Welcome back to The Daily Courant, your afternoon digest featuring Puck’s best new reporting. First up today, Eriq Gardner offers a provocative assessment of casino magnate Steve Wynn’s circuitous bid for the Supreme Court to reconsider New York Times Co. v. Sullivan and the “actual malice” libel standard. Sure, the landmark ruling has long been a heat shield for publishers, but is the current legal framework the best we can do? Plus, below the fold: Peter Hamby picks through exclusive (and surprising) polling data on Dems’ media habits, the residual goodwill toward Kamala Harris, and some ’28 celebrity alternatives. Julie Davich offers an expert assessment of the growing market for the enigmatic surrealist Gertrude Abercrombie. And Sarah Shapiro evaluates whether fresh financing for Sarah Staudinger’s beloved, decade-old fashion brand can actually help it scale. Meanwhile, on the pods: Matt Belloni and Lucas Shaw link up on The Town to debate whether NBC will continue to finance SNL in a post–Lorne Michaels world. On The Varsity, John Ourand and CNBC’s Alex Sherman break down how leagues and networks can leverage social media to maximize profits in the streaming era. And on The Powers That Be, Eriq Gardner joins Ben Landy for a deep dive into Trump’s accelerating war on the media.

MEDIA

It was only a matter of time before Donald Trump’s newly empowered allies came after journalists. You could sense the discomfort in media quarters two weeks ago, as word spread that casino mogul and Trump fundraiser Steve Wynn had petitioned the Supreme Court to review a defamation case he filed against the Associated Press in 2018. As Eriq notes, Wynn’s ultimate goal is for the justices to reconsider the “actual malice” standard that public figures must meet to prevail in libel suits, which was established by the landmark 1964 ruling New York Times Co. v. Sullivan. Given the number of right-wing justices on the nation’s highest court, the U.S. media industry can be forgiven for worrying that SCOTUS will oblige. But could changes to the law actually be necessary in this era of internet-enabled media, where anyone can climb atop a digital soapbox? Read Now

WASHINGTON

As Democrats grapple with a conspicuous leadership vacuum, once-unthinkable celebrity political candidates—like Mark Cuban and Stephen A. Smith—suddenly have legitimate appeal. That’s among the most striking findings to emerge from the latest Puck-Echelon poll. Interestingly, as Peter notes, the intrigue surrounding leadership alternatives dovetails with shifting sentiment toward Kamala Harris, which will inevitably drive one of the Democratic Party’s main storylines in the coming year. Does she have the momentum to seek another presidential nomination, or is the California governorship more realistic? Read Now

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ART

“We live in a time when surreality is preferable to reality,” a specialist friend posited to Julie this week, offering one explanation for the surge in demand for surrealist art. Among the more surprising beneficiaries is the Chicago painter Gertrude Abercrombie, a largely self-taught artist most active in the 1940s and 1950s, called the “jazz witch” for her eccentric style and piano-playing at her weekly salons. Her market has grown steadily over the past few years—a trend that Wright and Toomey & Co. will attempt to capitalize on this Thursday, when four Abercrombie works will be auctioned as part of their Elevated: Art Via Chicago sale. Read Now

FASHION

Sarah Staudinger’s much-beloved, in-crowd-for-the-out-crowd brand, Staud, is canvassing investors for a new growth round of financing—a seemingly logical next step for the canny founder and talented designer who has already established product-market fit, is launching a new athleisure line, has a rainmaking husband, and enjoys blue chip investors, too. This new financing will presumably facilitate further growth in the brand’s established categories while ramping up its retail presence beyond its eight locations. So as her broadly appealing, well-capitalized company celebrates a decade in business, she’s seeking the right type of investors, who are in it for the right reasons. In other words: Private equity need not apply. Read Now

HOLLYWOOD

Matt is joined by Bloomberg’s Lucas Shaw to recap SNL50 and look ahead to the future of SNL in a post–Lorne Michaels world, and wonder whether NBC will continue to finance such a costly and labor-intensive show. Then they debate which streamers are under- or overpriced, based on a new streaming report that compares each streamer’s value based on hours viewed vs. subscription price. Matt finishes the show with a prediction about Kevin Costner’s Horizon franchise. Listen Now

SPORTS

CNBC’s Alex Sherman joins John for a deep dive into how leagues can maximize profits from social media engagement in the streaming era. They also wade into the brewing media rights battles between traditional networks and streaming giants, with UFC and F1’s rights up for grabs, before Alex shares his personal insights on the overall state of sports media and the business behind the games. Listen Now

MEDIA

As Trump’s war on the media accelerates, Eriq Gardner joins Ben to discuss whether the industry is headed for a state of mutually assured destruction, with MAGA allies chipping away at Times v. Sullivan’s libel shield, billionaires financing defamation battles, Elon Musk accusing his enemies of fraud, and his targets contemplating countersuits of their own. Listen Now

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