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In The Room
Range Rover
Dylan Byers Dylan Byers

Greetings from Los Angeles, and welcome back to In the Room. Warner Bros. Discovery shareholders will cast their votes on David Ellison’s acquisition of the company tomorrow morning. Surprisingly, Polymarket still has Paramount’s likelihood of closing the deal at just 70 percent.

I’m en route to Washington tomorrow, and look forward to seeing many of you at the weekend’s myriad dinners, parties, and brunches—including our pre-dinner Puck Penthouse party on Saturday and our recently announced, lavish Air Mail event at the Ned on Sunday. Meanwhile, I’ve just been informed that I’ve been eighty-sixed from not one, but two events this weekend. If you can correctly guess the two fragile media execs who nixed my invitations, I’ve got a status-defining item of Puck merch—hat, banker bag, Air Mail mug, you name it—coming your way. In tonight’s issue, news and notes on Bari Weiss’s big weekend in Washington. While fourth-estate purists bemoan the diminishment of press freedoms under Trump, Bari and her boss David Ellison will be breaking bread with some of the administration’s most visible press antagonists. The outrage doesn’t faze them. Indeed, that may be the point. 🎙️ Plus, on the latest episode of The Grill Room, Ben Collins, C.E.O. of The Onion, joined me to explain the company’s masterful Infowars takeover, its pivot to user-supported media, and the business of satire. Follow The Grill Room on Apple, Spotify, or wherever you prefer to listen. Also mentioned in this issue: Marc Andreessen, Casey Wasserman, Larry Ellison, Mark Lazarus, Patrick Whitesell, Shawna Thomas, Rebecca Kutler, David Chalian, Erik Torenberg, Stephen Miller, Pete Hegseth, Joe Biden, Valerie Jarrett, Oliver Darcy, Tony Dokoupil, Markwayne Mullin, Tulsi Gabbard, Jeanine Pirro, Brendan Carr, and more…
 

Open Tab

  • Who wants Wasserman?: We now have a full list of suitors for Casey Wasserman’s talent agency, which he rebranded as “The Team” after his decades-old emails with Ghislaine Maxwell forced him to put the business on the auction block. United Talent Agency, which is among the most aggressive potential acquirers, could use Wasserman’s music-heavy client list (Ed Sheeran, Coldplay, Kendrick Lamar, etcetera) and sports marketing vehicle to diversify its business. Another intriguing potential buyer is Patrick Whitesell, the former Endeavor chairman who is now building his own business with $250 million in backing from Silver Lake. A handful of private equity firms are also at the table, per the Journal, including Permira, New Mountain, and TA Associates. The deal would reportedly value The Team at around $3 billion, based on $200 million in EBITDA.

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  • Versant’s Vox hunt: Mark Lazarus’s Versant is still pursuing an acquisition of the Vox Media Podcast Network, as I noted last week. Mark is in a somewhat advantageous position here since Versant already has a 20 percent stake in Vox, which it inherited from NBCUniversal during its spinoff. That puts Mark in a win-win position: He either pays fair price for the podcast network, or he takes a portion of the cut from a suitor who’s willing to pay more. In that case, he’d have a little extra coin in his pocket to pursue other targets, like, say, Crooked Media or The Bulwark.
  • Speaking of Vox…: No updates yet on who’s going to buy New York magazine. If you know anything, please reach out!
  • Shawna to MS: Shawna Thomas, the former CBS Mornings executive producer, is joining Rebecca Kutler’s MS NOW as political director, which is about as good a landing as she could’ve asked for in the current climate. Shawna will serve in a David Chalian–style role, leading the network’s political coverage while also appearing on air.
  • And finally… No, I’m not sitting out this week’s X discourse on Marc Andreessen and Erik Torenberg’s new TBPN clone, Monitoring the Situation. In fact, Julia and I have devoted a whole episode of The Grill Room to it. That’ll post here on Friday.

And now, the main event…

The Weiss House

The Weiss House

While fourth-estate purists bemoan the diminishment of press freedoms under Trump, CBS’s Bari Weiss and David Ellison will be breaking bread over White House Correspondents’ Association weekend with two of the administration’s most visible press antagonists. Cue the outrage… but that’s the point.

Dylan Byers Dylan Byers

On Thursday evening, CBS News chief Bari Weiss will join her boss David Ellison and various other Paramount executives at the Institute of Peace in Washington for an invitation-only dinner honoring President Trump, who settled his infamous lawsuit with the network only about 10 months ago, and her political correspondents. Two nights later, at the White House Correspondents’ Dinner, she will host Trump advisor Stephen Miller and Defense Secretary Pete Hegseth, two of the administration’s more outspoken media antagonists, as guests at the CBS News tables. Naturally, as ceasefire talks with Iran stall and gas prices rise, this is the talk of the town.

Like most networks, CBS News invites White House cabinet members to the dinner every year. Past administration officials have been similarly honored and entertained by news organizations during WHCD weekends past—during the Obama years, of course, Joe Biden or Valerie Jarrett entered the bygone Vanity Fair afterparty to great fanfare. But in light of this administration’s myriad attacks—lawfare, investigations, restrictions—and its combative stance toward the press, as well as the general discomfort surrounding CBS’s direction under Bari, the reactions among the media in-crowd have been decidedly more mixed.

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Indeed, as you may have heard, CBS’s overtures to the administration have amplified many insiders’ latent misgivings about the network’s direction under David and Bari. They’ve also given the broader Washington press corps a focal point for its anxieties about Trump’s own attendance at this year’s dinner. As Oliver Darcy, the industry’s most reliable chronicler of this genre, put it: “Why should the WHCA honor a president who demonizes journalism itself?” In the absence of a compelling answer, the press corps’ brave solution to this dilemma has been to wear pins honoring the freedom of the press. Oliver is also selling shirts.

Center Broadcasting System

Unsurprisingly, none of this handwringing has fazed David or Bari, both of whom seem to appreciate the strategic imperative of keeping the president in their good graces and are enjoying the light buzz of keeping the Washington gossip circuit in full throttle. David, of course, is on the precipice of acquiring Warner Bros. Discovery, while his father, Larry, just landed majority control of TikTok’s U.S. operations in a sweetheart deal. Bari, meanwhile, is quite obviously trying to pull CBS News toward an imagined center of the political spectrum, where 70 percent of Americans allegedly don’t care whether the president is attending the annual Nerd Prom. The existence of this mythical “70 percent” isn’t exactly borne out by the polling data, but we don’t need to litigate that here. Nor do we need to point out that most of them are already consuming news and media from nontraditional sources who largely scratch this itch—and who have been doing it for so long that the opportunity for Bari probably no longer exists. (Just sayin’…)

Fourth-estate purists have ample reason to bemoan Bari’s plan, but they shouldn’t ignore the strategic rationale, either. In TV news, only Fox has fortress business strategies, and David has enlisted Bari to play for that audience. In fact, despite her rocky start in the C-suite, I was told this week that he still hopes she can help CNN earn some of that audience after Paramount acquires WBD. Not only would that elicit veritable war crimes in Hudson Yards, but it might also overestimate her affinity for the medium. Tony Dokoupil’s Evening News continues to plumb new depths in the ratings; last week, it averaged 3.8 million viewers, and less than 500,000 in the demo. But surely there are many other more-subtle ways of courting an administration than by inviting two of its most aggressive press critics to your table. (Though, yes, I’m sure they’ve considered some of those paths, too.) Fox News, I’m told, will host D.H.S. Secretary Markwayne Mullin, Director of National Intelligence Tulsi Gabbard, and U.S. attorney and former Fox News host Jeanine Pirro—none of whom, for what it’s worth, loom quite so large in the nightmares of the national press corps. But if you’re trying to signal your editorial shift to both the president and the general public, subtlety isn’t really the point. (On a related note, Brendan Carr, the F.C.C. chair with a penchant for threatening broadcasters, is also attending this year’s dinner—a guest not of CBS or Paramount, he told me, but Gray TV, a local broadcast group.) It’s unclear, however, what all this signaling actually does for CBS News. Fox didn’t build its success on proximity to power, but rather ideological clarity. Meanwhile, it’s not obvious whether Bari’s CBS is truly motivated by a nonpartisan ideal or her own heterodox whims—or, sometimes, simply a desire to flip off the sanctimonious crowd that will outnumber her at the Hilton on Saturday night. Either way, the veteran correspondents and producers who came up in the pre-Trump era of center-left institutional neutrality are going to have a tough time squaring their own instincts with a leadership team that seems increasingly comfortable blurring the lines between access, optics, and strategy. And yet, as David and Bari see it, if they’re really uncomfortable with that, they can take their pins and leave.
Fashion People

Puck fashion correspondent Lauren Sherman and a rotating cast of industry insiders take you deep behind the scenes of this multitrillion-dollar biz, from creative director switcheroos to M&A drama, D.T.C. downfalls, and magazine mishaps. Fashion People is an extension of Line Sheet, Lauren’s private email for Puck, where she tracks what’s happening beyond the press releases in fashion, beauty, and media. New episodes publish every Tuesday and Friday.

The Varsity

A professional-grade rundown on the business of sports from John Ourand, the industry’s preeminent journalist, covering the leagues, players, agencies, media deals, and the egos fueling it all.

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Netflix–Paramount Meddling

Netflix–Paramount Meddling

ERIQ GARDNER

Trump’s Comms Crisis

Trump’s Comms Crisis

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