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THE LATEST ARTICLES
William D. Cohan
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October 12, 2025
Washington’s Wet Hot Crypto Summer
An illuminating conversation with Chris Land, the general counsel to Wyoming Senator Cynthia Lummis, about the Genius Act—the potentially game-changing stablecoin legislation that nobody’s talking about.
William D. Cohan
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October 8, 2025
Should Zaz Kiss Off the Ellisons?
To defend against a Paramount Skydance takeover, David Zaslav will need to prove that splitting up Warner Bros. Discovery will be more valuable for shareholders than selling everything to the Ellisons. According to analysts, he’s got a good case.
William D. Cohan
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October 5, 2025
The Ellison Takeover Whisper Theater
It’s been nearly a month since news broke that Paramount Skydance was considering a bid for Warner Bros. Discovery—a fraught period that has allowed analysts and veteran Wall Street hands to opine, publicly and privately, on the potential deal and whether it should go the distance.
William D. Cohan
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September 28, 2025
The Silence of the Ellisons
An inside view into the kremlinology of the Ellison–WBD deal—the surprising comms plan, the eerie post-announcement silence, and the unintended consequences pertaining to the final price.
William D. Cohan
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September 24, 2025
Goldman’s Man Up North
News and notes on Canadian prime minister and Goldman alum Mark Carney’s view of America under Trump 2.0, and an opening interest rate salvo from the president’s new man at the Fed.
William D. Cohan
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September 21, 2025
Trump’s Intel Intervention
By directing the government to take an equity stake in Intel, followed immediately by SoftBank and Nvidia, Trump was able to boost the company’s market value by $26 billion. But the leading U.S. producer of semiconductors is still way behind on A.I., and notably short of customers.
William D. Cohan
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September 17, 2025
Ellisons of Anarchy
News and notes on the latest deal philosophies regarding the Ellisons’ unsolicited takeover bid: Larry’s liquidity, Zaz’s optionality, and the WBD board’s disposition.
William D. Cohan
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September 14, 2025
Zaz-Ellison M&A War Games
Assessing the likelihood of David Ellison’s WBD fantasies, the odds this turns hostile, and Zaz’s optionality and incentives.
William D. Cohan
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September 10, 2025
The Post-Zaz Second Marriage Fantasies
Wall Street is running the odds on what’s to become of Warner Bros. Discovery once it finishes prying itself apart. Wells Fargo analyst Steven Cahall provides an intriguing menu of options.
William D. Cohan
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September 7, 2025
The Private Ryan
In remarks at a private gathering in Wyoming, the former House speaker offered his most unvarnished commentary yet on America’s looming fiscal crisis, his beef with Trump’s tariffs, and how to get the country back on track. By the end, the audience was even joking that he should take another run at the White House.