Netflix Exits Russia, Maggie v. Taylor, & Laurene’s Secret Guest
Welcome back to The Daily Courant, presenting the latest news from Puck.
Today, we lead with Eriq Gardner‘s fascinating reportage on the looming wave of litigation about to slam Hollywood as businesses pulling out of Russia turn to insurers to recoup their losses—potentially sparking an ugly, and not unprecedented, legal battle over what actually counts as “war.”
Plus, below the fold, Brian Morrissey reveals what the latest journalistic contretemps over “personal branding” misses about the future shape of the publishing business. And Julia Ioffe examines the grim historical antecedents of Putin‘s burgeoning pan-Slavic totalitarian fantasy.
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Russia’s horrific invasion of Ukraine is reshaping the global economy. And for Hollywood, that means one thing: a torrent of future litigation. What’s happening in Ukraine right now is unspeakably tragic. Obviously, the safety of the citizenry there is of paramount importance. What’s of lesser concern, but still consequential, is how the conflict will play out for years to come domestically. Now that businesses ranging from oil companies to Netflix are pulling out of Russia, these companies will probably soon turn to insurers to recoup their losses. That may mean that American courts will become the forum for parsing the meaning of, and decisions emanating from, Russia v. Ukraine. After all, the excommunication of Russia from the global economy will cost hundreds of billions of dollars. When McDonald’s paused its operations there, it was turning its cheek on a market that accounted for nine percent of its revenue. When Warner Bros. pulled The Batman from theaters in the country, it was forgoing the fourth-largest movie market in the world, responsible for 90 million tickets sold two years ago.
Someone’s footing the bill, and the specifics of insurance coverage could mean the difference between hitting financial targets and explaining hard global truths to investors. What’s more, in some sectors, the availability of insurance informs the willingness of financial institutions to lend on the front end for new projects. The insurance industry tries to keep on top of risk on a going-forward basis, but that doesn’t happen without a reckoning of what previously went wrong.
Probably the first big question when looking at the current Russian situation: Is it war?…
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FOUR STORIES WE’RE TALKING ABOUT 
Hastings and Sarandos’ deal with a Russian media partner with ties to Putin was already controversial, even before Putin’s invasion. MATTHEW BELLONI 
The anniversary of Stalin’s death last week was a cruel reminder inside Russia that history frequently repeats itself. JULIA IOFFE 
The latest inside reporting on Thiel’s political maneuvering—and Obama’s private visit with Laurene’s Emerson Collective. THEODORE SCHLEIFER 
A recent Twitter feud evidenced a new shift in digital media, from institutions to individuals and back toward the center. BRIAN MORRISSEY
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