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Subject: The Zazquake, An NFL Defection & Pinault Murmurs
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Thanks for reading The Backstory, your weekly digest of the best new work
emanating from Puck. This really was a mother lode week at Puck as David
Zaslav split his test-tube baby mediaco in twain, at long last, and my
partners offered genre-defining reportage and analysis of this critical
inflection point in multiple industries
Jun 14, 2025
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PREVIEW VERSION
Start a free 14-day trial to unlock unlimited access to Puck.
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Jon Kelly
Good morning,
Thanks for reading The Backstory, your weekly digest of the best new work
emanating from Puck.
I say this all the time, of course, but this really was a mother lode week
at Puck as David Zaslav split his test-tube baby mediaco in twain, at long
last, and my partners offered genre-defining reportage and analysis of this
critical inflection point in multiple industries: Matt Belloni provided a
brilliant two-part analysis on the Hollywood reverberations; Bill Cohan dove
into the $17.5 billion bridge loan and the imminent tender offer; Dylan
Byers reported live from the CNN triage unit; John Ourand detailed the
downstream implications for TNT Sports; and Julia Alexander previewed a
Zaz-Gunnar Wiedenfels showdown. (More below…)
Elsewhere, Lauren Sherman prophesied about the future of Mayhoola and Kering
and enjoyed a well-deserved victory lap over a late-stage magazine
coronation. Rachel Strugatz investigated a Shiseido acquisition gone awry,
while Sarah Shapiro ran the numbers on Abercrombie’s recent rough patch.
Marion Maneker reassessed the Robert Indiana market, and Julie Davich
spotlighted the hottest lots at the New York design auctions. Eriq Gardner
foreshadowed Elon Musk’s next big purchase. And John Heilemann probed the
origins of Sam Altman’s ambitions.
Meanwhile, Leigh Ann Caldwell sat down with the ascendant Sen. Brian Schatz
and conveyed the Democrats’ Fetterman fears; Julia Ioffe explored Pete
Hegseth’s latest headache; and Abby Livingston scrutinized Mike Johnson’s
legislative blood sacrifice.
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
A MESSAGE FROM OUR SPONSOR
AMC and AMC+ presents the acclaimed noir thriller DARK WINDS. The series
stars Zahn McClarnon, Kiowa Gordon, Jessica Matten and Deanna Allison, along
with a new guest star roster toplined by Jenna Elfman and Bruce Greenwood.
Based on the iconic Leaphorn & Chee book series by Tony Hillerman, the
series is created by Graham Roland with John Wirth serving as showrunner,
and is executive produced by Roland, Wirth, McClarnon, Robert Redford,
George R.R. Martin, Chris Eyre, Tina Elmo, Jim Chory, Vince Gerardis and
Anne Hillerman.
FOR YOUR EMMY® CONSIDERATION
Episodes available to stream now on www.amcnfyc.com
Code: Xb8duofl
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FASHION
Lauren Sherman digs into the Vanity Fair succession, the Kering rumor mill,
and Mayhoola’s future ambitions.
and…
Rachel Strugatz chronicles the decline of Drunk Elephant.
meanwhile…
Sarah Shapiro dissects Abercrombie’s post-resurrection growing pains.
<https://userimg-assets.customeriomail.com/images/client-env-107382/1729520868285_tbs-icon-art_01JAQQM732KCZHXS8XJBMTGS8Y.png>
ART MARKET
Marion Maneker charts the Robert Indiana revival and checks in on the
gallery-auction dynamic.
and…
Julie Davich pores over the catalogues for New York design week.
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HOLLYWOOD
Matt Belloni explains how the WBD experiment went wrong and considers the
Mike and Pam of it all.
and…
Julia Alexander evaluates Netflix’s ad-tier migration and draws up the
Zaz-Gunnar prenup.
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SILICON VALLEY
Eriq Gardner foreshadows Elon Musk’s plan to take over the airwaves.
and…
John Heilemann assesses Sam Altman’s persuasive powers in Washington.
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MEDIA
Dylan Byers presages CNN’s fate under a new regime.
and…
John Ourand envisions the afterlife of TNT Sports, and breaks some news on
an NFL defection.
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WALL STREET
Bill Cohan peers under the hood of WBD’s plan to retire a big chunk of its
debt.
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WASHINGTON
Leigh Ann Caldwell chats up Sen. Brian Schatz about the future of his party.
and…
Julia Ioffe delves into Papa Musk’s Moscow misadventure and Pete Hegseth’s
fresh drama.
meanwhile…
Abby Livingston has the latest on the Big Beautiful Bill’s new red lines.
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PODCASTS
Dylan and Julia Alexander debate the merits of Zazonomics on The Grill Room.
and…
John Ourand and LightShed’s Rich Greenfield game out Shari Redstone’s
dwindling options for Paramount on The Varsity.
and…
Lauren catches up with her buds at 831 Stories on Fashion People.
and…
John Heilemann and A.I. chronicler Karen Hao get into the Altman of it all
on Impolitic.
and…
Matt discusses Emmy campaign politics with Debra Birnbaum on The Town.
and…
Julia Alexander and Eriq parse the latest on the Baldoni-Lively morass 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.
Zazpocalypse Now
On Monday morning, shortly after 7 a.m., I was sitting at the kitchen island
and trying to enjoy the quiet afterglow of the weekend. My sons were still
asleep, my wife was off on a business trip, and the aroma emanating from the
Moccamaster filled the room. I was ripping through the endless scroll of
morning newsletters—most regurgitating the same news, alas—when an
announcement came through from the corporate communications office at Warner
Bros. Discovery. At long last, after three years languishing in the public
markets, C.E.O. David Zaslav had decided to sever his leveraged buyout media
test-tube baby into separate entities—one dedicated to the declining cable
businesses and the other coalescing around the far smaller, if growing,
streaming and studio units. Within a nanosecond, my partner Bill Cohan had
forwarded the same note to a group of us at Puck as we contemplated the news
in real time.
Zaz, as many dutiful readers well know, has been a subject of intense
fascination at Puck. Indeed, the transformative 2022 deal that created
Warner Bros. Discovery was initially announced a year earlier, shortly after
Puck raised its Series A financing. I remember my partner Matt Belloni
scrutinizing the deal when our company was still in beta—without a website,
brand identity, or even a name.
A MESSAGE FROM OUR SPONSOR
AMC and AMC+ presents the acclaimed noir thriller DARK WINDS. The series
stars Zahn McClarnon, Kiowa Gordon, Jessica Matten and Deanna Allison, along
with a new guest star roster toplined by Jenna Elfman and Bruce Greenwood.
Based on the iconic Leaphorn & Chee book series by Tony Hillerman, the
series is created by Graham Roland with John Wirth serving as showrunner,
and is executive produced by Roland, Wirth, McClarnon, Robert Redford,
George R.R. Martin, Chris Eyre, Tina Elmo, Jim Chory, Vince Gerardis and
Anne Hillerman.
FOR YOUR EMMY® CONSIDERATION
Episodes available to stream now on www.amcnfyc.com
Code: Xb8duofl
In recent years, Zaz has emerged as a Zelig-like figure in Hollywood—a Jack
Welch acolyte who had rolled up a series of underloved cable channels into
Discovery Communications, then bought his way into the big leagues by
shouldering $55 billion in debt for the right to oversee the historic
WarnerMedia assets. Upon taking the helm of the newly christened WBD, he
swiftly killed off CNN+, nuked a Batgirl and a Looney Tunes movie, and
further enraged the creative community by greenlighting a Nick
Pileggi–Robert De Niro vanity project. The challenges posed by his ego would
become a leitmotif of his reign—hosting a glamorous party at the Hotel du
Cap during Hollywood’s summer of labor unrest, for instance, or proclaiming
that his company didn’t need the NBA shortly before TNT’s exclusive
negotiating window commenced.
But the real headache for Zaz was WBD’s inescapable financial reality. While
he and his ascetic C.F.O. Gunnar Wiedenfels brilliantly slashed the company’s
debt load by tens of billions, EBITDA stagnated. Investors seemed to wait
for the critical inflection point of cost reduction and resurgent profit,
but they ran out of patience as the inexorable decline of cable hastened and
the advertising market softened. It’s certainly possible, too, that the
relentless culture of cost-cutting impeded innovation. And, it’s worth
noting, it’s also quite possible that his plan was flawed from the outset.
Comcast is already preparing to cleave off its own cable assets. Presumably,
Disney and Paramount are next.
Success or failure aside, Zaz’s relevance across industries is undeniable,
and the week’s editorial plans were hatched shortly after Bill’s email came
across the transom. Understandably, we decided to flood the zone. In a pair
of masterstrokes, Matt contextualized the Zaz era in Hollywood with David
Zaslav Has Admitted Defeat and Is Warner Bros. Ready for Its Close-Up?. Bill
Cohan scrutinized WBD’s new $17.5 billion credit facility in his must-read
piece, Zaz’s Financial Alchemy & The GunnarCo Perimeter. Julia Alexander
presaged the post-nuptial squabbles in The Zaz-Gunnar Sports Showdown, while
John Ourand focused on the implications for TNT Sports in Top Gunnar.
Naturally, Dylan Byers chronicled the impact on Ted Turner’s ole baby in CNN
Prepares for the Afterlife.
Yes, we’re in on the joke here—it’s possible that we’ve slightly
overindulged ourselves and our readers on this topic. And yet, on a
fundamental level, Zaz and his WBD adventure have become a true harbinger of
these uncertain times in media, entertainment, sports, politics, and
finance—the very worlds that Puck seeks to unite. His saga has been one of
the great stories of our time, and precisely what you should expect from
Puck.
Have a great weekend,
Jon
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max-height: 0px; overflow: hidden; mso-hide:all;">Thanks for reading The =
Backstory, your weekly digest of the best new work emanating from Puck. =
This really was a mother lode week at Puck as David Zaslav split his =
test-tube baby mediaco in twain, at long last, and my partners offered =
genre-defining reportage and analysis of this critical inflection point =
in multiple industries</div>
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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" =
role=3D"presentation"><tbody><tr><td =
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cellspacing=3D"0" role=3D"presentation" =
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al';font-size:14px;font-weight:400;letter-spacing:0px;line-height:1.5=
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a free 14-day trial</a></strong>=C2=A0to unlock unlimited access to =
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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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cellspacing=3D"0" role=3D"presentation" =
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<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"yq 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" =
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style=3D"font-family:'PuckSerifDisplay','Georgia';font-si=
ze:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-spacin=
g:undefined;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: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;">Good =
morning,<br/><br/>Thanks for reading The Backstory, your weekly digest =
of the best new work
emanating from Puck.<br/><br/>I say this all the time, of course, but =
this really <em>was </em>a mother lode week at Puck as <strong>David =
Zaslav</strong> split his test-tube baby mediaco in twain, at long last, =
and my partners offered genre-defining reportage and analysis of this =
critical inflection point in multiple industries: <strong>Matt Belloni =
</strong>provided a brilliant two-part analysis on the Hollywood =
reverberations; <strong>Bill Cohan </strong>dove into the $17.5 billion =
bridge loan
and the imminent tender offer; <strong>Dylan Byers </strong>reported =
live from the CNN triage unit; <strong>John Ourand </strong>detailed the =
downstream implications for TNT Sports; and <strong>Julia Alexander =
</strong>previewed a Zaz-<strong>Gunnar Wiedenfels </strong>showdown. =
(More below=E2=80=A6)<br/><br/>Elsewhere, <strong>Lauren Sherman =
</strong>prophesied about the future of Mayhoola and Kering and enjoyed =
a well-deserved victory lap over a late-stage magazine coronation. =
<strong>Rachel Strugatz
</strong>investigated a Shiseido acquisition gone awry, while =
<strong>Sarah Shapiro </strong>ran the numbers on Abercrombie=E2=80=99s =
recent rough patch. <strong>Marion Maneker </strong>reassessed the =
<strong>Robert Indiana </strong>market, and <strong>Julie Davich =
</strong>spotlighted the hottest lots at the New York design auctions. =
<strong>Eriq Gardner </strong>foreshadowed<strong> Elon =
Musk</strong>=E2=80=99s next big purchase. And <strong>John Heilemann =
</strong>probed the origins of <strong>Sam
Altman</strong>=E2=80=99s ambitions.<br/><br/>Meanwhile, <strong>Leigh =
Ann Caldwell </strong>sat down with the ascendant Sen. <strong>Brian =
Schatz </strong>and conveyed the Democrats=E2=80=99 =
<strong>Fetterman</strong> fears; <strong>Julia Ioffe </strong>explored =
<strong>Pete Hegseth</strong>=E2=80=99s latest headache; and =
<strong>Abby Livingston </strong>scrutinized <strong>Mike =
Johnson</strong>=E2=80=99s legislative blood sacrifice.</p></div>
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cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
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<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"yq 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>
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top:32px;
vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
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width=3D"552" alt=3D"Dark Winds - AMC" title=3D"Dark Winds - AMC" =
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"><tbody><tr><td><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:center;mso-line-height-alt:20px;"><p =
style=3D"margin:0;margin-bottom:0px;">AMC and AMC+ presents the =
acclaimed noir thriller <em>DARK WINDS</em>. The series stars Zahn =
McClarnon, Kiowa Gordon,
Jessica Matten and Deanna Allison, along with a new guest star roster =
toplined by Jenna Elfman and Bruce Greenwood.<br/><br/>Based on the =
iconic Leaphorn & Chee book series by Tony Hillerman, the series is =
created by Graham Roland with John Wirth serving as showrunner, and is =
executive produced by Roland, Wirth, McClarnon, Robert Redford, George =
R.R. Martin, Chris Eyre, Tina Elmo, Jim Chory, Vince Gerardis and Anne =
Hillerman.<br/><br/>FOR YOUR EMMY=C2=AE CONSIDERATION<br/><br/>Episodes =
available to stream
now on=C2=A0<strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuYW1jbmZ5Yy=
5jb20vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjU=
lMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJG=
MjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3Vzd=
G9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIj=
oiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjIxMjYyfQ/19bc7da56bd66d56=
1a43d2c3e2f79e973050ed21c50994e1f926cfaeb2cbc080" target=3D"_blank" =
style=3D"text-decoration:underline;color:#d40000;" =
rel=3D"noopener">www.amcnfyc.com</a></strong><br/><br/>Code: =
Xb8duofl</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"yq 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:#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:u=
ndefined;text-align:left;line-height:normal;">FASHION
</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: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>digs into the =
<em>Vanity Fair
</em><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvdm=
FuaXR5LWZhaXJzLW1hcmstZ3VpZHVjY2ktZXJhLWFwcGxlcy13d2RjLWd1ZXN0LWxpc3QvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjM0Mzg4fQ/5f4ae42aca39ffc34c03c4d0e=
e8d50f1fea09b0d98cc4bac408a3864f0b6cb67" =
style=3D"text-decoration:underline;color:#d40000;">succession</a>, the =
Kering <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mva2=
VyaW5nLW0tYW5kLWEtbXVybXVycy1hbGV4YW5kcmUtYXJuYXVsdC1pbi1zdW4tdmFsbGV5Lz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLm=
lvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzNDM4OX0/036fe8a763ad616d079f780e=
76cb7f5a966d4af1b7a6559ece5ba6485b5c0cde" =
style=3D"text-decoration:underline;color:#d40000;">rumor mill</a>, and =
Mayhoola=E2=80=99s <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaX=
MtbWF5aG9vbGEtYmFja2luZy1vdXQtb2YtaXRzLWJpZy1sdXh1cnktYW1iaXRpb25zLz91dG1=
fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2=
dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwM=
DI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXH=
UwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE=
1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzMzQzN30/818fc0161408858ee64745596b4a=
ee675d8ca5e2b7d10e089d797099aff24620" =
style=3D"text-decoration:underline;color:#d40000;">future
ambitions</a>.<br/><em>and=E2=80=A6</em><br/><strong>Rachel Strugatz =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
h5LWRydW5rLWVsZXBoYW50LWZlbGwtb2ZmLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSs=
tK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9y=
eSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb=
25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2=
QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI=
6MjIzMjc3Nn0/31674ad4617ae731d17e5c86980130348f1ad5d176c00b06bd6eb3f0793e=
6654" style=3D"text-decoration:underline;color:#d40000;">chronicles</a> =
the decline of Drunk =
Elephant.<br/><em>meanwhile=E2=80=A6</em><br/><strong>Sarah Shapiro =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
93LWFiZXJjcm9tYmllLWFuZC1maXRjaC1ob2xsaXN0ZXItYXJlLW91dHNtYXJ0aW5nLXRhcml=
mZi1zaG9ja3MvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0=
JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyR=
jE0JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2=
U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGV=
ybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMwNzY2fQ/f6a4bf267=
99fee82f8e63339f15620668ba66708965660c25dd32796e5320dcc" =
style=3D"text-decoration:underline;color:#d40000;">dissects</a> =
Abercrombie=E2=80=99s post-resurrection growing pains.</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"yq 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:u=
ndefined;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;margin-bottom:16px;"><strong>Marion Maneker</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdHMtYmVoaW5kLXRoZS1yb2JlcnQtaW5kaWFuYS1yZXZpdmFsLz91dG1fY2FtcGFpZ249VGh=
lK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9=
VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1b=
T1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm=
09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwibGlua19pZCI6MjIzMDYzM30/df51e51c6cc0bf9892af9bf06793829304fe7439bccd=
1a5b5b076eb3b00273b4" =
style=3D"text-decoration:underline;color:#d40000;">charts</a> the =
<strong>Robert Indiana </strong>revival and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
5zaWRlLXRoZS1nYWxsZXJ5LWF1Y3Rpb24taG91c2UtcG93ZXItYmFsYW5jZS8_dXRtX2NhbXB=
haWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9j=
b250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JTJGMTQlMkYyNSUyOVx1MDAyNnV0b=
V9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNn=
V0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDM=
wMWQ0OGQyOCIsImxpbmtfaWQiOjIyMzI3NDZ9/a0d4e851e7543de9256af5856d507540bc1=
973ed39bb167086152ab5fe8ef579" =
style=3D"text-decoration:underline;color:#d40000;">checks in</a> on the =
gallery-auction dynamic.</p><p =
style=3D"margin:0;"><em>and=E2=80=A6</em><br/><br/><strong>Julie Davich
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcH=
Jldmlldy1qdW5lcy1uZXcteW9yay1kZXNpZ24tYXVjdGlvbi8_dXRtX2NhbXBhaWduPVRoZSt=
CYWNrc3RvcnkrLStMRUFEUyslMjg2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRo=
ZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09Z=
W1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPW=
Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImxpbmtfaWQiOjIyMjQ2MjF9/8b8778c1be1d6c92d6861f9fc54584c35a1d99244f3ef89=
f0dc0884a32be1987" =
style=3D"text-decoration:underline;color:#d40000;">pores</a> over the =
catalogues for New York design week.</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"yq 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:u=
ndefined;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;margin-bottom:16px;"><strong>Matt Belloni
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZG=
F2aWQtemFzbGF2cy13YXJuZXItYnJvcy1kaXNjb3ZlcnktZXhwZXJpbWVudC1oYXMtZmFpbGV=
kLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5=
XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1J=
TI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbW=
VyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY=
2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIyOTMzNX0/8d5e8391b9d28d1d9b9b=
0c0c2702dfd80f3f7b1f906ceba5f6a9f27a558c4b3d" =
style=3D"text-decoration:underline;color:#d40000;">explains</a> how the =
WBD experiment went wrong and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
h5LWEtc3VwZXJtYW4tZmxvcC13aWxsLW1lYW4tbW9yZS1mb3Itd2JkLXBvc3Qtc3BsaXQvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMzODU1fQ/ba73ce5fa5d8c6a6ac5bece8a=
30cb3c201415bbe2191503580c7a27e42eded40" =
style=3D"text-decoration:underline;color:#d40000;">considers</a> the =
<strong>Mike</strong> and <strong>Pam</strong> of it all.</p><p =
style=3D"margin:0;margin-bottom:16px;"><em>and=E2=80=A6</em></p><p =
style=3D"margin:0;"><strong>Julia
Alexander </strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V0ZmxpeHMtZ3JlYXQtYWQtdGllci1taWdyYXRpb24vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N=
0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFj=
a3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX=
2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
rX2lkIjoyMjMzMDc5fQ/4807d6caf170dcce972b74be32587deec7410107e946d69dbbade=
d79e864ccf7" =
style=3D"text-decoration:underline;color:#d40000;">evaluates</a> =
Netflix=E2=80=99s ad-tier migration and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
93LXRoZS13YmQtc3BsaXQtbWF5LXR1cm4tZnJpZW5kcy1pbnRvLWZvZXMtb3Zlci1zcG9ydHM=
vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlc=
dTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlM=
jlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMxMDg3fQ/65ff5f64630534f4fbe24=
371e891d8ca756b39e13830884f0ba04de255d18e10" =
style=3D"text-decoration:underline;color:#d40000;">draws up</a> the =
Zaz-Gunnar prenup.</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"yq 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"SILICON =
VALLEY" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870016_tbs-icon-silicon-valley_01JAQQM8NZSP98QR3QACE9C8Z3.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:u=
ndefined;text-align:left;line-height:normal;">SILICON VALLEY
</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;margin-bottom:16px;"><strong>Eriq Gardner
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdH=
YtaW5kdXN0cnktc291bmRzLWFsYXJtLW92ZXItNmctc3BlY3RydW0tY2xhdXNlLz91dG1fY2F=
tcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRt=
X2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzMTEwN30/a338a8b95396e4e50547aeddd9c3c062=
92ac814253808d0f35d2b42aea3f1370" =
style=3D"text-decoration:underline;color:#d40000;">foreshadows</a> =
<strong>Elon Musk</strong>=E2=80=99s plan to take over the =
airwaves.</p><p =
style=3D"margin:0;margin-bottom:16px;"><em>and=E2=80=A6</em></p><p =
style=3D"margin:0;"><strong>John Heilemann </strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mva2=
FyZW4taGFvLW9uLWhlci1uZXctYm9vay1hYm91dC1vcGVuLWFpLz91dG1fY2FtcGFpZ249VGh=
lK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9=
VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1b=
T1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm=
09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwibGlua19pZCI6MjIzNDA3NX0/65e6c54f65de87abf2e946eecf24a8228e42b3ae21c9=
fd450a89029e89d4cf2d" =
style=3D"text-decoration:underline;color:#d40000;">assesses</a> =
<strong>Sam Altman</strong>=E2=80=99s persuasive
powers in Washington.</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"yq 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:u=
ndefined;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=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdC16YXNsYXZzLXdiZC1zcGxpdC1tZWFucy1mb3ItY25uLz91dG1fY2FtcGFpZ249VGhlK0J=
hY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lb=
WFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiw=
ibGlua19pZCI6MjIzMjIzMn0/9d5f65d6dd9da589066dc2ee063df50a8463a2efaf360c3b=
210ab051ebfb6c3b" =
style=3D"text-decoration:underline;color:#d40000;">presages</a> =
CNN=E2=80=99s fate under a new =
regime.<br/><em>and=E2=80=A6</em><br/><strong>John Ourand </strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdC10aGUtd2JkLXNwbGl0LW1lYW5zLWZvci10bnQtc3BvcnRzLz91dG1fY2FtcGFpZ249VGh=
lK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9=
VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1b=
T1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm=
09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwibGlua19pZCI6MjIyODg5M30/465cf3c4bb23915e3e64a8ebb3123ea3a58c4a89a49f=
6b6a3f67c1f0b40821df" =
style=3D"text-decoration:underline;color:#d40000;">envisions</a> the =
afterlife of TNT Sports, and breaks some news on an NFL <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
Zscy1uby0yLXRvLWRlcGFydC1mb3ItcGdhLXRvdXIvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N=
0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFj=
a3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX=
2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5=
rX2lkIjoyMjMzNzQ4fQ/96ff6c6a3e8a2571d8485faa3a249c2d225ee9953e0e2dfa6889c=
f2d2af93949" style=3D"text-decoration:
underline;color:#d40000;">defection</a>.</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"yq 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:u=
ndefined;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=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdHMtaGFwcGVucy10by13YmRzLWRlYnQtYWZ0ZXItdGhlLWNvbXBhbnktaXMtc3BsaXQvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMzMDIwfQ/ccd8ed50e1aba84745acc80c9=
16469a56633bd75d5d23334466b19c8e595ea77" =
style=3D"text-decoration:underline;color:#d40000;">peers</a> under the =
hood of WBD=E2=80=99s plan to retire a big chunk of its debt.</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"yq 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:u=
ndefined;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=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc2=
VuYXRvci1icmlhbi1zY2hhdHotb24taW1taWdyYXRpb24tbGllcy1tZWRpY2FpZC1jdXRzLWd=
yaWZ0Lz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1=
JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyR=
jI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3=
RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI=
6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzMzUyNH0/c8a77e4842c3fdc5=
a1f278511d885168b2c2229935c3d649f8c14632d5e60d32" =
style=3D"text-decoration:underline;color:#d40000;">chats</a> up Sen. =
<strong>Brian Schatz </strong>about the future of his =
party.<br/><em>and=E2=80=A6</em><br/><strong>Julia Ioffe </strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdH=
Jvb3BzLWluLWxvcy1hbmdlbGVzLXN0YXRlLXJpZnMtdGhlLWtyZW1saW4tbXVzay1zYWdhLz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLm=
lvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzMTM2MX0/59995679aa8cada47d822381=
046c3563057598955a68f455f73d8312b2d9f812" =
style=3D"text-decoration:underline;color:#d40000;">delves</a> into Papa =
Musk=E2=80=99s Moscow misadventure and <strong>Pete =
Hegseth</strong>=E2=80=99s fresh
drama.<br/><em>meanwhile=E2=80=A6</em><br/><strong>Abby Livingston =
</strong>has <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc2=
FsdC1jdXRzLXRocmVhdGVuLWdvcC11bml0eS1vdmVyLWJpZy1iZWF1dGlmdWwtYmlsbC8_dXR=
tX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JTJGMTQlMkYyNSUyOVx1MDAy=
NnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JTJGMTQlMkYyNSUyOVx1M=
DAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1=
x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDY=
xNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyMjg5MzZ9/f8dd5189c49ea5d3ad289573f7f=
cfb84c3b6d4e794848efb816ee49fe99da8ce" =
style=3D"text-decoration:underline;color:#d40000;">the latest</a> on the =
Big Beautiful Bill=E2=80=99s new red lines.</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"yq 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:u=
ndefined;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 debate the merits of Zazonomics on
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL3diZC1kaXZvcmNlLW5vdGVzLXZmLWdldHMtdm9ndWVkLz91dG1fY2F=
tcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRt=
X2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzNDA3OX0/edbb29041f00d5efd88f087de47baa13=
01e5f496dcbd965067160c7c582de249" =
style=3D"text-decoration:underline;color:#d40000;"><em>The Grill =
Room</em></a>.<br/><em>and=E2=80=A6</em><br/>John Ourand and =
LightShed=E2=80=99s <strong>Rich Greenfield </strong>game out =
<strong>Shari Redstone</strong>=E2=80=99s dwindling options for =
Paramount on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL3doby1nZXRzLXdoYXQtaW4tdGhlLXdiZC1kaXZvcmNlLz91dG1fY2F=
tcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRt=
X2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzMjEwNn0/5042e16e7ab2a21ece1a00abb9c598f2=
f7664c19de60d5c4a7f904e25a0b588b" =
style=3D"text-decoration:underline;color:#d40000;"><em>The =
Varsity</em></a>.<br/><em>and=E2=80=A6</em><br/>Lauren
catches up with her buds at 831 Stories on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2NvbnRlbnQtY29tbWVyY2UtYS1sb3ZlLXN0b3J5Lz91dG1fY2FtcGF=
pZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2Nv=
bnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX=
21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dX=
RtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzA=
xZDQ4ZDI4IiwibGlua19pZCI6MjIzNTUxM30/a85e214a173955d3de4a22c6b29a4dac5fac=
72e516ff4bc3128fabbca6b98deb" =
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 A.I. chronicler <strong>Karen Hao </strong>get =
into the Altman of it all on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2thcmVuLWhhby1zdXBlcmludGVsbGlnZW5jZS1zdXByZW1lLWh5cGU=
tb24tdGhlLWEtaS1mcm9udGllci8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFE=
UyslMjg2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMR=
UFEUyslMjg2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMD=
I2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ=
4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyMzU1=
MTR9/086445959ea91f677a1064efb63603870e0e16bbbe728b10585beefe7cd1dad9" =
style=3D"text-decoration:underline;color:#d40000;"><em>Impolitic</em></a>=
.<br/><em>and=E2=80=A6</em><br/>Matt
discusses Emmy campaign politics with <strong>Debra Birnbaum </strong>on =
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2hvdy10by1nZXQtYW4tZW1teS1ub21pbmF0aW9uLWZvci1tYXR0Lz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLm=
lvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIzNDA3Nn0/cc71545d53215b1d0dfb08d0=
1c61ae33fa34e978563075a2b7378283e35029f5" =
style=3D"text-decoration:underline;color:#d40000;"><em>The =
Town</em></a>.<br/><em>and=E2=80=A6</em><br/>Julia Alexander and Eriq =
parse the latest on the <strong>Baldoni</strong>-<strong>Lively =
</strong>morass on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2JsYWtlLWxpdmVseXMtbGVnYWwtYm9vc3QvP3V0bV9jYW1wYWlnbj1=
UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVu=
dD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAwMjZ1dG1fbWVka=
XVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDh=
kMjgiLCJsaW5rX2lkIjoyMjMzMzk0fQ/5450905524a82129caa9d64d5965f76977fd427fc=
7a805a76b196827bb31c5ff" =
style=3D"text-decoration:underline;color:#d40000;"><em>The Powers That
Be</em></a>.</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"yq 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;"><em>As a reminder, you can update your profile at =
any time to get more stories like these directly in your
inbox. <strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE=
0JTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUy=
RjE0JTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY=
2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludG=
VybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoxNTZ9/3737eff067527c=
e571f286f20154dce11bd3d2c67f335fcab242a4cdbc864c9e" target=3D"_blank" =
rel=3D"noopener" =
style=3D"text-decoration:underline;color:#d40000;">Click =
here</a></strong> to customize your email settings.</em></p></div>
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<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: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;">Zazpocalypse Now</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;">On =
Monday morning, shortly after 7 a.m., I was sitting at the kitchen =
island and trying to enjoy the quiet
afterglow of the weekend. My sons were still asleep, my wife was off on =
a business trip, and the aroma emanating from the Moccamaster filled the =
room. I was ripping through the endless scroll of morning =
newsletters=E2=80=94most regurgitating the same news, alas=E2=80=94when =
an announcement came through from the corporate communications office at =
Warner Bros. Discovery. At long last, after three years languishing in =
the public markets, C.E.O. <strong>David Zaslav </strong>had decided to =
sever his leveraged
buyout media test-tube baby into separate entities=E2=80=94one dedicated =
to the declining cable businesses and the other coalescing around the =
far smaller, if growing, streaming and studio units. Within a =
nanosecond, my partner <strong>Bill Cohan </strong>had forwarded the =
same note to a group of us at Puck as we contemplated the news in real =
time.<br/><br/>Zaz, as many dutiful readers well know, has been a =
subject of intense fascination at Puck. Indeed, the transformative 2022 =
deal that created Warner Bros. Discovery was initially announced a year =
earlier, shortly after Puck raised its Series A financing. I remember my =
partner <strong>Matt Belloni
</strong>scrutinizing the deal when our company was still in =
beta=E2=80=94without a website, brand identity, or even a =
name.</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"yq o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;border-bottom:1px solid #d40000;border-top:1px solid =
#d40000;padding-bottom:32px;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;word-break:break-word;=
"><tbody><tr><td style=3D"padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A =
MESSAGE FROM OUR SPONSOR</p></div>
</td></tr></tbody></table>
<table class=3D"j oq n5" 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;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04yMTQ5OTM3LjQyMzU4NjVQVUNLTkVXUy9CMzM0NjExNzc=
uNDIwMDQyMTc2O2RjX3Rya19haWQ9NjE1MTkzNzQ2O2RjX3Rya19jaWQ9MjM1NzkwMTg0O2Rj=
X2xhdD07ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O=
2x0ZD07ZGNfdGR2PTE_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JT=
JGMTQlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg=
2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3Nv=
dXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwia=
W50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyMzU1MTJ9/fb54b=
d39330d6141bed8dac477667995acce20a2ba0df2e209c93cdaf1d91b55" =
target=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1749824350543_AMC_Emmy25_600x430_Static_DW_01JXMTHAJCJ5X7QCG30WJRCKB8.jp=
g" style=3D"display:block;height:auto;border:0;width:100%;" =
width=3D"552" alt=3D"Dark Winds - AMC" title=3D"Dark Winds - AMC" =
height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j n" 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;mso-hide:all;display:n=
one;max-height:0;overflow:hidden;"><tbody><tr><td =
style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" =
align=3D"center"><div style=3D"max-width:552px;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9hZC5kb3VibGVjbG=
ljay5uZXQvZGRtL3RyYWNrY2xrL04yMTQ5OTM3LjQyMzU4NjVQVUNLTkVXUy9CMzM0NjExNzc=
uNDIwMDQyMTc2O2RjX3Rya19haWQ9NjE1MTkzNzQ2O2RjX3Rya19jaWQ9MjM1NzkwMTg0O2Rj=
X2xhdD07ZGNfcmRpZD07dGFnX2Zvcl9jaGlsZF9kaXJlY3RlZF90cmVhdG1lbnQ9O3RmdWE9O=
2x0ZD07ZGNfdGR2PTE_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg2JT=
JGMTQlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg=
2JTJGMTQlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3Nv=
dXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwia=
W50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIyMzU1MTJ9/fb54b=
d39330d6141bed8dac477667995acce20a2ba0df2e209c93cdaf1d91b55" =
target=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1749824338328_AMC_Emmy25_600x700_Static_DW_01JXMTGYVN12QD8SDVXXN27VJG.jp=
g" style=3D"display:block;height:auto;border:0;width:100%;" =
width=3D"552" alt=3D"Dark Winds - AMC" title=3D"Dark Winds - AMC" =
height=3D"auto"/></a></div></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><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Ari=
al';font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2=
;text-align:center;mso-line-height-alt:20px;"><p =
style=3D"margin:0;margin-bottom:0px;">AMC and AMC+ presents the =
acclaimed noir thriller <em>DARK WINDS</em>. The series stars Zahn =
McClarnon, Kiowa Gordon,
Jessica Matten and Deanna Allison, along with a new guest star roster =
toplined by Jenna Elfman and Bruce Greenwood.<br/><br/>Based on the =
iconic Leaphorn & Chee book series by Tony Hillerman, the series is =
created by Graham Roland with John Wirth serving as showrunner, and is =
executive produced by Roland, Wirth, McClarnon, Robert Redford, George =
R.R. Martin, Chris Eyre, Tina Elmo, Jim Chory, Vince Gerardis and Anne =
Hillerman.<br/><br/>FOR YOUR EMMY=C2=AE CONSIDERATION<br/><br/>Episodes =
available to stream
now on=C2=A0<strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuYW1jbmZ5Yy=
5jb20vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjU=
lMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJG=
MjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3Vzd=
G9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIj=
oiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjIxMjYyfQ/19bc7da56bd66d56=
1a43d2c3e2f79e973050ed21c50994e1f926cfaeb2cbc080" target=3D"_blank" =
style=3D"text-decoration:underline;color:#d40000;" =
rel=3D"noopener">www.amcnfyc.com</a></strong><br/><br/>Code: =
Xb8duofl</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"yq 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;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;">In =
recent years, Zaz has emerged as a Zelig-like figure in =
Hollywood=E2=80=94a <strong>Jack Welch </strong>acolyte
who had rolled up a series of underloved cable channels into Discovery =
Communications, then bought his way into the big leagues by shouldering =
$55 billion in debt for the right to oversee the historic WarnerMedia =
assets. Upon taking the helm of the newly christened WBD, he swiftly =
killed off CNN+, nuked a Batgirl and a Looney Tunes movie, and further =
enraged the creative community by greenlighting a <strong>Nick =
Pileggi</strong>=E2=80=93<strong>Robert De Niro </strong>vanity project. =
The challenges
posed by his ego would become a leitmotif of his reign=E2=80=94hosting a =
glamorous party at the Hotel du Cap during Hollywood=E2=80=99s summer of =
labor unrest, for instance, or proclaiming that his company =
didn=E2=80=99t <em>need </em>the NBA shortly before TNT=E2=80=99s =
exclusive negotiating window commenced.<br/><br/>But the real headache =
for Zaz was WBD=E2=80=99s inescapable financial reality. While he and =
his ascetic C.F.O. <strong>Gunnar Wiedenfels</strong> brilliantly =
slashed the company=E2=80=99s debt load by tens of billions,
EBITDA stagnated. Investors seemed to wait for the critical inflection =
point of cost reduction and resurgent profit, but they ran out of =
patience as the inexorable decline of cable hastened and the advertising =
market softened. It=E2=80=99s certainly possible, too, that the =
relentless culture of cost-cutting impeded innovation. And, it=E2=80=99s =
worth noting, it=E2=80=99s also quite possible that his plan was flawed =
from the outset. Comcast is already preparing to cleave off its own =
cable assets. Presumably, Disney and
Paramount are next.<br/><br/>Success or failure aside, Zaz=E2=80=99s =
relevance across industries is undeniable, and the week=E2=80=99s =
editorial plans were hatched shortly after Bill=E2=80=99s email came =
across the transom. Understandably, we decided to flood the zone. In a =
pair of masterstrokes, Matt contextualized the Zaz era in Hollywood with =
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZG=
F2aWQtemFzbGF2cy13YXJuZXItYnJvcy1kaXNjb3ZlcnktZXhwZXJpbWVudC1oYXMtZmFpbGV=
kLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5=
XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1J=
TI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbW=
VyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY=
2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjIyOTMzNX0/8d5e8391b9d28d1d9b9b=
0c0c2702dfd80f3f7b1f906ceba5f6a9f27a558c4b3d" =
style=3D"text-decoration:underline;color:#d40000;"><em>David Zaslav Has =
Admitted
Defeat</em></a> and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
h5LWEtc3VwZXJtYW4tZmxvcC13aWxsLW1lYW4tbW9yZS1mb3Itd2JkLXBvc3Qtc3BsaXQvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMzODU1fQ/ba73ce5fa5d8c6a6ac5bece8a=
30cb3c201415bbe2191503580c7a27e42eded40" =
style=3D"text-decoration:underline;color:#d40000;"><em>Is Warner Bros. =
Ready for Its Close-Up?</em></a>. <strong>Bill Cohan =
</strong>scrutinized WBD=E2=80=99s new $17.5 billion credit facility in =
his must-read piece, <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdHMtaGFwcGVucy10by13YmRzLWRlYnQtYWZ0ZXItdGhlLWNvbXBhbnktaXMtc3BsaXQvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMzMDIwfQ/ccd8ed50e1aba84745acc80c9=
16469a56633bd75d5d23334466b19c8e595ea77" =
style=3D"text-decoration:underline;color:#d40000;"><em>Zaz=E2=80=99s =
Financial Alchemy & The GunnarCo
Perimeter</em></a>. <strong>Julia Alexander </strong>presaged the =
post-nuptial squabbles in <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
93LXRoZS13YmQtc3BsaXQtbWF5LXR1cm4tZnJpZW5kcy1pbnRvLWZvZXMtb3Zlci1zcG9ydHM=
vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlMjlc=
dTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NiUyRjE0JTJGMjUlM=
jlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMjMxMDg3fQ/65ff5f64630534f4fbe24=
371e891d8ca756b39e13830884f0ba04de255d18e10" =
style=3D"text-decoration:underline;color:#d40000;"><em>The Zaz-Gunnar =
Sports Showdown</em></a>, while <strong>John Ourand </strong>focused on =
the implications for TNT Sports in <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdC10aGUtd2JkLXNwbGl0LW1lYW5zLWZvci10bnQtc3BvcnRzLz91dG1fY2FtcGFpZ249VGh=
lK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9=
VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1b=
T1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm=
09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwibGlua19pZCI6MjIyODg5M30/465cf3c4bb23915e3e64a8ebb3123ea3a58c4a89a49f=
6b6a3f67c1f0b40821df" =
style=3D"text-decoration:underline;color:#d40000;"><em>Top
Gunnar</em></a>. Naturally, <strong>Dylan Byers </strong>chronicled the =
impact on <strong>Ted Turner</strong>=E2=80=99s ole baby in <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdYYm9iUzFLNm02SndlcUJudmNhbz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdC16YXNsYXZzLXdiZC1zcGxpdC1tZWFucy1mb3ItY25uLz91dG1fY2FtcGFpZ249VGhlK0J=
hY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODYlMkYxNCUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lb=
WFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiw=
ibGlua19pZCI6MjIzMjIzMn0/9d5f65d6dd9da589066dc2ee063df50a8463a2efaf360c3b=
210ab051ebfb6c3b" =
style=3D"text-decoration:underline;color:#d40000;"><em>CNN Prepares for =
the Afterlife</em></a>.<br/><br/>Yes, we=E2=80=99re in on the joke =
here=E2=80=94it=E2=80=99s <em>possible </em>that we=E2=80=99ve slightly =
overindulged ourselves and our readers on this topic. And yet, on a =
fundamental level, Zaz and his WBD adventure have become a true
harbinger of these uncertain times in media, entertainment, sports, =
politics, and finance=E2=80=94the very worlds that Puck seeks to unite. =
His saga has been one of the great stories of our time, and precisely =
what you should expect from Puck.</p></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: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;margin-bottom:0px;">Have a great weekend,</p><p =
style=3D"margin:0;">Jon</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
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