Welcome back to The Daily Courant, your afternoon medley of Puck’s freshest reporting. First up today, Julia Alexander foreshadows how Brian Roberts’ and David Zaslav’s respective cable spinoffs could fare after being severed from Comcast and Warner Bros. Discovery. Can the likes of MSNBC, CNBC, and CNN evolve into something more than mere cable channels, or is the New York Times playbook—transforming media companies into lifestyle brands—already used up? Plus, below the fold: Bill Cohan chronicles the improbable SPAC resurgence fueled by the Trump Media entourage. John Heilemann chats with newly minted Democrat (and Florida gubernatorial hopeful) David Jolly about the president’s $400 million Qatari castle in the sky, Mike Johnson’s “big, beautiful bill,” and more. Julie Davich and Sotheby’s Old Masters guru George Wachter break down the category’s record-breaking $80 million single-owner sale coming to auction this week. Marion Maneker examines a foreboding auction trend in the aftermath of the big spring sales. And Sarah Shapiro reveals the alchemy behind a booming modern mall. Meanwhile, on the pods: Heilemann welcomes ESPN’s Pablo Torre on Impolitic to discuss Bill Belichick’s media problems and Pete Rose’s posthumous MLB reinstatement. And on The Powers That Be, Peter Hamby and Jon Kelly reunite to chew over the latest rebrand at Zaz’s Max and murmurs of a regime change at Politico’s Playbook.

MEDIA

To survive as solo companies, Versant and the seemingly inevitable WBD spinco will need to transform their news media brands—MSNBC, CNBC, CNN, etcetera—into something more than mere cable channels. Is the New York Times playbook already used up? Read Now

WALL STREET

The impish finance types who create ghost companies, then take them public through an I.P.O. with nothing more than a promise and a wink, have been busy this year—including the three geniuses behind what became the $5.6 billion Trump Media & Technology Group. Read Now

WASHINGTON

David Jolly, the former Florida Republican congressman turned independent anti-Trump pundit, has just registered himself as a Democrat ahead of an all-but-certain run for governor of the Sunshine State. He dishes on the Qatar plane deal, the “big, beautiful bill,” and what Dems are actually doing right. Read Now

ART

George Wachter, a Sotheby’s lifer who has long led its Old Masters department, is overseeing the category’s most valuable single-owner sale ever this week. We spoke about dirty old paintings, Victoria Beckham, and how the art market has (and hasn’t) changed during the past 50 years. Read Now

ART

The big spring sales have come to a close, leaving in their wake a distinctly unremarkable impression: Good works are selling, but there’s a limit to how high prices will go—and how far anyone is willing to stick their neck out, even for something they believe in. Read Now

FASHION

News and notes on the psychology behind a successful shopping mall, a sporty new kids line from Shenzhen, and why two sports retailers are consolidating. Read Now

WASHINGTON

Pablo Torre, ESPN and MSNBC commentator and host of the Edward R. Murrow Award–winning video podcast Pablo Torre Finds Out, is back with John to weigh in on an assortment of red-hot stories at the intersection of sports, culture, and politics: from the backlash in Canada against Wayne Gretzky over his association with Donald Trump and the reinstatement of Pete Rose by Major League Baseball (and Trump’s rumored role in the decision) to the calamitous collision between Bill Belichick’s private and public lives. Listen Now

SPORTS

Eric Shanks, C.E.O. and executive producer of Fox Sports, joins John to break down the state of IndyCar, five races into the season. Eric reflects on the sport’s deep-rooted nostalgia, its future-facing momentum, his efforts to build a bridge between IndyCar and NASCAR, and how he’s “Fox-ified” the event for modern audiences. Then Eric outlines the company’s D.T.C. ambitions with Fox One—and how Fox’s strong portfolio is drawing interest from advertisers. Listen Now

MEDIA

The renaming of Max offers Jon Kelly and Peter a chance to recall some of David Zaslav’s greatest streaming follies during the WBD era. The duo also chew over murmurs of regime change at Politico’s flagship Beltway property. Listen Now

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