Welcome back to The Daily Courant, your afternoon medley of Puck’s best new reporting.

First up today, Dylan Byers chats with people inside David Ellison’s orbit, as well as several veteran TV executives, to preview how a CNN–CBS News marriage might play out. With Ellison aiming for at least $6 billion in synergies (assuming the ParaBros merger goes through), mass layoffs are all but inevitable. So how aggressively will David wield the knife? Will he give Bari Weiss even more editorial influence despite her tumultuous start at CBS News? Who will actually run CNN? And, perhaps most apposite, how much will the specter of Trump shape it all?

Plus, below the fold: Bill Cohan catches up with oil industry guru Dan Yergin to game out the global economic shocks from the war in Iran. Rachel Strugatz reveals Glossier’s plan to resuscitate its $90 million fragrance category. Leigh Ann Caldwell investigates the source of White House WAG Katie Miller’s newfound infatuation with solar energy. And for Inner Circle members, Marion Maneker combs through exclusive data from London’s robust $550 million sales season.

Meanwhile, on the pods: Matt Belloni is joined by Vanity Fair’s Mark Guiducci on The Town to discuss the magazine’s revamped Oscar party. And on The Powers That Be, Peter Hamby and Abby Livingston diagnose the paralysis gripping Texas as Republicans John Cornyn and Ken Paxton’s battle for Senate heads to a runoff.

MEDIA

The long-awaited match made in TV news heaven is getting closer to reality. But will the matrimony of Paramount’s CBS News and Warner Bros.’ CNN produce harmony and much-needed cost-savings, or layoffs and infighting? And who is going to run the show?

A MESSAGE FROM INSTAGRAM

Instagram Teen Accounts: Automatic protections for teens

Instagram Teen Accounts have built-in protections for who can contact teens and the content they can see. Now, content settings are inspired by 13+ movie ratings, with a stricter setting available for parents who prefer extra controls.

Nearly 95% of parents say Instagram Teen Accounts help safeguard their teens. We will continue adding features to help protect teens online.

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WALL STREET

A very candid chat with oil market expert Dan Yergin on the potential unintended consequences of Trump’s war in Iran.

FASHION

After several years of fumbling around in the fragrance category, Glossier is rolling out a new scent and refocusing its marketing machine. But have they already lost too much ground to new lines and viral perfumes?

WASHINGTON

Renewable energy industry types are wondering why Stephen Miller’s wife seems to have developed a sudden interest in their field. Not that they’re complaining.

A MESSAGE FROM INSTAGRAM

Instagram Teen Accounts: Automatic protections for teens

Instagram Teen Accounts have built-in protections for who can contact teens and the content they can see. Now, content settings are inspired by 13+ movie ratings, with a stricter setting available for parents who prefer extra controls.

Nearly 95% of parents say Instagram Teen Accounts help safeguard their teens. We will continue adding features to help protect teens online.

Learn more

HOLLYWOOD

Matt is joined by Mark Guiducci, the new global editorial director of Vanity Fair, to talk about his plan for a new and improved Oscar party and why he is cutting the guest list by 50 percent. Mark talks about the evolution of the event over its 30-year history and how he plans to revitalize it, moving to a new venue, and how the world of magazines—and magazine journalism—has changed in recent decades.

WASHINGTON

Abby Livingston joins Peter to break down the state of paralysis in Texas, with Republicans John Cornyn and Ken Paxton locked in a marquee runoff for Senate—and the shadow of a potential Trump endorsement looming over it all. Then they preview next week’s consequential Democratic primaries in Illinois and what they portend for the midterm map writ large.

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