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Happy New Year! Thanks for reading The Backstory and here’s to a happy,
healthy, and prosperous 2026 from all of us here at Puck. As the rest of the
world lay in overserved torpor, my indefatigable partners were hard at work
ushering in yet another fabulous week at Puck. Matt Belloni recounted Mike
and Pam’s miraculous, Zaz-humbling, six-month run at Warner Bros. ͏ ͏ ͏
͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏
͏
Jan 3, 2026
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PREVIEW VERSION
Start a free 14-day trial to unlock access to Puck.
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Jon Kelly
Good morning,
Happy New Year! Thanks for reading The Backstory and here’s to a happy,
healthy, and prosperous 2026 from all of us here at Puck.
As the rest of the world lay in overserved torpor, my indefatigable partners
were hard at work ushering in yet another fabulous week at Puck. Matt
Belloni recounted Mike and Pam’s miraculous, Zaz-humbling, six-month run at
Warner Bros.; Bill Cohan continued his hero’s work effectively banking the
WBD deal for Paramount and Netflix; Mark Healy chatted up Reed Hastings on
art and skiing; Julia Alexander presaged Jeff Bezos’s next NFL play. And
Dylan Byers assessed the values of the Silicon Valley mogul set with Jim
Steyer.
Meanwhile, Ian Krietzberg evaluated Sam Altman’s code red; Lauren Sherman
revealed the Saks Global C.E.O.’s dethroning; Alex French profiled the pied
piper of the collectibles market; Marion Maneker toured the Jamie Dimon
galleries; Eriq Gardner previewed the end of a CAA legal war; John Heilemann
and Ezra Klein previewed the Democrats’ 2026 strategy; Julia Ioffe took
Trump and Putin to couples therapy; Abby Livingston examined the Republicans’
midterm tripwire; and Leigh Ann Caldwell gathered the latest D.M.V. gossip
as the Hill begins a new semester.
Check out these stories, and others, via the links below. And stick around
for the backstory on how it all came together.
START A FREE 14-DAY TRIAL
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FASHION
Lauren Sherman breaks the news of Marc Metrick’s defenestration at Saks.
<https://userimg-assets.customeriomail.com/images/client-env-107382/1729520868285_tbs-icon-art_01JAQQM732KCZHXS8XJBMTGS8Y.png>
ART MARKET
Marion Maneker visits the Jamie Dimon colossus.
and…
Mark Healy interviews Reed Hastings about his Storm King West.
Meanwhile…
Alex French talks shop with the king of collectibles.
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HOLLYWOOD
Matt Belloni applauds Mike and Pam’s heroic year at Warner Bros.—and wonders
aloud if the recipe can be replicated in ’26.
and…
Eriq Gardner draws up a media lawsuit roadmap for the new year.
<https://userimg-assets.customeriomail.com/images/client-env-107382/1750192320993_tbs-ai_01JXZSEWH3DSYQ0QETB525GJR3.png>
A.I.
Ian Krietzberg explains how Sam Altman boxed himself into a Google dungeon.
AIR MAIL
David Margolick chronicles Norman Mailer’s Sancho Panza.
and…
Fran Lebowitz lays down the law.
<https://userimg-assets.customeriomail.com/images/client-env-107382/1729520869437_tbs-icon-media_01JAQQM82TC2CJD5T3P72A68MN.png>
MEDIA
Dylan Byers charts the latest Bari Weiss beefs and surveys the A.I. takeover
with a seasoned media watchman.
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SPORTS
Julia Alexander hypothesizes how Amazon might take a second bite at the NFL
apple.
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WALL STREET
Bill Cohan offers the latest deal kremlinology on where Zaz and the Ellisons
are missing one another.
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WASHINGTON
Leigh Ann Caldwell captures the excitement and horror as midterm season
dawns on the Hill.
and…
Julia Ioffe gets the readout from Zelensky’s Mar-a-Lago summit.
and…
Abby Livingston digs into the Republicans’ ’26 strategy.
<https://userimg-assets.customeriomail.com/images/client-env-107382/1729520869698_tbs-icon-podcasts_01JAQQM8AY9NH956YXMPQWX3NY.png>
PODCASTS
Dylan and Julia Alexander predict CNN’s future on The Grill Room.
and…
Ourand welcomes back Marchand (!!) on The Varsity.
and…
Lauren and costume designer Stacey Battat scrutinize Sofia Coppola’s style
on Fashion People.
and…
John Heilemann and Ezra Klein review the year in politics on Impolitic.
and…
Matt and Julia discuss the biggest streaming winners (and losers) of ’25 on
The Town.
and…
Peter Hamby and I prophesy TikTok’s slippage and ponder some Times drama on
The Powers That Be.
As a reminder, you can update your profile at any time to get more stories
like these directly in your inbox. Click here to customize your email
settings.
The Metrick Opera
I spent last Sunday morning tubing up at Stratton, racing my wife and sons
in barely inflated donuts at warp speed, screaming and careening ever
downward—a juvenile yet thoroughly enjoyable way to spend a few hours of the
holiday season. As we headed to the lodge for hot chocolate, old habits had
me rummaging around my parka for my iPhone to check in on the world and, of
course, Puck. Flicking through texts, emails, and news alerts, I homed in on
a Slack message from my partner Lauren Sherman.
Line Sheet, Lauren’s industry-defining email franchise on the fashion
business, generally operates Monday through Friday and goes dark over the
weekend. But Lauren and I had planned to put Line Sheet on hiatus between
Christmas and New Year’s Day—a decision we made against our shared Calvinist
work ethic, given that the fashion industry itself essentially goes to
ground during that somnolent window. I figured that both Lauren and Line
Sheet’s audience would benefit from us planning ahead rather than
programming the knee-jerk best of… content that often fills channels as the
calendar turns.
But Lauren, as tireless as she is omniscient, was hunting up a major scoop.
She had heard from multiple sources that Saks Global C.E.O. Marc Metrick was
due to step down from the year-old, debt-saddled, multibrand retail
conglomerate. It certainly seemed like a logical outcome based on her
previous reporting: Metrick had recently missed a major meeting in Dallas;
he wasn’t communicating with typical industry contacts, as he normally
would; and a key factoring firm that helps finance brands’ orders with Saks
had paused underwriting agreements. Meanwhile, a crucial debt payment of
over $100 million loomed. I told Lauren to finish reporting it out. If she
nailed it, I promised we’d abandon our pact and send out a special edition
of Line Sheet to break this consequential news. And there I was, at last, at
the front of the hot cocoa line…
A couple hours later, I hopped on the phone with Lauren, who walked me
through her sourcing and various updates. Indeed, she had nailed it.
Too Big to Fail
For a reporter, there are few things as exhilarating as the period between
confirmation and publication—the adrenaline-filled interval where they’re
preparing to reveal a secret to the rest of the world. I’ve been a party to
it many times, and it never gets old… And yet, Lauren and I were both
circumspect and empathetic about the profoundly consequential context
surrounding Metrick’s departure.
A year ago, Saks had acquired Neiman Marcus Group in a deal financed by a
$2.2 billion bond exchange. Metrick, a Saks lifer, was bestowed the C.E.O.
job from chairman and financial architect Richard Baker almost by fiat. The
initial reaction was cautious optimism: Everyone in the industry knew
Metrick and hoped that necessary consolidation would strengthen this vital,
if challenged, distribution channel.
Alas, signs of trouble emerged almost immediately. In February, Metrick
signaled that Saks would extend its vendor repayment schedule to as many as
90 days, up from the customary 30 or 60—an arguably clever policy but one
that triggered panic across the industry. Then the bonds traded down and a
$600 million debt restructuring was completed over the summer—events covered
brilliantly and perspicaciously by our partner Bill Cohan, a former
restructuring and M&A banker who had detected challenges early on.
Eventually, news surfaced that Saks was open to parting with a large
minority stake in the historic Bergdorf building, and as December rolled
around, the company sold land rights and executed lease-backs on two stores.
These are not victimless events: In the fashion industry, Saks is too big to
fail, and its financial woes have already had downstream impacts.
(Disclosure: Earlier this year, Saks sued Puck over our coverage of its
financial condition.)
On Sunday evening, we published a special edition of Line Sheet featuring
Lauren’s exclusive on Metrick’s imminent departure. And true to our
assumption, Lauren was so far ahead of the industry that her reporting wasn’t
confirmed until yesterday, nearly a full week later, when Baker announced
that he would be taking over Metrick’s responsibilities. By that point, the
company had missed its interest payment, triggering a grace period, and a
team at Puck quickly mobilized to follow the latest act in this drama.
As we begin a new year, the entire industry is monitoring the situation at
Saks—and doing so, in particular, through Lauren’s reporting. It’s one of
the most pivotal stories of our time, and exactly what you should expect
from Puck.
Have a great weekend,
Jon
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just:none;text-size-adjust:none;"><div style=3D"display: none">Happy New =
Year! Thanks for reading The Backstory and here=E2=80=99s to a happy, =
healthy, and prosperous 2026 from all of us here at Puck. As the rest of =
the world lay in overserved torpor, my indefatigable partners were hard =
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m:12px;text-align:center;">
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adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
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style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
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ze:20px;font-weight:400;color:#000000;vertical-align:middle;letter-spacin=
g:normal;text-align:center;line-height:normal;">PREVIEW VERSION
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cellspacing=3D"0" role=3D"presentation" =
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style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:14px;font-weight:400;letter-spacing:0px;line-height:1.5=
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style=3D"margin:0;"><strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo1NTg2Nzl9/5f60d0f63d75bc70cb6ef9=
db243de964f0566fb5ff77baade0d5e8f49ae4c881" target=3D"_blank" =
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a free 14-day trial</a></strong> to unlock access to Puck.</p></div>
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<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-top:24px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid =
#d9d9d9;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
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<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#d40000;font-family:'PuckSerifDi=
splay','Georgia';font-size:20px;font-weight:400;padding-botto=
m:24px;text-align:left;">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><img alt=3D"Jon Kelly" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1739207840362_avatar-jon-update-2025-02-10_01JKRDV4MWG66YABQ09KYQKNAE.pn=
g" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:normal;text-align:left;line-height:normal;">Jon Kelly
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:22px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">Good =
morning,<br/><br/>Happy New Year! Thanks for reading The Backstory and =
here=E2=80=99s to a happy,
healthy, and prosperous 2026 from all of us here at Puck.<br/><br/>As =
the rest of the world lay in overserved torpor, my indefatigable =
partners were hard at work ushering in yet another fabulous week at =
Puck. <strong>Matt Belloni</strong> recounted <strong>Mike =
</strong>and<strong> Pam</strong>=E2=80=99s miraculous, =
<strong>Zaz</strong>-humbling, six-month run at Warner Bros.; =
<strong>Bill Cohan
</strong>continued his hero=E2=80=99s work effectively banking the WBD =
deal for Paramount and Netflix; <strong>Mark Healy </strong>chatted up =
<strong>Reed Hastings</strong> on art and skiing; <strong>Julia =
Alexander </strong>presaged <strong>Jeff Bezos</strong>=E2=80=99s next =
NFL play. And <strong>Dylan Byers </strong>assessed the values of the =
Silicon Valley mogul set with <strong>Jim =
Steyer</strong>.<br/><br/>Meanwhile, <strong>Ian Krietzberg =
</strong>evaluated <strong>Sam Altman</strong>=E2=80=99s code red;
<strong>Lauren Sherman </strong>revealed the Saks Global =
C.E.O.=E2=80=99s dethroning; <strong>Alex French </strong>profiled the =
pied piper of the collectibles market; <strong>Marion Maneker =
</strong>toured the <strong>Jamie Dimon </strong>galleries; <strong>Eriq =
Gardner </strong>previewed the end of a CAA legal war; <strong>John =
Heilemann </strong>and <strong>Ezra Klein </strong>previewed the =
Democrats=E2=80=99 2026 strategy; <strong>Julia Ioffe </strong>took =
<strong>Trump </strong>and <strong>Putin </strong>to
couples therapy; <strong>Abby Livingston </strong>examined the =
Republicans=E2=80=99 midterm tripwire; and <strong>Leigh Ann Caldwell =
</strong>gathered the latest D.M.V. gossip as the Hill begins a new =
semester.</p></div>
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</td></tr></tbody></table>
<table class=3D"u" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">Check =
out these stories, and others, via the links below. And stick around for =
the backstory on how it all
came together.</p></div>
</td></tr></tbody></table>
<table class=3D"g oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:37px;text-align:center;"><div class=3D"r" =
align=3D"center"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9pbi8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI=
5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYl=
MjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZ=
XIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo1NTg2Nzl9/5f60d0f63d75bc70cb6ef9=
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style=3D"color:#ffffff;text-decoration:none;"><span class=3D"m" =
style=3D"background-color:#d40000;mso-shading:transparent;border-bottom:2=
px solid #d40000;border-left:2px solid =
#d40000;border-radius:4px;border-right:2px solid
#d40000;border-top:2px solid =
#d40000;color:#ffffff;display:inline-block;font-family:'Inter',&#=
39;Arial';font-size:14px;font-weight:700;mso-border-alt:none;padding-=
bottom:8px;padding-top:8px;padding-left:20px;padding-right:20px;text-alig=
n:center;width:60%;word-break:keep-all;letter-spacing:normal;"><span =
style=3D"word-break:break-word;line-height:28px;">START A FREE 14-DAY =
TRIAL</span></span></a></div>
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<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"FASHION" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520868807_tbs-icon-fashion_01JAQQM7F4X1VMN1QPH2NRBDZ8.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">FASHION
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Lauren Sherman
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc2=
Frcy1nbG9iYWwtY2VvLW1hcmMtbWV0cmljay1leHBlY3RlZC10by1zdGVwLWRvd24vP3V0bV9=
jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0=
bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjQ5MTMzMH0/e82fd735aecdf487f50a1a286773ceeb=
2384fb2afed6f60df0a7cdd86b48594a" =
style=3D"text-decoration:underline;color:#d40000;">breaks</a> the news =
of <strong>Marc Metrick</strong>=E2=80=99s defenestration at =
Saks.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"ART MARKET" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520868285_tbs-icon-art_01JAQQM732KCZHXS8XJBMTGS8Y.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">ART MARKET
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Marion Maneker</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcl9jb250ZW50L3JlZWQtaGFzdGluZ3MtbW91bnRhaW4taGlnaC1kaW1vbnMtMjc=
wLXBhcmstZ2FsbGVyeS8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgx=
JTJGMyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyO=
DElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3=
VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsIml=
udGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDk1MDY5fQ/676d9=
b648147227582d0bd0ce7174e4637a7716f4a7258f4393644082c75214f" =
style=3D"text-decoration:underline;color:#d40000;">visits</a> the =
<strong>Jamie Dimon =
</strong>colossus.<br/><em>and=E2=80=A6</em><br/><strong>Mark Healy =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvcm=
VlZC1oYXN0aW5ncy1vbi1oaXMtdXRhaC1hcnQtcGFyay1za2ktcmVzb3J0Lz91dG1fY2FtcGF=
pZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fY29u=
dGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0bV9tZ=
WRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV=
90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ=
0OGQyOCIsImxpbmtfaWQiOjI0OTQ3MjF9/4e5694334871bb645299daf719ae6bb90c6e5a0=
10c0052fabb032a85e25e28ce" =
style=3D"text-decoration:underline;color:#d40000;">interviews</a> =
<strong>Reed Hastings </strong>about his Storm King =
West.<br/>Meanwhile=E2=80=A6<br/><strong>Alex French
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mva2=
VuLWdvbGRpbi1hdWN0aW9ucy1mcm9tLTQwbS1jb2xsYXBzZS10by1uZXRmbGl4LWZhbWUvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAy=
NnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwM=
DI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXH=
UwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE=
1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjQ5MTM3NX0/751a9b10da7e1fefffa3e76eeeac=
d5a4885f50d9375ab10617fcb82494846bb9" =
style=3D"text-decoration:underline;color:#d40000;">talks shop</a> with =
the king of collectibles.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"HOLLYWOOD" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520869111_tbs-icon-hollywood_01JAQQM7RNJPAHAYAT4JVP2FGA.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">HOLLYWOOD
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Matt Belloni
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
9sbHl3b29kcy1oZXJvZXMtb2YtdGhlLXllYXItYXJlLz91dG1fY2FtcGFpZ249VGhlK0JhY2t=
zdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFj=
a3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfY=
WN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNj=
E1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmt=
faWQiOjI0OTMwMzZ9/bf101393d9161902f517695b7402d2bcaa5b39e05e94fefe9465d89=
39b335d3f" =
style=3D"text-decoration:underline;color:#d40000;">applauds</a> =
<strong>Mike</strong> and <strong>Pam</strong>=E2=80=99s heroic year at =
Warner Bros.=E2=80=94and wonders aloud if the recipe can be replicated =
in =E2=80=9926.<br/><em>and=E2=80=A6</em><br/><strong>Eriq Gardner =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcH=
JlZGljdGluZy10aGUtYmlnZ2VzdC1ob2xseXdvb2QtbGVnYWwtYmF0dGxlcy1vZi0yMDI2Lz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1M=
DAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1=
x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDY=
xNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI0OTM4Nzd9/5c5c6cd9c9993ab1ff48603307d=
7b945fb607ca7c1f5976e009848f5a936f157" =
style=3D"text-decoration:underline;color:#d40000;">draws up</a> a media =
lawsuit roadmap for the
new year.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"A.I." =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1750192320993_tbs-ai_01JXZSEWH3DSYQ0QETB525GJR3.png" height=3D"auto" =
width=3D"48" align=3D"center" style=3D"display:
block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">A.I.
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Ian Krietzberg
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
93LWdvb2dsZS1zdXJnZWQtcGFzdC1vcGVuYWktaW4tMjAyNS8_dXRtX2NhbXBhaWduPVRoZSt=
CYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtY=
WlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNm=
M2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJ=
saW5rX2lkIjoyNDkzNzczfQ/10b0bac60e1c6ed8122306a9b501b6c6d0f6a67c28dc0e3ca=
594a41c7c5ee4e4" =
style=3D"text-decoration:underline;color:#d40000;">explains</a> how =
<strong>Sam Altman </strong>boxed himself into a Google =
dungeon.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:14px;padding-top:8px;text-align:center;width:100%=
;"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:'PuckSerifD=
isplay','Georgia';font-size:20px;font-weight:700;letter-spaci=
ng:normal;line-height:1.2;text-align:left;margin-top:0;margin-bottom:0;ms=
o-line-height-alt:24px;"><strong>AIR MAIL</strong></h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>David Margolick
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9haXJtYWlsLm5ld3=
MvaXNzdWVzLzIwMjUtMTItMjcvdGhlLW9kZGVzdC1jb3VwbGUtaW4tYW1lcmljYW4tbGl0ZXJ=
hdHVyZS1wYXJ0LWk_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJG=
MyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElM=
kYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2=
U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGV=
ybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDk1MDcwfQ/5a586f64c=
0fce67bd0114d636b893dc7b5d2ea930ee09b6a10b5c5cb028eccad" =
style=3D"text-decoration:underline;color:#d40000;">chronicles</a> =
<strong>Norman Mailer</strong>=E2=80=99s Sancho =
Panza.<br/><em>and=E2=80=A6</em><br/><strong>Fran Lebowitz </strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9haXJtYWlsLm5ld3=
MvaXNzdWVzLzIwMjUtMTItMjcvZnJhbi1sZWJvd2l0ei1sYXlzLWRvd24tdGhlLWxhdz91dG1=
fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1=
dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyN=
nV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MD=
AyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWU=
zZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI0OTUwNzF9/d7bb25eb47a398bc74026d1ccfc08bc=
f36eb403357f3d84cf52ba747a725f03d" =
style=3D"text-decoration:underline;color:#d40000;">lays down</a> the =
law.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"MEDIA" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520869437_tbs-icon-media_01JAQQM82TC2CJD5T3P72A68MN.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">MEDIA
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Dylan Byers
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
5zaWRlLXRoZS1iYXJpLXdlaXNzLTYwLW1pbnV0ZXMtYmxvdy11cC8_dXRtX2NhbXBhaWduPVR=
oZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9=
VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtP=
WVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT=
1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjg=
iLCJsaW5rX2lkIjoyNDkwMjYxfQ/1c7dc312452a14682c00b1a29c14a818bf9c58fa906e8=
a2d97c066e73754b560" =
style=3D"text-decoration:underline;color:#d40000;">charts</a> the latest =
<strong>Bari Weiss </strong>beefs and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZG=
9lcy1zaWxpY29uLXZhbGxleS1yZWFsbHktY2FyZS1hYm91dC15b3VyLWtpZHMvP3V0bV9jYW1=
wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0bV9j=
b250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX=
21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dX=
RtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzA=
xZDQ4ZDI4IiwibGlua19pZCI6MjQ5NDg3Mn0/a027993b069b7a1e3cc8e4aba6c3e291e6ef=
f07ba7a9e411b4e1e9a04b958b2d" =
style=3D"text-decoration:underline;color:#d40000;">surveys</a> the A.I. =
takeover with a seasoned media watchman.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"SPORTS" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870311_tbs-icon-sports_01JAQQM8Y3NF00D05WEX5CR80E.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">SPORTS
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Julia Alexander
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
lsbC1hbWF6b24tZ28tYWxsLWluLXdpdGgtdGhlLW5mbC8_dXRtX2NhbXBhaWduPVRoZStCYWN=
rc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0Jh=
Y2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX=
2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
rX2lkIjoyNDkyNzYwfQ/44da12305b9159e331ad97c174951c655494273450e36e40785f9=
c9004aab834" =
style=3D"text-decoration:underline;color:#d40000;">hypothesizes</a> how =
Amazon might take a second bite at the NFL apple.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"WALL =
STREET" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870551_tbs-icon-wall-street_01JAQQM95KYVHSVTE1SADVAXTS.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">WALL STREET
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Bill Cohan
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
JkLXRha2VvdmVyLWJhdHRsZS0zMGItcHNreS1iaWQtc3RpbGwtbWlzc2luZy1rZXktZGV0YWl=
scy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5=
XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlM=
jlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDkxMzAxfQ/1d9c194bf2a1dd6253252=
e7abdb0c2a34bffb3347e4d1354da8a57ab405ad35f" =
style=3D"text-decoration:underline;color:#d40000;">offers</a> the latest =
deal kremlinology on where <strong>Zaz</strong> and the =
<strong>Ellisons</strong> are missing one another.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-left:24px;padding-right:24px;padding-top:32px;vertical-=
align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"WASHINGTON" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870794_tbs-icon-washington_01JAQQM9D691XMPJRQ226EDXSM.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">WASHINGTON
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p =
style=3D"margin:0;"><strong>Leigh Ann Caldwell</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvMj=
AyNi1taWR0ZXJtLXByZWRpY3Rpb25zLWEtZ29wLXN0cmF0ZWdpc3RzLXJlYWxpdHktY2hlY2s=
vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1=
MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLm=
lvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjQ5MTcxMH0/ff3778b72810c64840278227=
09ecb8bcbc91f5f3d19ae2352d043065032d2179" =
style=3D"text-decoration:underline;color:#d40000;">captures</a> the =
excitement and horror as midterm season dawns on the =
Hill.<br/><em>and=E2=80=A6</em><br/><strong>Julia Ioffe </strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcl9jb250ZW50L2V6cmEtb24tdHJ1bXAtbmV3c29tLXZzLXRhbGFyaWNvLXRoZS1=
rcmVtbGlucy1uZXctbGluZS8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUysl=
MjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTK=
yUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV=
9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDk1MDcyfQ/2=
f296bcebc06eda94cce935f6db855fd76504734187635bd3c7406324b3e9ed0" =
style=3D"text-decoration:underline;color:#d40000;">gets the readout</a> =
from <strong>Zelensky</strong>=E2=80=99s Mar-a-Lago
summit.<br/><em>and=E2=80=A6</em><br/><strong>Abby Livingston =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvMj=
AyNi1taWR0ZXJtLWFuYWx5c2lzLWdvcC1yZWNrb25pbmctdHJ1bXBzLWltcGFjdC1tb3JlLz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1M=
DAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1=
x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDY=
xNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI0OTI3MzF9/0328aa3a78b24f275106a5d1223=
8eb0335214876219b8b686cdacc67f515dfc5" =
style=3D"text-decoration:underline;color:#d40000;">digs into</a> the =
Republicans=E2=80=99 =E2=80=9926 strategy.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;padding-bottom:16px;padding-left:24px;padding-right:24px;paddin=
g-top:32px;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:16px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDispl=
ay','Georgia';font-size:20px;font-weight:700;text-align:left;=
">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"PODCASTS" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520869698_tbs-icon-podcasts_01JAQQM8AY9NH956YXMPQWX3NY.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:700;color:#000;vertical-align:middle;letter-spacing:n=
ormal;text-align:left;line-height:normal;">PODCASTS
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">Dylan =
and Julia Alexander predict CNN=E2=80=99s future on
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2Nubi1zYWxlLWNoYXR0ZXItbWV0YS10di1vdGhlci0yMDI2LXByZWR=
pY3Rpb25zLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJG=
MjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlM=
kYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdX=
N0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWw=
iOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI0OTQ1MTd9/bdad4b7e410797a=
09d2a8a9512b62236d581466f97596139a6ee055a350f5adc" =
style=3D"text-decoration:underline;color:#d40000;"><em>The Grill =
Room</em></a>.<br/><em>and=E2=80=A6</em><br/><strong>Ourand</strong> =
welcomes back <strong>Marchand </strong>(!!) on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL3RoZS12YXJzaXRpZXMtc3BvcnRzLW1lZGlhcy0yMDI1LXN1cGVybGF=
0aXZlcy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2=
JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGM=
jYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG=
9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjo=
iZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDkyNDAyfQ/adc133fa6328c0dd9=
f9c4b76190be64106306731b1923d9cc9a19198eccc61a0" =
style=3D"text-decoration:underline;color:#d40000;"><em>The =
Varsity</em></a>.<br/><em>and=E2=80=A6</em><br/>Lauren and costume =
designer <strong>Stacey Battat
</strong>scrutinize <strong>Sofia Coppola</strong>=E2=80=99s style on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2Nvc3R1bWUtZHJhbWEvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J=
5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3Rv=
cnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb=
25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2=
QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI=
6MjQ5NDUxOH0/147b6aa8858bc28e05d46ef736f83a9ed27aa36a9620527cd37570000e7e=
4693" style=3D"text-decoration:underline;color:#d40000;"><em>Fashion =
People</em></a>.<br/><em>and=E2=80=A6</em><br/><strong>John =
Heilemann</strong> and <strong>Ezra Klein </strong>review the year in =
politics on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2V6cmEta2xlaW4tdGhlLXllYXItaW4tcG9saXRpY3MtcGFydC1paS8=
_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNDkzNjk0fQ/f3fb463fcd8f0fef8a63046cb=
a9a6d32e6adb5fd0d15e7011ef77622bb5d18d0" =
style=3D"text-decoration:underline;color:#d40000;"><em>Impolitic</em></a>=
.<br/><em>and=E2=80=A6</em><br/>Matt and
Julia discuss the biggest streaming winners (and losers) of =E2=80=9925 =
on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL3doby13b24tYW5kLWxvc3QtdGhlLXllYXItaW4tc3RyZWFtaW5nLz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1M=
DAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1=
x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDY=
xNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI0OTQ1MTZ9/5544e2ca5e664a7d6ec8605294b=
0b0fa715d568453251a8d1a219dc72d4fadc6" =
style=3D"text-decoration:underline;color:#d40000;"><em>The =
Town</em></a>.<br/><em>and=E2=80=A6</em><br/><strong>Peter =
Hamby</strong> and I prophesy TikTok=E2=80=99s slippage and ponder some =
<em>Times </em>drama on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL21lZGlhLW1vbmRheS10aWt0b2stc2xpcHBhZ2UtdGltZXMtZHJhbWE=
tbmV0ZmxpeC1wYXJhbW91bnQtaW50cmlndWUvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5=
Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3Rvc=
nkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb2=
5cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2Q=
zMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6=
MjQ5MjQwM30/a506c74f3b65ecff28244ee2ef41ed0ae15b617d39b08fd46c38c21a50589=
bab" style=3D"text-decoration:underline;color:
#d40000;"><em>The Powers That Be</em></a>.<br/><br/><em>As a reminder, =
you can update your profile at any time to get more stories like these =
directly in your inbox. </em><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
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V3c2xldHRlcnMvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjM=
lMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJG=
MyUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlP=
WN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm=
5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MTU2fQ/82efa18d91514c17=
c69b2d5a4bc155508fde5134e433e25f0afea74a70e6f55e" =
style=3D"text-decoration:underline;color:#d40000;"><em>Click =
here</em></a><em> to customize your email settings.</em></p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:32px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"30%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:2px solid =
#d40000;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:32px;padding-left:24px;padding-right:24px;text-al=
ign:center;width:100%;"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:'PuckSerifD=
isplay','Georgia';font-size:24px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;=
mso-line-height-alt:29px;">The Metrick Opera</h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">I =
spent last Sunday morning tubing up at Stratton, racing my wife and sons =
in barely inflated donuts at warp
speed, screaming and careening ever downward=E2=80=94a juvenile yet =
thoroughly enjoyable way to spend a few hours of the holiday season. As =
we headed to the lodge for hot chocolate, old habits had me rummaging =
around my parka for my iPhone to check in on the world and, of course, =
Puck. Flicking through texts, emails, and news alerts, I homed in on a =
Slack message from my partner <strong>Lauren =
Sherman</strong>.<br/><br/><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvbGluZS1zaGVldC8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUF=
EUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xF=
QURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyN=
nV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OG=
QyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo0MjYwNDV=
9/50e7e855ec1029cb388c93fb82f2416ccb6c848f91c774d0401d2c935d064e4d" =
style=3D"text-decoration:underline;
color:#d40000;">Line Sheet</a>, Lauren=E2=80=99s industry-defining email =
franchise on the fashion business, generally operates Monday through =
Friday and goes dark over the weekend. But Lauren and I had planned to =
put Line Sheet on hiatus between Christmas and New Year=E2=80=99s =
Day=E2=80=94a decision we made against our shared Calvinist work ethic, =
given that the fashion industry itself essentially goes to ground during =
that somnolent window. I figured that both Lauren and Line =
Sheet=E2=80=99s audience would benefit from us
planning ahead rather than programming the knee-jerk <em>best =
of=E2=80=A6 </em>content that often fills channels as the calendar =
turns.<br/><br/>But Lauren, as tireless as she is omniscient, was =
hunting up a major scoop. She had heard from multiple sources that Saks =
Global C.E.O. <strong>Marc Metrick </strong>was due to step down from =
the year-old, debt-saddled, multibrand retail conglomerate. It certainly =
seemed like a logical outcome based on her previous reporting: Metrick =
had recently missed a major
meeting in Dallas; he wasn=E2=80=99t communicating with typical industry =
contacts, as he normally would; and a key factoring firm that helps =
finance brands=E2=80=99 orders with Saks had paused underwriting =
agreements. Meanwhile, a crucial debt payment of over $100 million =
loomed. I told Lauren to finish reporting it out. If she nailed it, I =
promised we=E2=80=99d abandon our pact and send out a special edition of =
Line Sheet to break this consequential news. And there I was, at last, =
at the front of the hot cocoa
line=E2=80=A6<br/><br/>A couple hours later, I hopped on the phone with =
Lauren, who walked me through her sourcing and various updates. Indeed, =
she <em>had </em>nailed it.</p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:32px;padding-left:24px;padding-right:24px;text-al=
ign:center;width:100%;"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:'PuckSerifD=
isplay','Georgia';font-size:24px;font-weight:400;letter-spaci=
ng:normal;line-height:1.2;text-align:center;margin-top:0;margin-bottom:0;=
mso-line-height-alt:29px;"><strong>Too Big to
Fail</strong></h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">For a =
reporter, there are few things as exhilarating as the period between =
confirmation and publication=E2=80=94the
adrenaline-filled interval where they=E2=80=99re preparing to reveal a =
secret to the rest of the world. I=E2=80=99ve been a party to it many =
times, and it never gets old=E2=80=A6 And yet, Lauren and I were both =
circumspect and empathetic about the profoundly consequential context =
surrounding Metrick=E2=80=99s departure.<br/><br/>A year ago, Saks had =
acquired Neiman Marcus Group in a deal financed by a $2.2 billion bond =
exchange. Metrick, a Saks lifer, was bestowed the C.E.O. job from =
chairman and financial architect
<strong>Richard Baker </strong>almost by fiat. The initial reaction was =
cautious optimism: Everyone in the industry knew Metrick and hoped that =
necessary consolidation would strengthen this vital, if challenged, =
distribution channel.<br/><br/>Alas, signs of trouble emerged almost =
immediately. In February, Metrick signaled that Saks would extend its =
vendor repayment schedule to as many as 90 days, up from the customary =
30 or 60=E2=80=94an arguably clever policy but one that triggered panic =
across the
industry. Then the bonds traded down and a $600 million debt =
restructuring was completed over the summer=E2=80=94events covered =
brilliantly and perspicaciously by our partner <strong>Bill =
Cohan</strong>, a former restructuring and M&A banker who had =
detected <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaX=
Mtc2Frcy1nbG9iYWwtaGVhZGVkLWZvci1iYW5rcnVwdGN5Lz91dG1fY2FtcGFpZ249VGhlK0J=
hY2tzdG9yeSstK0xFQURTKyUyODElMkYzJTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUr=
QmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1ha=
WxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2Yz=
YwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImx=
pbmtfaWQiOjIyMTMyNzd9/181d140d05d622314d07d035a683cf39ee11462256b9d4a5a92=
45e1bcc3ce8e5" =
style=3D"text-decoration:underline;color:#d40000;">challenges</a> early =
on. Eventually, news surfaced that Saks was open to parting with a large =
minority stake in the historic Bergdorf
building, and as December rolled around, the company sold land rights =
and executed lease-backs on two stores. These are not victimless events: =
In the fashion industry, Saks is too big to fail, and its financial woes =
have already had downstream impacts. (Disclosure: Earlier this year, =
Saks sued Puck over our coverage of its financial =
condition.)<br/><br/>On Sunday evening, we published a special edition =
of Line Sheet featuring Lauren=E2=80=99s
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdiaENqUlpyWGU0QlFicnAzZE83WT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc2=
Frcy1nbG9iYWwtY2VvLW1hcmMtbWV0cmljay1leHBlY3RlZC10by1zdGVwLWRvd24vP3V0bV9=
jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4MSUyRjMlMkYyNiUyOVx1MDAyNnV0=
bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjgxJTJGMyUyRjI2JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjQ5MTMzMH0/e82fd735aecdf487f50a1a286773ceeb=
2384fb2afed6f60df0a7cdd86b48594a" =
style=3D"text-decoration:underline;color:#d40000;">exclusive</a> on =
Metrick=E2=80=99s imminent departure. And true to our assumption, Lauren =
was <em>so </em>far ahead of the industry that her reporting =
wasn=E2=80=99t confirmed until yesterday, nearly a full week later, when =
Baker announced that he would be taking over Metrick=E2=80=99s =
responsibilities. By that point, the company had missed its interest =
payment, triggering a grace period, and
a team at Puck quickly mobilized to follow the latest act in this =
drama.<br/><br/>As we begin a new year, the entire industry is =
monitoring the situation at Saks=E2=80=94and doing so, in particular, =
through Lauren=E2=80=99s reporting. It=E2=80=99s one of the most pivotal =
stories of our time, and exactly what you should expect from =
Puck.</p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"padding-bottom:32px;"><div class=3D"r" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"30%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:2px solid =
#d40000;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5=
;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">Have =
a great weekend,<br/>Jon</p></div>
</td></tr></tbody></table>
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