HEX

File: D:/hMailServer/Data/showfile.com/admin/E8/{E8727FA2-FE83-47AD-8C85-10D5B22A1009}.eml
Date: Sat, 03 May 2025 13:05:19 +0000
Mime-Version: 1.0
Content-Type: multipart/alternative;
 boundary="c29128db20ce51bfed9ca6a4c639be2b82fae08a43535fc9fbdb27bd70e9"
Subject: =?UTF-8?q?HBO=E2=80=99s_New_Era,_Shari=E2=80=99s_Debacle_&_The_Saks_Debt_?=
 =?UTF-8?q?Crisis?=
From: Jon Kelly <jon@puck.news>
To: enzo@showfile.com
Message-Id: <20250503130519.9d95d33e25716307@cio66752.puck.news>

--c29128db20ce51bfed9ca6a4c639be2b82fae08a43535fc9fbdb27bd70e9
Content-Transfer-Encoding: quoted-printable
Content-Type: text/plain; charset="utf-8"

May 03, 2025

The Backstory ( https://puck.news/newsletters/the-backstory/?utm_campaign=
=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEA=
DS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_=
term=3Df6c60615e3d301d48d28 )

JOOPITER ( https://www.joopiter.com/auctions/contemporary-take-1?utm_medium=
=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dimage&ut=
m_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_=
content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&=
utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

PREVIEW VERSION
PREVIEW VERSION

Start
a free 14-day trial ( https://puck.news/join/?utm_campaign=3DThe+Backstory+=
-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%=
29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3=
d301d48d28 )=C2=A0to unlock unlimited access to Puck.

=E2=80=8A

Jon Kelly
Jon Kelly

Good morning,

Thanks for reading The Backstory, your weekly capsule of the best new work =
at
Puck.

It was another fabulous week: Matt Belloni surveyed HBO=E2=80=99s new age w=
ith Casey Bloys; Kim Masters reported on a Hollywood succession cautionary =
tale; Eriq Gardner presaged the Paramount-Trump negotiations; Dylan Byers s=
cooped the Redstone 60 Minutes interference backstory; Lauren Sherman and B=
ill Cohan tag-teamed the
metastasizing Saks debt crisis; Rachel Strugatz penetrated the Est=C3=A9e L=
auder C-suite; Sarah Shapiro contemplated a fashion retail zag; Marion Mane=
ker previewed the top lots in the May sales; Julie Davich generously discov=
ered a fair for the working rich; Julia Alexander analyzed an NBCU pickle; =
and John Ourand sleuthed an NBA mystery.

Meanwhile, Leigh Ann Caldwell
assessed the G.O.P.=E2=80=99s midterm mood; Julia Ioffe articulated Trump=
=E2=80=99s Obama Doctrine; Peter Hamby charted Pete Buttigieg=E2=80=99s for=
ay into the =E2=80=9Cmanosphere=E2=80=9D; and Abby Livingston illuminated t=
he latest impeachment murmurs.

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 ( https://puck.news/join/?utm_campaign=3DThe+Back=
story+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3=
%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c6=
0615e3d301d48d28 )

A MESSAGE FROM OUR SPONSOR

JOOPITER ( https://www.joopiter.com/auctions/contemporary-take-1?utm_medium=
=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dimage&ut=
m_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_=
content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&=
utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

JOOPITER ( https://www.joopiter.com/auctions/contemporary-take-1?utm_medium=
=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dimage&ut=
m_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_=
content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&=
utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

JOOPITER, the online auction platform founded by Pharrell Williams, present=
s The Contemporary
Take=E2=80=94its inaugural auction dedicated to contemporary art. Guest cur=
ator Martha Stewart shares her perspective on the sale featuring both blue-=
chip and emerging artists.

=C2=A0

Bid now, before the auction closes May 6 on
JOOPITER.com. ( https://www.joopiter.com/auctions/contemporary-take-1?utm_m=
edium=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dima=
ge&utm_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29=
&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_ac=
tion&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

FASHION
FASHION

Lauren Sherman
games out ( https://puck.news/will-saks-follow-barneys-into-bankruptcy/?utm=
_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backst=
ory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustome=
r.io&utm_term=3Df6c60615e3d301d48d28 ) the Sakspocalypse and conjures ( htt=
ps://puck.news/the-sad-afterlife-of-barneys-new-york/?utm_campaign=3DThe+Ba=
ckstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2=
F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6=
c60615e3d301d48d28 ) Barneys in the afterlife.
and=E2=80=A6
Rachel Strugatz stress
tests ( https://puck.news/estee-lauders-makeup-division-is-in-limbo/?utm_ca=
mpaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory=
+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.i=
o&utm_term=3Df6c60615e3d301d48d28 ) the new Est=C3=A9e Lauder executive tea=
m.
meanwhile=E2=80=A6
Sarah Shapiro checks ( https://puck.news/inside-hommegirls-new-chinatown-st=
ore-with-thakoon-panichgul/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2=
F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Dem=
ail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) in wi=
th Thakoon Panichgul.

=E2=80=8A

ART MARKET
ART MARKET

Marion Maneker
previews ( https://puck.news/may-art-auctions-one-point-one-six-billion-in-=
presale-value/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_co=
ntent=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&ut=
m_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) the $1.16 billion =
May sales and reassesses ( https://puck.news/the-women-behind-sculptor-john=
-chamberlains-resurgence/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F2=
5%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demai=
l_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) the Joh=
n Chamberlain market.
and=E2=80=A6
Julie Davich
captures ( https://puck.news/expo-chicago-2025-diane-simpson-kerry-james-ma=
rshall/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=
=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_sou=
rce=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) the flavor from Expo Ch=
icago.

=E2=80=8A

HOLLYWOOD
HOLLYWOOD

Matt Belloni
asks ( https://puck.news/casey-bloys-on-moving-hbo-max-past-the-streaming-w=
ars/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DTh=
e+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=
=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) Casey Bloys about HBO=E2=
=80=99s pivot back to the =E2=80=9Cbetter is better=E2=80=9D days.
and=E2=80=A6
Kim Masters chronicles ( https://puck.news/can-yariv-milchan-revive-new-reg=
ency/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DT=
he+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=
=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) the New Regency succession=
 stumbles.
meanwhile=E2=80=A6
Eriq Gardner and Matt
trade notes on ( https://puck.news/will-trump-kill-the-paramount-deal/?utm_=
campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backsto=
ry+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer=
=2Eio&utm_term=3Df6c60615e3d301d48d28=
 ) Shari Redstone=E2=80=99s not good, ve=
ry bad options.

=E2=80=8A

MEDIA
MEDIA

Dylan Byers
reveals ( https://puck.news/to-placate-trump-shari-redstone-has-kept-an-eye=
-on-cbs/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=
=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_sou=
rce=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) Shari=E2=80=99s 60 Minu=
tes influence operation.
and=E2=80=A6
John Ourand wades into ( https://puck.news/with-no-exclusive-games-what-doe=
s-nba-tvs-future-hold/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%2=
9&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_a=
ction&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) an NBA mys=
tery.
meanwhile=E2=80=A6
Julia Alexander
unpacks ( https://puck.news/can-the-nba-save-peacock/?utm_campaign=3DThe+Ba=
ckstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2=
F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6=
c60615e3d301d48d28 ) Peacock=E2=80=99s NBA hopes and realities.

=E2=80=8A

WALL STREET
WALL STREET

Bill Cohan
chats with ( https://puck.news/lazard-ceo-peter-orszag-on-trump-tariff-effe=
cts/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DTh=
e+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=
=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) Peter Orszag and digs into=
 ( https://puck.news/will-saks-global-make-its-120-million-interest-payment=
/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+B=
ackstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcu=
stomer.io&utm_term=3Df6c60615e3d301d48d28 ) the Saks debt stack.

=E2=80=8A

WASHINGTON
WASHINGTON

Leigh Ann Caldwell
gathers ( https://puck.news/gop-defends-trump-as-economic-worries-mount/?ut=
m_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backs=
tory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustom=
er.io&utm_term=3Df6c60615e3d301d48d28 ) all the latest Trump chatter on the=
 Hill.
and=E2=80=A6
Peter Hamby inspects ( https://puck.news/pete-buttigieg-enters-the-manosphe=
re/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe=
+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3D=
customer.io&utm_term=3Df6c60615e3d301d48d28 ) the Buttigieg =E2=80=9928 tea=
 leaves.
plus!
Abby Livingston
measures ( https://puck.news/ossoffs-impeachment-statement-sparks-dem-debat=
e/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+=
Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dc=
ustomer.io&utm_term=3Df6c60615e3d301d48d28 ) the impeachment momentum on th=
e left, and Julia Ioffe explains ( https://puck.news/how-trumps-foreign-pol=
icy-resembles-obamas/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29=
&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_ac=
tion&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ) the unlikel=
y similarities between Trump and Obama=E2=80=99s foreign policy platforms.

=E2=80=8A

PODCASTS
PODCASTS

Graydon Carter and Dylan discuss the glory days of the magazine business on
The Grill Room ( https://puck.news/podcast_episode/graydon-carters-golden-y=
ears/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DT=
he+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=
=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ).
and=E2=80=A6
Steve Kornacki tells John about his pivot to sports on The Varsity ( https:=
//puck.news/podcast_episode/the-nhls-thin-ice/?utm_campaign=3DThe+Backstory=
+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25=
%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e=
3d301d48d28 ).
and=E2=80=A6
Lauren and creative director Jen Brill examine the art of brand afterlife i=
n Asia
on Fashion People ( https://puck.news/podcast_episode/zombie-brands-and-bar=
neys-in-japan/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_co=
ntent=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&ut=
m_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ).
and=E2=80=A6
John Heilemann and Semafor=E2=80=99s Ben Smith dissect the rise of group ch=
at politics on Impolitic ( https://puck.news/podcast_episode/ben-smith-trum=
ps-gravity-bong-silicon-valleys-samizdat/?utm_campaign=3DThe+Backstory+-+LE=
ADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&u=
tm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301=
d48d28 ).
and=E2=80=A6
Listen to
the entirety of Matt=E2=80=99s two-part interview with Bloys on The Town ( =
https://puck.news/podcast_episode/what-is-the-hbo-brand-in-2025-part-1-with=
-ceo-casey-bloys/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm=
_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action=
&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 ).
and=E2=80=A6
Peter and Eriq forecast the Paramount endgame on The Powers That Be ( https=
://puck.news/podcast_episode/cbs-capitulation-trumps-new-media-crackdown/?u=
tm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Back=
story+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcusto=
mer.io&utm_term=3Df6c60615e3d301d48d28 ).

As a reminder, you can update your profile at any time to get more stories =
like these directly in your
inbox. Click here ( https://puck.news/newsletters/?utm_campaign=3DThe+Backs=
tory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%=
2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60=
615e3d301d48d28 ) to customize your email settings.

=E2=80=8A

The Debt
--------

On Thursday afternoon, the first day of May, I headed uptown to meet a frie=
nd for lunch at The Mark. The
Upper East Side is having a bit of a moment these days=E2=80=94the result, =
I suppose, of the suburbification of Tribeca and the arrival of a couple ch=
ic new dives (Robin Birley=E2=80=99s Maxime=E2=80=99s and Cafe Commerce)=E2=
=80=94among other factors. I always think of The Mark as ground zero for cr=
eative executives, rock stars of a certain age, and highly pedigreed billio=
naires. It=E2=80=99s also a sentimental favorite of mine: I remember having=
 a celebratory drink there more than four years ago as Puck=E2=80=99s Serie=
s A
financing was rounding to completion. Anyway, the hotel was brimming with f=
ashion people who had arrived in town early for the Met Gala, the industry=
=E2=80=99s annual pilgrimage to honor Anna Wintour, which takes place Monda=
y.

A MESSAGE FROM OUR SPONSOR

JOOPITER ( https://www.joopiter.com/auctions/contemporary-take-1?utm_medium=
=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dimage&ut=
m_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_=
content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&=
utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

JOOPITER ( https://www.joopiter.com/auctions/contemporary-take-1?utm_medium=
=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dimage&ut=
m_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_=
content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&=
utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

JOOPITER, the online auction platform founded by Pharrell Williams, present=
s The Contemporary
Take=E2=80=94its inaugural auction dedicated to contemporary art. Guest cur=
ator Martha Stewart shares her perspective on the sale featuring both blue-=
chip and emerging artists.

=C2=A0

Bid now, before the auction closes May 6 on
JOOPITER.com. ( https://www.joopiter.com/auctions/contemporary-take-1?utm_m=
edium=3Demail&utm_campaign=3DCTPTake_01&utm_source=3Dpuck&utm_content=3Dima=
ge&utm_term=3Dauction&utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29=
&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_ac=
tion&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48d28 )

I spend a lot of time contemplating the contours of every market that Puck =
covers=E2=80=94the macroeconomic issues,
the players and strivers, the hegemons and disruptors, alike. But I=E2=80=
=99ve been devoting an inordinate number of hours to scrutinizing the fashi=
on industry of late. In particular, I=E2=80=99ve become fascinated by the t=
ravails of Saks Global, the franken-retailer created last year in the roll-=
up of Saks, Neiman Marcus, and Bergdorf. Seemingly since day one, the compa=
ny has been star-crossed=E2=80=94rounds of layoffs, payment restructuring, =
store closures, etcetera=E2=80=94but, as has become the case with our broad=
er
economy, the real leading indicator is the bond market.

The company=E2=80=99s $2.2 billion publicly traded senior secured bond, due=
 in 2029, was trading at 67 cents on the dollar last week and yielding 22 p=
ercent. In other words, the bond had lost a third of its value in the four =
months since it was issued last December as part of the Saks Fifth Avenue p=
arentco=E2=80=99s $2.7 billion acquisition of Neiman Marcus Group. Meanwhil=
e, a $120 million-ish interest payment is due on the bonds at the end
of June.

In many ways, Saks Global represents what remains of the multibrand luxury =
retail experience in an ever more vertically integrated, direct-to-consumer=
 age. And while brands and conglomerates may take issue with the company=E2=
=80=99s tactics=E2=80=94they=E2=80=99ve pushed back payments to vendors and=
 partnered with Amazon, among other steps=E2=80=94they all need Saks Global=
 to survive. It is, after all, a systemically important financial instituti=
on=E2=80=94SIFI, as they say on Wall Street=E2=80=94in the fashion and
retail space. The company sells, merchandizes, and stores product, and many=
 brands would be cooked without it.

The Saks saga has factored significantly in the recent work of two generati=
onally talented partners here at Puck, both of whom have explored the dynam=
ic and second-order effects with aplomb and rigor. In The Saks Debt Scaries=
 ( https://puck.news/will-saks-global-make-its-120-million-interest-payment=
/?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+B=
ackstory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcu=
stomer.io&utm_term=3Df6c60615e3d301d48d28 ), the
peerless Bill Cohan evaluates the company=E2=80=99s financial viability and=
 the predatory interests of its creditors. Lauren Sherman, inarguably the m=
ost influential writer in the fashion industry, takes a more granular look =
at the market aftershocks in Is Saks Too Big to Fail? ( https://puck.news/w=
ill-saks-follow-barneys-into-bankruptcy/?utm_campaign=3DThe+Backstory+-+LEA=
DS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&ut=
m_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d=
48d28 ). Both stories articulate the lingering anxiety within
the industry, despite all the pomp at The Mark, about how this might shake =
out.

If you have any time this weekend, I=E2=80=99d urge you to curl up on your =
outdoor furniture and give both pieces a read. You=E2=80=99ll see the indus=
try in a new way, and feel like you=E2=80=99re reading the biography of our=
 age, one day at a time. That, of course, is something that you can only fi=
nd in Puck.

=E2=80=8A

Have a great weekend,
Jon

Start your free trial today ( https://puck.news/join/?utm_campaign=3DThe+Ba=
ckstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2=
F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6=
c60615e3d301d48d28 )

Puck

Facebook ( https://facebook.com/puckdotnews?utm_campaign=3DThe+Backstory+-+=
LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29=
&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d3=
01d48d28 )
Twitter ( https://twitter.com/PuckNews?utm_campaign=3DThe+Backstory+-+LEADS=
+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_=
medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3d301d48=
d28 )
Instagram ( https://instagram.com/puckdotnews?utm_campaign=3DThe+Backstory+=
-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%=
29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c60615e3=
d301d48d28 )
LinkedIn ( https://linkedin.com/company/pucknews?utm_campaign=3DThe+Backsto=
ry+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F=
25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c6061=
5e3d301d48d28 )

Need help? Review our=C2=A0FAQ page ( https://puck.news/faq/?utm_campaign=
=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEA=
DS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_=
term=3Df6c60615e3d301d48d28 )=C2=A0or=C2=A0contact us ( fritz@puck.news?utm=
_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backst=
ory+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcustome=
r.io&utm_term=3Df6c60615e3d301d48d28 )=C2=A0for assistance. For brand partn=
erships, email=C2=A0ads@puck.news ( ads@puck.news?utm_campaign=3DThe+Backst=
ory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2=
F25%29&utm_medium=3Demail_action&utm_source=3Dcustomer.io&utm_term=3Df6c606=
15e3d301d48d28 ).

You received this email because you signed up to receive emails from Puck, =
or as part of your Puck account associated with enzo@showfile.com. To stop =
receiving this newsletter and/or manage all your email preferences, click h=
ere ( https://puck.news/unsubscribe/?subscription=3Dthe_backstory&email=3De=
nzo@showfile.com&delivery_id=3DdgT2xgYDANSNKNONKAGWlju_QGufq6umW8Hs8Rc=3D&u=
tm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&utm_content=3DThe+Back=
story+-+LEADS+%285%2F3%2F25%29&utm_medium=3Demail_action&utm_source=3Dcusto=
mer.io&utm_term=3Df6c60615e3d301d48d28 ).

=E2=80=8A

Puck is published by Heat Media LLC.=C2=A0107=C2=A0Greenwich=C2=A0St, New Y=
ork, NY 10006
--c29128db20ce51bfed9ca6a4c639be2b82fae08a43535fc9fbdb27bd70e9
Content-Transfer-Encoding: quoted-printable
Content-Type: text/html; charset="utf-8"

<!-- We'll replace this content tag with whatever you write in your email  =
--><!DOCTYPE html><html xmlns:v=3D"urn:schemas-microsoft-com:vml" xmlns:o=
=3D"urn:schemas-microsoft-com:office:office" lang=3D"en"><head>
<title></title>
<meta http-equiv=3D"Content-Type" content=3D"text/html; charset=3Dutf-8"/>
<meta name=3D"viewport" content=3D"width=3Ddevice-width, initial-scale=3D1.=
0"/>
<link href=3D"https://fonts.googleapis.com/css2?family=3DInter:ital,opsz,wg=
ht@0,14..32,100..900;1,14..32,100..900&amp;display=3Dswap" rel=3D"styleshee=
t" type=3D"text/css"/>
<link href=3D"https://puck.news/wp-includes/css/puck-fonts.css" rel=3D"styl=
esheet" type=3D"text/css"/>
<style>*{box-sizing:border-box;}body{margin:0;padding:0;}a[x-apple-data-det=
ectors]{color:inherit!important;text-decoration:inherit!important;}p{line-h=
eight:inherit}.n,.n table{mso-hide:all;display:none;max-height:0px;overflow=
:hidden;}.j img+div{display:none;}sup,sub{font-size:75%;line-height:0;}
@media (max-width:620px){.n table.b,.z.n .y{display:inline-block!important;=
}.b{text-align:center;}.b td{margin:0 auto;}.n5{display:none;}.v .o .oq.g .=
r .m,.c{width:100%!important;}.i .yq{width:100%;display:block;}.n5{min-heig=
ht:0;max-height:0;max-width:0;overflow:hidden;font-size:0px;}.n,.n table{di=
splay:table!important;max-height:none!important;}.v .o .oq.g span{line-heig=
ht:28px!important;}.q .o{padding:12px 0 6px!important;} }
</style>
</head>
<body style=3D"margin:0;background-color:#f8f8f8;padding:0;-webkit-text-siz=
e-adjust:none;text-size-adjust:none;"><div style=3D"display: none; max-heig=
ht: 0px; overflow: hidden; mso-hide:all;">Thanks for reading The Backstory,=
 your weekly capsule of the best new work at Puck. It was another fabulous =
week: Matt Belloni surveyed HBO=E2=80=99s new age with Casey Bloys; Kim Mas=
ters reported on a Hollywood succession cautionary tale; Eriq Gardner presa=
ged the Paramount-Trump negotiations; Dylan Byers scooped the Redstone 60 M=
inutes interference backstory; Lauren Sherman and Bill Cohan tag-teamed the=
 metastasizing Saks debt crisis.</div>
<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;backgr=
ound-color:#f8f8f8;"><tbody><tr><td>
<table class=3D"q" align=3D"center" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0p=
t;mso-table-rspace:0pt;background-size:auto;"><tbody><tr><td>
<table class=3D"c" align=3D"center" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;background-color:#f8f8f8;background-size:auto;background-image:url(=
&#39;https://userimg-assets.customeriomail.com/images/client-env-107382/172=
9522224401_links-bg-80_01JAQRXK9QCQFM5YW931W53SMQ.png&#39;);background-repe=
at:no-repeat;border-radius:0;color:#000000;width:600px;margin:0 auto;" widt=
h=3D"600"><tbody><tr><td class=3D"yq o" width=3D"100%" style=3D"mso-table-l=
space:0pt;mso-table-rspace:0pt;font-weight:400;text-align:left;padding-bott=
om:2px;padding-left:24px;padding-right:24px;padding-top:10px;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-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#767676;direction:ltr;=
font-family:&#39;Inter&#39;,&#39;Arial&#39;;font-size:14px;font-weight:400;=
letter-spacing:0px;line-height:1.5;text-align:center;mso-line-height-alt:21=
px;"><p style=3D"margin:0;">May 03, 2025</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"width:100%;"><div class=3D"r" align=3D"cent=
er"><div style=3D"max-width:600px;"><a href=3D"https://email.puck.news/e/c/=
eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJ=
ocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvbmV3c2xldHRlcnMvdGhlLWJhY2tzdG9yeS8_dXRtX2=
NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX=
2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1f=
bWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1=
fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkND=
hkMjgiLCJsaW5rX2lkIjozNzE4NH0/93a977d21e42ca8c968e2c9c7c7f3ebb4af5bea684b0f=
5fef6fce9f87b4f7f2d" target=3D"_blank" style=3D"outline:none" tabindex=3D"-=
1"><img src=3D"https://userimg-assets.customeriomail.com/images/client-env-=
107382/1730910024645_nameplate-the-backstory-290-noborder_01JC14DWZHTWY8J94=
VNETCN0Q2.png" style=3D"display:block;height:auto;border:0;width:100%;" wid=
th=3D"600" alt=3D"The Backstory" title=3D"The Backstory" height=3D"auto"/><=
/a></div></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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"width:100%;"><div class=3D"r" align=3D"cent=
er"><div style=3D"max-width:600px;"><a href=3D"https://email.puck.news/e/c/=
eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJ=
ocmVmIjoiaHR0cHM6Ly93d3cuam9vcGl0ZXIuY29tL2F1Y3Rpb25zL2NvbnRlbXBvcmFyeS10YW=
tlLTE_dXRtX21lZGl1bT1lbWFpbFx1MDAyNnV0bV9jYW1wYWlnbj1DVFBUYWtlXzAxXHUwMDI2d=
XRtX3NvdXJjZT1wdWNrXHUwMDI2dXRtX2NvbnRlbnQ9aW1hZ2VcdTAwMjZ1dG1fdGVybT1hdWN0=
aW9uXHUwMDI2dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI=
1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMj=
UlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZ=
XIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZj=
NjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTg2OTM1fQ/40d0c26c23a8bc4ea8c79d0a=
02cef874c688b0e9715b468b22b8d4306ac260a4" target=3D"_blank" style=3D"outlin=
e:none" tabindex=3D"-1"><img src=3D"https://userimg-assets.customeriomail.c=
om/images/client-env-107382/1746216791632_header-sponsor-joopiter_01JT9A3BQ=
V8ME95D0Q2X6AX8VN.png" style=3D"display:block;height:auto;border:0;width:10=
0%;" width=3D"600" alt=3D"JOOPITER" title=3D"JOOPITER" height=3D"auto"/></a=
></div></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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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:24px;vertical-al=
ign: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-a=
lign:center;line-height:0;"><tbody><tr><td style=3D"vertical-align:middle;c=
olor:#000000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-=
size:20px;font-weight:400;padding-bottom:12px;text-align:center;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:8px;"><img alt=3D"PREVIEW VERSION" src=3D"https://userimg-a=
ssets.customeriomail.com/images/client-env-107382/1734018969249_preview-bla=
ck-outline-32_01JEXSBBQMNMC2Q7QT5X7ACH6X.png" height=3D"auto" width=3D"32" =
align=3D"center" style=3D"display:block;height:auto;margin:0 auto;border:0;=
"/>
</td><td style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:400;color:#000000;vertical-align:middle;letter-s=
pacing:undefined;text-align:center;line-height:normal;">PREVIEW VERSION
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;word-break:break-word;"><tbody><tr><td><div style=3D"color:#000000;d=
irection:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;font-size:14px;fon=
t-weight:400;letter-spacing:0px;line-height:1.5;text-align:center;mso-line-=
height-alt:21px;"><p style=3D"margin:0;"><strong><a href=3D"https://email.p=
uck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVz=
hIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam9pbi8_dXRtX2NhbXBhaWduPVRoZ=
StCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWl=
sX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MD=
YxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX=
2lkIjo1NTg2Nzl9/caed4689ef6e97eafb482bb998db12fded56cb4b7c4c7a3c615465b233c=
40da1" target=3D"_blank" rel=3D"noopener" style=3D"text-decoration:underlin=
e;color:#d40000;">Start
a free 14-day trial</a></strong>=C2=A0to unlock unlimited access to 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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><tr><td style=3D"font-size:1px;line-height:1px;border-top:1px solid #d9d=
9d9;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table></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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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-a=
lign:left;line-height:0;"><tbody><tr><td style=3D"vertical-align:middle;col=
or:#d40000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-si=
ze:20px;font-weight:400;padding-bottom:24px;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;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.png" height=3D"auto" width=3D"48" al=
ign=3D"center" style=3D"display:block;height:auto;margin:0 auto;border:0;"/=
>
</td><td style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:400;color:#d40000;vertical-align:middle;letter-s=
pacing: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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;word-break:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;=
"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#3=
9;Arial&#39;;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 capsule of =
the best new work at
Puck.<br/><br/>It was another fabulous week: <strong>Matt Belloni</strong> =
surveyed HBO=E2=80=99s new age with <strong>Casey Bloys</strong>; <strong>K=
im Masters </strong>reported on a Hollywood succession cautionary tale; <st=
rong>Eriq Gardner </strong>presaged the Paramount-<strong>Trump</strong> ne=
gotiations; <strong>Dylan Byers</strong> scooped the <strong>Redstone</stro=
ng><em> 60 Minutes </em>interference backstory; <strong>Lauren Sherman </st=
rong>and <strong>Bill Cohan </strong>tag-teamed the
metastasizing Saks debt crisis; <strong>Rachel Strugatz </strong>penetrated=
 the Est=C3=A9e Lauder C-suite; <strong>Sarah Shapiro </strong>contemplated=
 a fashion retail zag; <strong>Marion Maneker </strong>previewed the top lo=
ts in the May sales; <strong>Julie Davich </strong>generously discovered a =
fair for the <em>working rich</em>; <strong>Julia Alexander </strong>analyz=
ed an NBCU pickle; and <strong>John Ourand </strong>sleuthed an NBA mystery=
=2E<br/><br/>Meanwhile, <strong>Leigh Ann Caldwell
</strong>assessed the G.O.P.=E2=80=99s midterm mood; <strong>Julia Ioffe </=
strong>articulated Trump=E2=80=99s <strong>Obama </strong>Doctrine; <strong=
>Peter Hamby </strong>charted <strong>Pete Buttigieg</strong>=E2=80=99s for=
ay into the =E2=80=9Cmanosphere=E2=80=9D; and <strong>Abby Livingston </str=
ong>illuminated the latest impeachment murmurs.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"v" align=3D"center" width=3D"100%" border=3D"0" cellpadding=
=3D"0" cellspacing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0p=
t;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:26px;"><p style=3D"margin:0;"><em>Check out the=
se stories, and others, via the links below. And stick around for the backs=
tory on how it
all came together.</em></p></div>
</td></tr></tbody></table>
<table class=3D"g oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace: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/ey=
JlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJoc=
mVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam9pbi8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3Rvcnkr=
LStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSs=
tK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MD=
AyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0O=
GQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo1NTg2Nzl9=
/caed4689ef6e97eafb482bb998db12fded56cb4b7c4c7a3c615465b233c40da1" target=
=3D"_blank" style=3D"color:#ffffff;text-decoration:none;"><span class=3D"m"=
 style=3D"background-color:#d40000;border-bottom:2px solid #d40000;border-l=
eft:2px solid #d40000;border-radius:4px;border-right:2px solid #d40000;bord=
er-top:2px
solid #d40000;color:#ffffff;display:inline-block;font-family:&#39;Inter&#39=
;,&#39;Arial&#39;;font-size:14px;font-weight:700;mso-border-alt:none;paddin=
g-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</spa=
n></span></a></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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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;padd=
ing-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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2;text-ali=
gn:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A MESSAGE FROM OU=
R SPONSOR</p></div>
</td></tr></tbody></table>
<table class=3D"j oq n5" width=3D"100%" border=3D"0" cellpadding=3D"0" cell=
spacing=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"ht=
tps://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X=
1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuam9vcGl0ZXIuY29tL2F1Y3Rp=
b25zL2NvbnRlbXBvcmFyeS10YWtlLTE_dXRtX21lZGl1bT1lbWFpbFx1MDAyNnV0bV9jYW1wYWl=
nbj1DVFBUYWtlXzAxXHUwMDI2dXRtX3NvdXJjZT1wdWNrXHUwMDI2dXRtX2NvbnRlbnQ9aW1hZ2=
VcdTAwMjZ1dG1fdGVybT1hdWN0aW9uXHUwMDI2dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrL=
StMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSst=
K0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDA=
yNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OG=
QyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTg2OTM1f=
Q/40d0c26c23a8bc4ea8c79d0a02cef874c688b0e9715b468b22b8d4306ac260a4" target=
=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img src=3D"https://puck=
=2Enews/wp-content/uploads/2025/05/PUC=
K-ad-600x400-1.gif" style=3D"display:bl=
ock;height:auto;border:0;width:100%;" width=3D"552" alt=3D"JOOPITER" title=
=3D"JOOPITER" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j n" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;mso-hide:all;display:none;max-height:0;overflow:hidden;"><tbody><tr=
><td style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" align=3D"ce=
nter"><div style=3D"max-width:552px;"><a href=3D"https://email.puck.news/e/=
c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iL=
CJocmVmIjoiaHR0cHM6Ly93d3cuam9vcGl0ZXIuY29tL2F1Y3Rpb25zL2NvbnRlbXBvcmFyeS10=
YWtlLTE_dXRtX21lZGl1bT1lbWFpbFx1MDAyNnV0bV9jYW1wYWlnbj1DVFBUYWtlXzAxXHUwMDI=
2dXRtX3NvdXJjZT1wdWNrXHUwMDI2dXRtX2NvbnRlbnQ9aW1hZ2VcdTAwMjZ1dG1fdGVybT1hdW=
N0aW9uXHUwMDI2dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyR=
jI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJG=
MjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9=
tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTg2OTM1fQ/40d0c26c23a8bc4ea8c79d=
0a02cef874c688b0e9715b468b22b8d4306ac260a4" target=3D"_blank" style=3D"outl=
ine:none" tabindex=3D"-1"><img src=3D"https://puck.news/wp-content/uploads/=
2025/05/PUCK-ad-600x700-1.gif" style=3D"display:block;height:auto;border:0;=
width:100%;" width=3D"552" alt=3D"JOOPITER" title=3D"JOOPITER" height=3D"au=
to"/></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-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#000000;direction:ltr;=
font-family:&#39;Inter&#39;,&#39;Arial&#39;;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;margin-bottom:0px;"><strong>JOOPITER</strong>, the =
online auction platform founded by Pharrell Williams, presents <em>The Cont=
emporary
Take</em>=E2=80=94its inaugural auction dedicated to contemporary art. Gues=
t curator Martha Stewart shares her perspective on the sale featuring both =
blue-chip and emerging artists.</p><p style=3D"margin:0;margin-bottom:0px;"=
>=C2=A0</p><p style=3D"margin:0;margin-bottom:0px;">Bid now, before the auc=
tion closes May 6 on
<strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lE=
QU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuam9=
vcGl0ZXIuY29tL2F1Y3Rpb25zL2NvbnRlbXBvcmFyeS10YWtlLTE_dXRtX21lZGl1bT1lbWFpbF=
x1MDAyNnV0bV9jYW1wYWlnbj1DVFBUYWtlXzAxXHUwMDI2dXRtX3NvdXJjZT1wdWNrXHUwMDI2d=
XRtX2NvbnRlbnQ9aW1hZ2VcdTAwMjZ1dG1fdGVybT1hdWN0aW9uXHUwMDI2dXRtX2NhbXBhaWdu=
PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ=
9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
VtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mN=
mM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJs=
aW5rX2lkIjoyMTg2OTM1fQ/40d0c26c23a8bc4ea8c79d0a02cef874c688b0e9715b468b22b8=
d4306ac260a4" target=3D"_blank" style=3D"text-decoration:underline;color:#d=
40000;" data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" rel=
=3D"noopener">JOOPITER.com.</a></strong></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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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-a=
lign:left;line-height:0;"><tbody><tr><td style=3D"vertical-align:middle;col=
or:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-size:=
20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:12px;"><img alt=3D"FASHION" src=3D"https://userimg-assets.c=
ustomeriomail.com/images/client-env-107382/1729520868807_tbs-icon-fashion_0=
1JAQQM7F4X1VMN1QPH2NRBDZ8.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:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce: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:&#=
39;Inter&#39;,&#39;Arial&#39;;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/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3Mvd2lsbC1zYWtzLWZvbGxvdy1iYXJuZXlzLWludG8tYmFua3J1cHRjeS8_dXRtX2NhbXBha=
WduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRl=
bnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXV=
tPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT=
1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiL=
CJsaW5rX2lkIjoyMTg1MTc0fQ/46fa67660d903ff312c011c5d2f018c27fa9610c056fd55e9=
c7ff01c4a81ee68" style=3D"text-decoration:underline;color:#d40000;">games o=
ut</a> the Sakspocalypse and <a href=3D"https://email.puck.news/e/c/eyJlbWF=
pbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIj=
oiaHR0cHM6Ly9wdWNrLm5ld3MvdGhlLXNhZC1hZnRlcmxpZmUtb2YtYmFybmV5cy1uZXcteW9ya=
y8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTA=
wMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdT=
AwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM=
2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTgwODM3fQ/2b6267f0182fb304f19c2ffc4678a8cca=
cf7424421443e63a859027b9f2ca94b" style=3D"text-decoration:underline;color:#=
d40000;">conjures</a> Barneys in the afterlife.<br/><em>and=E2=80=A6</em><b=
r/><strong>Rachel Strugatz </strong><a href=3D"https://email.puck.news/e/c/=
eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJ=
ocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZXN0ZWUtbGF1ZGVycy1tYWtldXAtZGl2aXNpb24taX=
MtaW4tbGltYm8vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlM=
kYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUy=
RjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3R=
vbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6Im=
Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjE4NDAxOX0/7bf98952cd53a25ee1060=
54f6d39ed4ec4db0004021db9e33f4d539a6ed441f4" style=3D"text-decoration:under=
line;color:#d40000;">stress
tests</a> the new Est=C3=A9e Lauder executive team.<br/><em>meanwhile=E2=80=
=A6</em><br/><strong>Sarah Shapiro </strong><a href=3D"https://email.puck.n=
ews/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczh=
SYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW5zaWRlLWhvbW1lZ2lybHMtbmV3LWNoaW=
5hdG93bi1zdG9yZS13aXRoLXRoYWtvb24tcGFuaWNoZ3VsLz91dG1fY2FtcGFpZ249VGhlK0JhY=
2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFj=
a3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN=
0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZT=
NkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiO=
jIxODMwMzB9/9e312c45f44238585ff5a997499f194cbc101991652a9ec4ca4cfca3b37454d=
c" style=3D"text-decoration:underline;color:#d40000;">checks</a> in with <s=
trong>Thakoon Panichgul</strong>.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;text-align:left;line-height:0;"><tbody><tr><td style=3D"vertical-ali=
gn:middle;color:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#3=
9;;font-size:20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:12px;"><img alt=3D"ART MARKET" src=3D"https://userimg-asset=
s.customeriomail.com/images/client-env-107382/1729520868285_tbs-icon-art_01=
JAQQM732KCZHXS8XJBMTGS8Y.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:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:1=
6px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-hei=
ght: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/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvbWF=
5LWFydC1hdWN0aW9ucy1vbmUtcG9pbnQtb25lLXNpeC1iaWxsaW9uLWluLXByZXNhbGUtdmFsdW=
UvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1M=
DAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUw=
MDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHU=
wMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZT=
NkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjE4MzU5M30/86e5a2528e4ac90a680fcbbda942d7c9b=
bf8feb4aa0d5acd2dd26ea5318075ec" style=3D"text-decoration:underline;color:#=
d40000;">previews</a> the $1.16 billion May sales and <a href=3D"https://em=
ail.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxN=
nVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdGhlLXdvbWVuLWJlaGluZC1z=
Y3VscHRvci1qb2huLWNoYW1iZXJsYWlucy1yZXN1cmdlbmNlLz91dG1fY2FtcGFpZ249VGhlK0J=
hY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQm=
Fja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfY=
WN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1=
ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQ=
iOjIxODMwOTZ9/6701e417960994d8232e2ef7f72fe0d9dc941844e51c090ac598bbf972dfc=
7d4" style=3D"text-decoration:underline;color:#d40000;">reassesses</a> the =
<strong>John Chamberlain </strong>market.<br/><em>and=E2=80=A6</em><br/><st=
rong>Julie Davich
</strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvZXhwby1jaGljYWdvLTIwMjUtZGlhbmUtc2ltcHNvbi1rZXJyeS1qYW1lcy1tYXJzaGFsb=
C8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTA=
wMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdT=
AwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM=
2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTc5OTk2fQ/3f0ec9cbf11d5a5a1360b97d529ea58d6=
4f36d84378f028c0cf1af67564039f0" style=3D"text-decoration:underline;color:#=
d40000;">captures</a> the flavor from Expo Chicago.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;text-align:left;line-height:0;"><tbody><tr><td style=3D"vertical-ali=
gn:middle;color:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#3=
9;;font-size:20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:12px;"><img alt=3D"HOLLYWOOD" src=3D"https://userimg-assets=
=2Ecustomeriomail.com/images/client-env=
-107382/1729520869111_tbs-icon-hollywo=
od_01JAQQM7RNJPAHAYAT4JVP2FGA.png" height=3D"auto" width=3D"48" align=3D"ce=
nter" style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:1=
6px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-hei=
ght: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/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvY2FzZXktYmxveXMtb24tbW92aW5nLWhiby1tYXgtcGFzdC10aGUtc3RyZWFtaW5nLXdhc=
nMvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1=
MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHU=
wMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXH=
UwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1Z=
TNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjE4NjUyMn0/f39fc5c9052e39d2e24c0d647077a2c4=
0811500f994c9c2c54f064c140ca81d9" style=3D"text-decoration:underline;color:=
#d40000;">asks</a> Casey Bloys about HBO=E2=80=99s pivot back to the =E2=80=
=9Cbetter is better=E2=80=9D days.<br/><em>and=E2=80=A6</em><br/><strong>Ki=
m Masters </strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6I=
mRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6=
Ly9wdWNrLm5ld3MvY2FuLXlhcml2LW1pbGNoYW4tcmV2aXZlLW5ldy1yZWdlbmN5Lz91dG1fY2F=
tcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY2=
9udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZ=
WRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90=
ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQ=
yOCIsImxpbmtfaWQiOjIxODE5ODB9/2f8600ffd532da0908ba08c99abac207c35e6ff69ef7d=
aa6fde44ae0f9e28b0a" style=3D"text-decoration:underline;color:#d40000;">chr=
onicles</a> the New Regency succession stumbles.<br/><em>meanwhile=E2=80=A6=
</em><br/><strong>Eriq Gardner </strong>and Matt
<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2l=
sbC10cnVtcC1raWxsLXRoZS1wYXJhbW91bnQtZGVhbC8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3=
RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzd=
G9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlv=
blx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDM=
wMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMT=
gzMjE4fQ/184e379525d3e2dd72ee57850894472c3bfa09fe1da3d22a409ee9ebc509f98a" =
style=3D"text-decoration:underline;color:#d40000;">trade notes on</a> Shari=
 Redstone=E2=80=99s not good, very bad options.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;text-align:left;line-height:0;"><tbody><tr><td style=3D"vertical-ali=
gn:middle;color:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#3=
9;;font-size:20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:12px;"><img alt=3D"MEDIA" src=3D"https://userimg-assets.cus=
tomeriomail.com/images/client-env-107382/1729520869437_tbs-icon-media_01JAQ=
QM82TC2CJD5T3P72A68MN.png" height=3D"auto" width=3D"48" align=3D"center" st=
yle=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:1=
6px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-hei=
ght: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/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvdG8tcGxhY2F0ZS10cnVtcC1zaGFyaS1yZWRzdG9uZS1oYXMta2VwdC1hbi1leWUtb24tY=
2JzLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlc=
dTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx=
1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1=
x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxN=
WUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxODQ0Mzl9/b37f25cd81ed29632a7dd5e4cc98270=
792f229823ca283cd9675867ace97b48c" style=3D"text-decoration:underline;color=
:#d40000;">reveals</a> Shari=E2=80=99s <em>60 Minutes </em>influence operat=
ion.<br/><em>and=E2=80=A6</em><br/><strong>John Ourand </strong><a href=3D"=
https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp=
1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2l0aC1uby1leG=
NsdXNpdmUtZ2FtZXMtd2hhdC1kb2VzLW5iYS10dnMtZnV0dXJlLWhvbGQvP3V0bV9jYW1wYWlnb=
j1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50=
PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1=
lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwib=
Glua19pZCI6MjE4NjEzMH0/39e06226bda7ca335ab5b403f783283491251e22bb0c05ee15d3=
2ad45c00aff7" style=3D"text-decoration:underline;color:#d40000;">wades into=
</a> an NBA mystery.<br/><em>meanwhile</em>=E2=80=A6<br/><strong>Julia Alex=
ander
</strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvY2FuLXRoZS1uYmEtc2F2ZS1wZWFjb2NrLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9ye=
SstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5=
Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHU=
wMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZD=
Q4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxODMyN=
jJ9/f51cc25741ae9658c05e640912de053d92a1d02293f962b6ad1ffd2cd171487b" style=
=3D"text-decoration:underline;color:#d40000;">unpacks</a> Peacock=E2=80=99s=
 NBA hopes and realities.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;text-align:left;line-height:0;"><tbody><tr><td style=3D"vertical-ali=
gn:middle;color:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#3=
9;;font-size:20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:12px;"><img alt=3D"WALL STREET" src=3D"https://userimg-asse=
ts.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:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:1=
6px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-hei=
ght: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/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvbGF6YXJkLWNlby1wZXRlci1vcnN6YWctb24tdHJ1bXAtdGFyaWZmLWVmZmVjdHMvP3V0b=
V9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0=
bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXR=
tX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dX=
RtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZ=
DQ4ZDI4IiwibGlua19pZCI6MjE4MzY0Nn0/53f397ea337f5ae53453889ea5600cf8b885931f=
134539bd684cbea8a10a20d3" style=3D"text-decoration:underline;color:#d40000;=
">chats with</a> <strong>Peter Orszag </strong>and <a href=3D"https://email=
=2Epuck.news/e/c/eyJlbWFpbF9pZCI6ImRnVD=
J4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVt=
VzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2lsbC1zYWtzLWdsb2JhbC1tYWt=
lLWl0cy0xMjAtbWlsbGlvbi1pbnRlcmVzdC1wYXltZW50Lz91dG1fY2FtcGFpZ249VGhlK0JhY2=
tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja=
3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0=
aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOj=
IxODAzMDl9/5e5a4cc29751009efe8dc53483c3005f1ecb1ead80e1854ed0a5d68fd580e067=
" style=3D"text-decoration:underline;color:#d40000;">digs into</a> the Saks=
 debt stack.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;text-align:left;line-height:0;"><tbody><tr><td style=3D"vertical-ali=
gn:middle;color:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#3=
9;;font-size:20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;padding-right:12px;"><img alt=3D"WASHINGTON" src=3D"https://userimg-asset=
s.customeriomail.com/images/client-env-107382/1729520870794_tbs-icon-washin=
gton_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:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:1=
6px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-hei=
ght: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/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3MvZ29wLWRlZmVuZHMtdHJ1bXAtYXMtZWNvbm9taWMtd29ycmllcy1tb3VudC8_dXRtX2Nhb=
XBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2Nv=
bnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWV=
kaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdG=
VybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkM=
jgiLCJsaW5rX2lkIjoyMTg0NjA4fQ/ef8f95cddc1bf08e90aa5d851f7ae8932230d4967fb5d=
76ece8fa8ab04cfb479" style=3D"text-decoration:underline;color:#d40000;">gat=
hers</a> all the latest Trump chatter on the Hill.<br/><em>and=E2=80=A6</em=
><br/><strong>Peter Hamby </strong><a href=3D"https://email.puck.news/e/c/e=
yJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJo=
cmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcGV0ZS1idXR0aWdpZWctZW50ZXJzLXRoZS1tYW5vc3B=
oZXJlLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMj=
lcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyO=
Vx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5p=
b1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDY=
xNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxODMxMzd9/8cc2367f0ff9b32eb3fc1808ec82b=
04bf841127723958fbb5ff1b005943b1808" style=3D"text-decoration:underline;col=
or:#d40000;">inspects</a> the <strong>Buttigieg </strong>=E2=80=9928 tea le=
aves.<br/><em>plus!</em><br/><strong>Abby Livingston
</strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1l=
EQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm=
5ld3Mvb3Nzb2Zmcy1pbXBlYWNobWVudC1zdGF0ZW1lbnQtc3BhcmtzLWRlbS1kZWJhdGUvP3V0b=
V9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0=
bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXR=
tX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dX=
RtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZ=
DQ4ZDI4IiwibGlua19pZCI6MjE4MTg5MX0/1b2c385cfe26aa653b05b0d1cac5229156aa7888=
e0a3c2b95881c162c6144cd6" style=3D"text-decoration:underline;color:#d40000;=
">measures</a> the impeachment momentum on the left, and <strong>Julia Ioff=
e </strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z=
1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNr=
Lm5ld3MvaG93LXRydW1wcy1mb3JlaWduLXBvbGljeS1yZXNlbWJsZXMtb2JhbWFzLz91dG1fY2F=
tcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY2=
9udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZ=
WRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90=
ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQ=
yOCIsImxpbmtfaWQiOjIxODYyMzB9/6208b0572aee95b566cde33d1e9dccf77d71f05753fda=
401bbe296f21780d3e2" style=3D"text-decoration:underline;color:#d40000;">exp=
lains</a> the unlikely similarities between Trump and Obama=E2=80=99s forei=
gn policy platforms.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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;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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><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" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;text-align:left;line-height:0;"><tbody><tr><td style=3D"vertical-ali=
gn:middle;color:#000;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#3=
9;;font-size:20px;font-weight:700;text-align:left;">
<table class=3D"b" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;displ=
ay:inline-block;padding-left:0px;padding-right:0px;" cellpadding=3D"0" cell=
spacing=3D"0" role=3D"presentation"><tbody><tr><td style=3D"vertical-align:=
middle;text-align:center;padding-top:0px;padding-bottom:0px;padding-left:0p=
x;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"cent=
er" style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td style=3D"font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;=
font-size:20px;font-weight:700;color:#000;vertical-align:middle;letter-spac=
ing:undefined;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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;padding-top:1=
6px;"><div style=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;=
,&#39;Arial&#39;;font-size:17px;font-weight:400;letter-spacing:0px;line-hei=
ght:1.5;text-align:left;mso-line-height-alt:26px;"><p style=3D"margin:0;"><=
strong>Graydon Carter </strong>and Dylan discuss the glory days of the maga=
zine business on
<a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktO=
T05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG9=
kY2FzdF9lcGlzb2RlL2dyYXlkb24tY2FydGVycy1nb2xkZW4teWVhcnMvP3V0bV9jYW1wYWlnbj=
1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50P=
VRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1l=
bWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibG=
lua19pZCI6MjE4MjkzMX0/932107c3e526cf1aedb4bfbca6e0f990d4d313e78fd36f62afacf=
cd585903e84" style=3D"text-decoration:underline;color:#d40000;"><em>The Gri=
ll Room</em></a>.<br/><em>and=E2=80=A6</em><br/><strong>Steve Kornacki </st=
rong>tells John about his pivot to sports on <a href=3D"https://email.puck.=
news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIcz=
hSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG9kY2FzdF9lcGlzb2RlL3RoZS1uaGxzL=
XRoaW4taWNlLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJG=
MjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkY=
yNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b2=
1lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmN=
mM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxODM1MDN9/ac0a76382ea805508f32f00=
6a340559eb88709d60fa968b6a3c8789dba66d1ca" style=3D"text-decoration:underli=
ne;color:#d40000;"><em>The Varsity</em></a>.<br/><em>and=E2=80=A6</em><br/>=
Lauren and creative director <strong>Jen Brill </strong>examine the art of =
brand afterlife in Asia
on <a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TT=
ktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mv=
cG9kY2FzdF9lcGlzb2RlL3pvbWJpZS1icmFuZHMtYW5kLWJhcm5leXMtaW4tamFwYW4vP3V0bV9=
jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV=
9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX=
21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRt=
X3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ=
4ZDI4IiwibGlua19pZCI6MjE4MjkzMn0/acd980ac6866a9b2dad7c2419a1787fa54789e0256=
4cb14bd0d8f1127904f1c4" style=3D"text-decoration:underline;color:#d40000;">=
<em>Fashion People</em></a>.<br/><em>and=E2=80=A6</em><br/><strong>John Hei=
lemann</strong> and Semafor=E2=80=99s <strong>Ben Smith </strong>dissect th=
e rise of group chat politics on <a href=3D"https://email.puck.news/e/c/eyJ=
lbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocm=
VmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG9kY2FzdF9lcGlzb2RlL2Jlbi1zbWl0aC10cnVtcHMtZ=
3Jhdml0eS1ib25nLXNpbGljb24tdmFsbGV5cy1zYW1pemRhdC8_dXRtX2NhbXBhaWduPVRoZStC=
YWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0J=
hY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2=
FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxN=
WUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lk=
IjoyMTg2NjYxfQ/98fc64231c3caf5b82adeafef1936d090477a698f6ec92ff7f7f3ead8899=
68d5" style=3D"text-decoration:underline;color:#d40000;"><em>Impolitic</em>=
</a>.<br/><em>and=E2=80=A6</em><br/>Listen to
the entirety of Matt=E2=80=99s two-part interview with Bloys on <a href=3D"=
https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp=
1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG9kY2FzdF9lcG=
lzb2RlL3doYXQtaXMtdGhlLWhiby1icmFuZC1pbi0yMDI1LXBhcnQtMS13aXRoLWNlby1jYXNle=
S1ibG95cy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1=
JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjU=
lMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjN=
jA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTgzNTAyfQ/0f25ff3568c7afa408b2181fe=
8c71206eedba316b5e1d1a7ed236344944342ab" style=3D"text-decoration:underline=
;color:#d40000;"><em>The Town</em></a>.<br/><em>and=E2=80=A6</em><br/>Peter=
 and Eriq forecast the Paramount endgame on <a href=3D"https://email.puck.n=
ews/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczh=
SYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG9kY2FzdF9lcGlzb2RlL2Nicy1jYXBpdH=
VsYXRpb24tdHJ1bXBzLW5ldy1tZWRpYS1jcmFja2Rvd24vP3V0bV9jYW1wYWlnbj1UaGUrQmFja=
3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNr=
c3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3R=
pb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2=
QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6M=
jE4NjY2Mn0/dcc7c4d1eb313da569ce7400b3deeb543f6e7ed7b593bb350bf1d3ec5772ed83=
" 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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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:0px;vertical-ali=
gn: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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn: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 di=
rectly in your
inbox. <strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnV=
DJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9w=
dWNrLm5ld3MvbmV3c2xldHRlcnMvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFM=
rJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUy=
slMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc=
291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJp=
bnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MTU2fQ/61108fb4a41d=
20b2d25f545e7ccbd16a0e2f08b1f6c17c5257f3a11685135b53" 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>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;"><div class=3D"r" ali=
gn=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentatio=
n" width=3D"30%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbod=
y><tr><td style=3D"font-size:1px;line-height:1px;border-top:2px solid #d400=
00;"><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;"><tbo=
dy><tr><td style=3D"padding-bottom:32px;padding-left:24px;padding-right:24p=
x;text-align:center;width:100%;"><h3 style=3D"margin:0;color:#000000;direct=
ion:ltr;font-family:&#39;PuckSerifDisplay&#39;,&#39;Georgia&#39;;font-size:=
24px;font-weight:400;letter-spacing:normal;line-height:1.2;text-align:cente=
r;margin-top:0;margin-bottom:0;mso-line-height-alt:29px;">The Debt</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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">On Thursday after=
noon, the first day of May, I headed uptown to meet a friend for lunch at T=
he Mark. The
Upper East Side is having a bit of a moment these days=E2=80=94the result, =
I suppose, of the suburbification of Tribeca and the arrival of a couple ch=
ic new dives (<strong>Robin Birley</strong>=E2=80=99s Maxime=E2=80=99s and =
Cafe Commerce)=E2=80=94among other factors. I always think of The Mark as g=
round zero for creative executives, rock stars of a certain age, and highly=
 pedigreed billionaires. It=E2=80=99s also a sentimental favorite of mine: =
I remember having a celebratory drink there more than four years ago as Puc=
k=E2=80=99s Series A
financing was rounding to completion. Anyway, the hotel was brimming with f=
ashion people who had arrived in town early for the Met Gala, the industry=
=E2=80=99s annual pilgrimage to honor <strong>Anna Wintour</strong>, which =
takes place Monday.</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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;padd=
ing-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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:16px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.2;text-ali=
gn:left;mso-line-height-alt:20px;"><p style=3D"margin:0;">A MESSAGE FROM OU=
R SPONSOR</p></div>
</td></tr></tbody></table>
<table class=3D"j oq n5" width=3D"100%" border=3D"0" cellpadding=3D"0" cell=
spacing=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"ht=
tps://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X=
1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuam9vcGl0ZXIuY29tL2F1Y3Rp=
b25zL2NvbnRlbXBvcmFyeS10YWtlLTE_dXRtX21lZGl1bT1lbWFpbFx1MDAyNnV0bV9jYW1wYWl=
nbj1DVFBUYWtlXzAxXHUwMDI2dXRtX3NvdXJjZT1wdWNrXHUwMDI2dXRtX2NvbnRlbnQ9aW1hZ2=
VcdTAwMjZ1dG1fdGVybT1hdWN0aW9uXHUwMDI2dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrL=
StMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSst=
K0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDA=
yNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OG=
QyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTg2OTM1f=
Q/40d0c26c23a8bc4ea8c79d0a02cef874c688b0e9715b468b22b8d4306ac260a4" target=
=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img src=3D"https://puck=
=2Enews/wp-content/uploads/2025/05/PUC=
K-ad-600x400-1.gif" style=3D"display:bl=
ock;height:auto;border:0;width:100%;" width=3D"552" alt=3D"JOOPITER" title=
=3D"JOOPITER" height=3D"auto"/></a></div></div>
</td></tr></tbody></table>
<table class=3D"j n" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspac=
ing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rsp=
ace:0pt;mso-hide:all;display:none;max-height:0;overflow:hidden;"><tbody><tr=
><td style=3D"padding-bottom:16px;width:100%;"><div class=3D"r" align=3D"ce=
nter"><div style=3D"max-width:552px;"><a href=3D"https://email.puck.news/e/=
c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iL=
CJocmVmIjoiaHR0cHM6Ly93d3cuam9vcGl0ZXIuY29tL2F1Y3Rpb25zL2NvbnRlbXBvcmFyeS10=
YWtlLTE_dXRtX21lZGl1bT1lbWFpbFx1MDAyNnV0bV9jYW1wYWlnbj1DVFBUYWtlXzAxXHUwMDI=
2dXRtX3NvdXJjZT1wdWNrXHUwMDI2dXRtX2NvbnRlbnQ9aW1hZ2VcdTAwMjZ1dG1fdGVybT1hdW=
N0aW9uXHUwMDI2dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyR=
jI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJG=
MjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9=
tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTg2OTM1fQ/40d0c26c23a8bc4ea8c79d=
0a02cef874c688b0e9715b468b22b8d4306ac260a4" target=3D"_blank" style=3D"outl=
ine:none" tabindex=3D"-1"><img src=3D"https://puck.news/wp-content/uploads/=
2025/05/PUCK-ad-600x700-1.gif" style=3D"display:block;height:auto;border:0;=
width:100%;" width=3D"552" alt=3D"JOOPITER" title=3D"JOOPITER" height=3D"au=
to"/></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-b=
reak:break-word;"><tbody><tr><td><div style=3D"color:#000000;direction:ltr;=
font-family:&#39;Inter&#39;,&#39;Arial&#39;;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;margin-bottom:0px;"><strong>JOOPITER</strong>, the =
online auction platform founded by Pharrell Williams, presents <em>The Cont=
emporary
Take</em>=E2=80=94its inaugural auction dedicated to contemporary art. Gues=
t curator Martha Stewart shares her perspective on the sale featuring both =
blue-chip and emerging artists.</p><p style=3D"margin:0;margin-bottom:0px;"=
>=C2=A0</p><p style=3D"margin:0;margin-bottom:0px;">Bid now, before the auc=
tion closes May 6 on
<strong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lE=
QU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly93d3cuam9=
vcGl0ZXIuY29tL2F1Y3Rpb25zL2NvbnRlbXBvcmFyeS10YWtlLTE_dXRtX21lZGl1bT1lbWFpbF=
x1MDAyNnV0bV9jYW1wYWlnbj1DVFBUYWtlXzAxXHUwMDI2dXRtX3NvdXJjZT1wdWNrXHUwMDI2d=
XRtX2NvbnRlbnQ9aW1hZ2VcdTAwMjZ1dG1fdGVybT1hdWN0aW9uXHUwMDI2dXRtX2NhbXBhaWdu=
PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ=
9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
VtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mN=
mM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJs=
aW5rX2lkIjoyMTg2OTM1fQ/40d0c26c23a8bc4ea8c79d0a02cef874c688b0e9715b468b22b8=
d4306ac260a4" target=3D"_blank" style=3D"text-decoration:underline;color:#d=
40000;" data-mce-attribute-name-1=3D"" data-mce-attribute-value-1=3D"" rel=
=3D"noopener">JOOPITER.com.</a></strong></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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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-al=
ign: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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">I spend a lot of =
time contemplating the contours of every market that Puck covers=E2=80=94th=
e macroeconomic issues,
the players and strivers, the hegemons and disruptors, alike. But I=E2=80=
=99ve been devoting an inordinate number of hours to scrutinizing the fashi=
on industry of late. In particular, I=E2=80=99ve become fascinated by the t=
ravails of Saks Global, the franken-retailer created last year in the roll-=
up of Saks, Neiman Marcus, and Bergdorf. Seemingly since day one, the compa=
ny has been star-crossed=E2=80=94rounds of layoffs, payment restructuring, =
store closures, etcetera=E2=80=94but, as has become the case with our broad=
er
economy, the real leading indicator is the bond market.<br/><br/>The compan=
y=E2=80=99s $2.2 billion publicly traded senior secured bond, due in 2029, =
was trading at <em>67 cents</em> on the dollar last week and yielding 22 pe=
rcent. In other words, the bond had lost a third of its value in the four m=
onths since it was issued last December as part of the Saks Fifth Avenue pa=
rentco=E2=80=99s $2.7 billion acquisition of Neiman Marcus Group. Meanwhile=
, a $120 million-ish interest payment is due on the bonds at the end
of June.<br/><br/>In many ways, Saks Global represents what remains of the =
multibrand luxury retail experience in an ever more vertically integrated, =
direct-to-consumer age. And while brands and conglomerates may take issue w=
ith the company=E2=80=99s tactics=E2=80=94they=E2=80=99ve pushed back payme=
nts to vendors and partnered with Amazon, among other steps=E2=80=94they al=
l <em>need </em>Saks Global to survive. It is, after all, a systemically im=
portant financial institution=E2=80=94SIFI, as they say on Wall Street=E2=
=80=94in the fashion and
retail space. The company sells, merchandizes, and stores product, and many=
 brands would be cooked without it.<br/><br/>The Saks saga has factored sig=
nificantly in the recent work of two generationally talented partners here =
at Puck, both of whom have explored the dynamic and second-order effects wi=
th aplomb and rigor. In <a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9p=
ZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR=
0cHM6Ly9wdWNrLm5ld3Mvd2lsbC1zYWtzLWdsb2JhbC1tYWtlLWl0cy0xMjAtbWlsbGlvbi1pbn=
RlcmVzdC1wYXltZW50Lz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlM=
kYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUy=
RjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1=
jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYW=
wiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjIxODAzMDl9/5e5a4cc29751009e=
fe8dc53483c3005f1ecb1ead80e1854ed0a5d68fd580e067" style=3D"text-decoration:=
underline;color:#d40000;"><em>The Saks Debt Scaries</em></a>, the
peerless <strong>Bill Cohan </strong>evaluates the company=E2=80=99s financ=
ial viability and the predatory interests of its creditors. <strong>Lauren =
Sherman</strong>, inarguably the most influential writer in the fashion ind=
ustry, takes a more granular look at the market aftershocks in <a href=3D"h=
ttps://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1=
X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2lsbC1zYWtzLWZ=
vbGxvdy1iYXJuZXlzLWludG8tYmFua3J1cHRjeS8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3Rvcn=
krLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9ye=
SstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1=
MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ=
0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyMTg1MT=
c0fQ/46fa67660d903ff312c011c5d2f018c27fa9610c056fd55e9c7ff01c4a81ee68" styl=
e=3D"text-decoration:underline;color:#d40000;"><em>Is Saks Too Big to Fail?=
</em></a><em>. </em>Both stories articulate the lingering anxiety within
the industry, despite all the pomp at The Mark, about how this might shake =
out.<br/><br/>If you have any time this weekend, I=E2=80=99d urge you to cu=
rl up on your outdoor furniture and give both pieces a read. You=E2=80=99ll=
 see the industry in a new way, and feel like you=E2=80=99re reading the bi=
ography of our age, one day at a time. That, of course, is something that y=
ou can only find in Puck.</p></div>
</td></tr></tbody></table>
<table class=3D"oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;"><div class=3D"r" ali=
gn=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" role=3D"presentatio=
n" width=3D"30%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbod=
y><tr><td style=3D"font-size:1px;line-height:1px;border-top:2px solid #d400=
00;"><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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;=
;font-size:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-ali=
gn:left;mso-line-height-alt:26px;"><p style=3D"margin:0;">Have a great week=
end,<br/>Jon</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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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:32px;padding-left:24px;padding-right:24px;padding-=
top:32px;vertical-align:top;">
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"width:100%;"><div class=3D"r" align=3D"cent=
er"><div style=3D"max-width:552px;"><a href=3D"https://email.puck.news/e/c/=
eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJ=
ocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam9pbi8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3Rvcn=
krLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9ye=
SstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1=
MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ=
0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo1NTg2Nz=
l9/caed4689ef6e97eafb482bb998db12fded56cb4b7c4c7a3c615465b233c40da1" target=
=3D"_blank" style=3D"outline:none" tabindex=3D"-1"><img src=3D"https://user=
img-assets.customeriomail.com/images/client-env-107382/1738620896936_leads-=
image-generic-update-2025-02-03_01JK6Y31Q47TYPV5EA9013RYAB.jpg" style=3D"di=
splay:block;
height:auto;border:0;width:100%;" width=3D"552" alt=3D"Start your free tria=
l today" title=3D"Start your free trial today" height=3D"auto"/></a></div><=
/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" cells=
pacing=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" cellsp=
acing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-r=
space:0pt;background-color:#ffffff;border-radius:0;color:#000000;width:600p=
x;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 class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacin=
g=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspac=
e:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;padding-top:32px;width:=
100%;"><div class=3D"r" align=3D"center"><div style=3D"max-width:552px;"><i=
mg src=3D"https://userimg-assets.customeriomail.com/images/client-env-10738=
2/1738778509539_footer-logo-desktop-update-2025-02-05_01JKBMD09PMV7KY6RTKWS=
S42R2.png" style=3D"display:block;height:auto;border:0;width:100%;" width=
=3D"552" alt=3D"Puck" title=3D"Puck" height=3D"auto"/></div></div>
</td></tr></tbody></table>
<table class=3D"z oq" width=3D"100%" border=3D"0" cellpadding=3D"0" cellspa=
cing=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rs=
pace:0pt;"><tbody><tr><td style=3D"padding-bottom:32px;text-align:center;pa=
dding-right:0px;padding-left:0px;"><div class=3D"r" align=3D"center">
<table class=3D"y" width=3D"208px" border=3D"0" cellpadding=3D"0" cellspaci=
ng=3D"0" role=3D"presentation" style=3D"mso-table-lspace:0pt;mso-table-rspa=
ce:0pt;display:inline-block;"><tbody><tr><td style=3D"padding:0 10px 0 10px=
;"><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TT=
ktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9mYWNlYm9vay5j=
b20vcHVja2RvdG5ld3M_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJ=
GMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMk=
YzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y=
3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFs=
IjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoxMH0/090f85ee0f0ff96a6784904=
b33957d5213c259018dea91aea1c5efc6ad92282d" target=3D"_blank"><img src=3D"ht=
tps://d15k2d11r6t6rl.cloudfront.net/pub/bfra/0r5b4t0n/t11/lt4/v5y/footer-so=
cial-facebook.png" width=3D"32" height=3D"auto" alt=3D"Facebook" title=3D"F=
acebook" style=3D"display:block;height:auto;border:0;"/></a>
</td><td style=3D"padding:0 10px 0 10px;"><a href=3D"https://email.puck.new=
s/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSY=
z0iLCJocmVmIjoiaHR0cHM6Ly90d2l0dGVyLmNvbS9QdWNrTmV3cz91dG1fY2FtcGFpZ249VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGU=
rQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haW=
xfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwN=
jE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtf=
aWQiOjExfQ/3fda8882d5d7296557f9e84e8654b310d739f768ca6e7ea6f067afda1563f58c=
" target=3D"_blank"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net/pub/b=
fra/0r5b4t0n/n25/uhh/ueo/footer-social-twitter.png" width=3D"32" height=3D"=
auto" alt=3D"Twitter" title=3D"Twitter" style=3D"display:block;height:auto;=
border:0;"/></a>
</td><td style=3D"padding:0 10px 0 10px;"><a href=3D"https://email.puck.new=
s/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSY=
z0iLCJocmVmIjoiaHR0cHM6Ly9pbnN0YWdyYW0uY29tL3B1Y2tkb3RuZXdzP3V0bV9jYW1wYWln=
bj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9jb250ZW5=
0PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX21lZGl1bT=
1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Z=
jZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiwi=
bGlua19pZCI6MTJ9/9b7a4529555ee283df1ff6068aa1ec5fef2725e31a939ab14c0c7b1e7e=
945a53" target=3D"_blank"><img src=3D"https://d15k2d11r6t6rl.cloudfront.net=
/pub/bfra/0r5b4t0n/hfx/bkm/tv2/footer-social-instagram.png" width=3D"32" he=
ight=3D"auto" alt=3D"Instagram" title=3D"Instagram" style=3D"display:block;=
height:auto;border:0;"/></a>
</td><td style=3D"padding:0 10px 0 10px;"><a href=3D"https://email.puck.new=
s/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSY=
z0iLCJocmVmIjoiaHR0cHM6Ly9saW5rZWRpbi5jb20vY29tcGFueS9wdWNrbmV3cz91dG1fY2Ft=
cGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29=
udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZW=
RpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90Z=
XJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQy=
OCIsImxpbmtfaWQiOjEzfQ/79c0c586a8dd860389ba244e3263485c8a2bec9c00cfe856de38=
32505c88b856" target=3D"_blank"><img src=3D"https://d15k2d11r6t6rl.cloudfro=
nt.net/pub/bfra/0r5b4t0n/z5a/sg3/kgl/footer-social-linkedin.png" width=3D"3=
2" height=3D"auto" alt=3D"LinkedIn" title=3D"LinkedIn" style=3D"display:blo=
ck;height:auto;border:0;"/></a>
</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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;fo=
nt-size:14px;font-weight:400;letter-spacing:0px;line-height:1.2;text-align:=
left;mso-line-height-alt:17px;"><p style=3D"margin:0;margin-bottom:16px;">N=
eed help? Review our=C2=A0<strong><a href=3D"https://email.puck.news/e/c/ey=
JlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJoc=
mVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZmFxLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSst=
K0xFQURTKyUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0=
rTEVBRFMrJTI4NSUyRjMlMkYyNSUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMD=
I2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4Z=
DI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI1NTQzNX0/=
bdd9002b3457046c7c6e507fcb724263d37daf5a9cb38d02a4b7822c924cbc47" target=3D=
"_blank" title=3D"FAQs page" style=3D"text-decoration:none;color:#d40000;" =
rel=3D"noopener">FAQ page</a></strong>=C2=A0or=C2=A0<strong><a href=3D"mail=
to:fritz@puck.news?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&am=
p;utm_content=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&amp;utm_medium=3Dema=
il_action&amp;utm_source=3Dcustomer.io&amp;utm_term=3Df6c60615e3d301d48d28"=
 target=3D"_blank" rel=3D"noopener" title=3D"contact us" style=3D"text-deco=
ration:underline;color:#d40000;">contact us</a></strong>=C2=A0for assistanc=
e. For brand partnerships, email=C2=A0<strong><a href=3D"mailto:ads@puck.ne=
ws?utm_campaign=3DThe+Backstory+-+LEADS+%285%2F3%2F25%29&amp;utm_content=3D=
The+Backstory+-+LEADS+%285%2F3%2F25%29&amp;utm_medium=3Demail_action&amp;ut=
m_source=3Dcustomer.io&amp;utm_term=3Df6c60615e3d301d48d28" target=3D"_blan=
k" rel=3D"noopener" title=3D"brand partnerships" style=3D"text-decoration:
underline;color:#d40000;">ads@puck.news</a></strong>.</p><p style=3D"margin=
:0;">You received this email because you signed up to receive emails from P=
uck, or as part of your Puck account associated with enzo@showfile.com. To =
stop receiving this newsletter and/or manage all your email preferences, <s=
trong><a href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU=
5TTktOT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld=
3MvdW5zdWJzY3JpYmUvP3N1YnNjcmlwdGlvbj10aGVfYmFja3N0b3J5XHUwMDI2ZW1haWw9ZW56=
b0BzaG93ZmlsZS5jb21cdTAwMjZkZWxpdmVyeV9pZD1kZ1QyeGdZREFOU05LTk9OS0FHV2xqdV9=
RR3VmcTZ1bVc4SHM4UmM9XHUwMDI2dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUy=
slMjg1JTJGMyUyRjI1JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTK=
yUyODUlMkYzJTJGMjUlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9z=
b3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsIml=
udGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo2ODA1MjJ9/ea95ed82d=
089dfe0010a2521193e5e86e1f4dd4d7459cecec383c521a5890c9d" target=3D"_blank" =
title=3D"email preferences" style=3D"text-decoration:
underline;color:#d40000;" rel=3D"noopener">click here</a></strong>.</p></di=
v>
</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;"><tbo=
dy><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"presentatio=
n" width=3D"100%" style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbo=
dy><tr><td style=3D"font-size:1px;line-height:1px;border-top:1px solid #d9d=
9d9;"><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-b=
reak:break-word;"><tbody><tr><td style=3D"padding-bottom:32px;"><div style=
=3D"color:#000;direction:ltr;font-family:&#39;Inter&#39;,&#39;Arial&#39;;fo=
nt-size:14px;font-weight:400;letter-spacing:0px;line-height:1.2;text-align:=
left;mso-line-height-alt:17px;"><p style=3D"margin:0;">Puck is published by=
 Heat Media LLC.=C2=A0107=C2=A0Greenwich=C2=A0St, New York, NY 10006</p></d=
iv>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>


<img src=3D"https://email.puck.news/e/o/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTkt=
OT05LQUdXbGp1X1FHdWZxNnVtVzhIczhSYz0ifQ=3D=3D" style=3D"height: 1px !import=
ant; max-height: 1px !important; max-width: 1px !important; width: 1px !imp=
ortant; display: none !important;" alt=3D""/></body></html>
--c29128db20ce51bfed9ca6a4c639be2b82fae08a43535fc9fbdb27bd70e9--