Welcome back to The Daily Courant, your afternoon assortment of Puck’s best new reporting. First up today, Dylan Byers previews the austerity era awaiting CNN under its new steward, Gunnar Wiedenfels, the infamous McKinseyite now tasked with sweating the Warner Discovery TV assets while David Zaslav makes off with the studios and streaming divisions. Alas, even after a deeply depressing few years for what was once considered the most trusted name in news, the network’s darkest days might still lie ahead… Plus, below the fold: Leigh Ann Caldwell uncovers the G.O.P.’s charm offensive to woo Sen. John Fetterman to their side. Julia Alexander digs into Netflix’s ad strategy—and the delicate dance to grow revenue without cannibalizing its subscriber base. Bill Cohan fixes his green eyeshades to scrutinize the GunnarCo debt stack. And Rachel Strugatz chronicles Shiseido’s post-acquisition struggle to revive beauty brand Drunk Elephant. But wait, there’s more! For Inner Circle members, Marion Maneker talks to Paula Cooper Gallery’s Steve Henry and Christie’s Sara Friedlander about the pseudo-alliance between galleries and auction houses. And on The Powers That Be, Julia and Eriq Gardner discuss why the Baldoni-Lively case could be a harbinger for the next wave of Hollywood lawsuits.

With the industry in inexorable decline, ratings at a nadir, and younger audiences turning to YouTube and TikTok, Gunnar Wiedenfels will inevitably look at CNN and decide he can maintain relatively similar profits at a mere fraction of the cost. This is the beginning of the end. Read Now

The arc of the formerly progressive senator’s career has bent more and more toward the right, and away from his own party. Would he actually jump ship? Read Now

The leading streaming service is trying to crack the advertising code without cannibalizing its own 300 million-strong subscriber base. It’s kind of, sort of, working. Read Now

Now that WBD is splitting in twain, a series of complex deals—a $17.5 billion bridge loan, a syndication, bond buybacks, etcetera—are about to commence… all likely in the name of future transactions. Let the games begin. Read Now

How a viral-hit bronzer, post-exit blues, and Shiseido’s bungling of the clean beauty pioneer sobered up Drunk Elephant. Read Now

The old art-world truisms about the diverging interests of auction houses and galleries were overdue for a revamping. So I corralled Paula Cooper Gallery’s Steve Henry and Christie’s Sara Friedlander to hash things out. Read Now

Eriq Gardner joins guest host Julia Alexander to discuss the latest twist in the Baldoni-Lively saga, after a judge tossed most of Baldoni’s claims. Eriq breaks down what the ruling really means, whether Lively’s partial legal win might embolden other stars to take a stand, and how this case could be a harbinger for the next wave of Hollywood lawsuits. Listen Now

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