulu.

WASHINGTON:
Teddy Schleifer breaks the news on Biden’s $2 billion fundraising apparatus.
and...
Julia Ioffe gets General Milley’s unvarnished views on Ukraine.

PODCASTS:
Matt and Ben Winston envision the future of late night on The Town.
and…
Ben Landy and Eriq Gardner discuss the next Fox News lawsuits on The Powers That Be.

Meanwhile, I also encourage you to take advantage of our article gifting feature. You can share our work with your colleagues, friends, and family. Subscribers are entitled to 5 article gifts per month.

Sponsor
The Room Where It Happens
On Wednesday afternoon, I headed down to Washington for a dinner in celebration of my partner, Dylan Byers, right smack dab in the middle of the prelude to the White House Correspondents Association dinner.

What once began as a somnolent log-rolling Saturday evening tux-and-gown affair in the Hilton ballroom, attended by the media and the government officials that they held accountable, has since morphed into a veritable D.C.-shaped Mardi Gras of pronounced duration. The days preceding the dinner now offer a cavalcade of “the night before”-style events, as if this were the Oscars on the Potomac. Nearly every media organization throws its own swell bash leading up to the big enchilada: there’s the CAA event, the UTA party, the Axios after hours soirée, the Politico embassy soirée, the famous Tammy Haddad luncheon, the CNN next-day hangover brunch, and so it goes.

Dylan, the best media reporter in the business, is usually the toast of the town during this week. After all, he’s worked at many of these institutions, and usually has a better beat on what’s going on inside their walls than their own employees. It’s not unusual to hear someone introduce themself to Dylan at a party and then ask if their contract is being renewed. Anyway, we decided to convene a small mid-week Puck Private Dinner of media executives and political operatives to commence the rolling celebration, toast Dylan, and trade stories and views about the business.

The private dinner is a new-ish product innovation at Puck, a chance to bring our network and audience closer together than ever before. My partner Matt Belloni created the innovation months ago with a private event at the home of producer Jason Blum that was attended by various industry leaders. Our other partner, Lauren Sherman, also hosted a Puck Private Dinner earlier in the week that was attended by fashion industry C.E.O.s and luminaries. Dylan’s dinner was held at the historic and ageless Jefferson Hotel, on 16th and M, not far from the rush of K Street and the White House.

After a festive and effervescent cocktail hour, a group of the most influential media leaders, founders, brilliant journalists, messaging maestros and D.C. legends sat around the table and talked shop. Of course, I can’t get into the details—these private dinners are strictly off the record—but I can relate that it was refreshing to see that some of the wisest and sharpest minds in the business are dealing with the same challenges, such as the decline of the liner bundle, the rise of the influencer model, and the looming threat of generative A.I., like ChatGPT. Our business is transforming before our eyes, and we’re all trying to iterate in real time. It was reassuring to hear members of this august crowd share their candid views.

And, yes, there was some gossip. This past week, after all, was filled with some of the more stunning media news in recent quarters: Jeff Shell’s ouster at NBCU, Tucker Carlson’s defenestration at Fox News, and Don Lemon’s parachute from CNN. As an added reminder that life is unpredictable: Lemon has hired the litigator Bryan Freedman, whose defense of Chris Cuomo eventually facilitated an internal investigation that eventually forced Jeff Zucker to resign from the network after it became clear that he was involved in a relationship with company C.M.O. Allison Gollust. Meanwhile, Lemon also hired Gollust, a highly respected messaging expert, to handle his P.R., pitting the two in an optical battle against the regime that replaced Zucker. Truth is stranger than fiction.

CNN may have come up at our dinner, but if you really want to know what’s going on at the network, I encourage you to find time this weekend to read Dylan’s latest masterpiece, The Worldwide Leader in Zaz, which documents the network’s performance in its first year under David Zaslav’s WBD. And if you’re trying to imagine the next phase of evolution in the industry, I’d suggest finding time, too, to sit down with Bill Cohan’s scintillating analysis of a potential future M&A combination for WBD. The Post-Shell WBD-NBCU M&A Fantasy artfully examines the contours and shape of the idea with depth and rigor, once again demonstrating Bill’s peerlessness in the art of Wall Street coverage. Indeed, it’s the story of our time, and particularly the sort of work that 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.

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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
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 29, 2023
The Navalny Prisoner Swap Deal That Wasn’t
Thanks for reading The Backstory, our weekly capsule of the best new work at Puck.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  PREVIEW VERSION Join today and receive 21% off your first year with promo code PUCK21. Good morning, Thanks for reading The Backstory, our weekly capsule of the best new work at Puck. It was an incredibly busy week at […]
John Ourand • April 29, 2023
The Season of Pitaro Magical Thinking
Thanks for reading The Backstory, our weekly capsule of the best new work at Puck.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  PREVIEW VERSION Join today and receive 21% off your first year with promo code PUCK21. Good morning, Thanks for reading The Backstory, our weekly capsule of the best new work at Puck. It was an incredibly busy week at […]
Marion Maneker • April 29, 2023
Art Market Shocks & Leon Black’s Math
Thanks for reading The Backstory, our weekly capsule of the best new work at Puck.  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌  PREVIEW VERSION Join today and receive 21% off your first year with promo code PUCK21. Good morning, Thanks for reading The Backstory, our weekly capsule of the best new work at Puck. It was an incredibly busy week at […]


John Ourand • April 29, 2023
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