Gwyneth’s Retail Gambit, The Cardinale Rule, Karine’s Credibility Crisis

Welcome back to The Daily Courant, your afternoon assemblage of Puck’s latest reporting.

First up today, Bill Cohan hears from Gerry Cardinale about the pent-up post-Paramount deal energy consuming the RedBird/Skydance camp, the Ellison anointment, the heavy NAI carrying costs, and much more.

Plus, below the fold: Dylan Byers dissects the fresh drama feeding the Biden media circus. Rachel Strugatz scoops Goop’s latest brick-and-mortar play and the executive shuffle at Pat McGrath Labs. Abby Livingston deciphers what Nancy Pelosi was really saying on Morning Joe. On The Town, Matt Belloni and Crazy Rich Asians director Jon M. Chu break down his career-altering theater gambit. And on The Powers That Be, Dylan rings up Peter Hamby from Sun Valley to reveal all the latest Biden chatter.

WILLIAM D. COHAN

An assessment of the dynastic saga, the heavy NAI carrying costs, the Ellison anointment, and simultaneous challenge of growing the business while eliminating $2 billion in carrying costs. “It’s a huge commitment,” Gerry Cardinale, the founder of RedBird Capital, told me on Tuesday.

DYLAN BYERS

News and notes on the media inside conversation amid the continuing Biden fallout: George’s man-on-the-street confession, Karine’s credibility crisis, and lessons from 2016.

RACHEL STRUGATZ

News and notes on the latest beauty industry chatter: Goop’s brick-and-mortar expansion, and the executive shuffle at Pat McGrath Labs.

ABBY LIVINGSTON

The speaker emerita quickly backpedaled her comments on MSNBC. But Democratic operatives, members, former members, and leadership aides all interpreted her remarks as cloud cover for members to speak their conscience about Biden.