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Welcome back to The Backstory, your weekend digest of the very best of Puck. 
It was another extraordinary week: Matt Belloni revealed his media C.E.O. 
pay gluttony index; Kim Masters took the temperature on Netflix’s theatrical 
reawakening; Eriq Gardner weighed the Blake Lively–Justin Baldoni endgame 
and previewed the N.I.L. private equity reckoning.  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ 
͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ 
͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏  ͏ 
 ͏                                      
             






May 16, 2026









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PREVIEW VERSION


Start a free 14-day trial to unlock access to Puck.







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Jon Kelly


Good morning,

Welcome back to The Backstory, your weekend digest of the very best of Puck.

It was another extraordinary week: Matt Belloni revealed his media C.E.O. 
pay gluttony index; Kim Masters took the temperature on Netflix’s theatrical 
reawakening; Eriq Gardner weighed the Blake Lively–Justin Baldoni endgame 
and previewed the N.I.L. private equity reckoning; Dylan Byers interrogated 
Byron Allen’s BuzzFeed rescue mission and the Times-Bibi dust-up; Bill Cohan 
ran the trillionaire math on Elon Musk; Ian Krietzberg parsed the White 
House’s sudden A.I. regulatory pivot; John Ourand probed FIFA’s World Cup 
press turbulence; Lauren Sherman unpacked fashion’s licensing-industrial 
complex; Rachel Strugatz charted Bobbi Brown’s second-act mic drop; Malique 
Morris evaluated Vinted’s American ambitions; and Marion Maneker reviewed 
the early sales of the New York spring auction gauntlet.

Meanwhile, down in D.C., Leigh Ann Caldwell trekked through Trump’s tariff 
fallout with Rep. Adrian Smith and decoded the D.C.C.C.’s anti-progressive 
gambit; Marianna Sotomayor investigated Hakeem Jeffries’ Dem cat-herding; 
and Peter Hamby spun the tale of Spencer Pratt’s ascent in the L.A. mayor’s 
race.

Check out these stories, and others, via the links below. And stick around 
for the backstory on how it all came together.

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FASHION


Lauren Sherman diagnoses fashion’s dependence on Jamie Salter’s ABG 
licensing kingdom and pressure-tests A.P.C.’s reinvention under L Catterton.
and…
Rachel Strugatz traces Bobbi Brown’s $200 million empire-building adventure 
at Jones Road.
meanwhile…
Malique Morris tests Vinted’s American resale ambitions.







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ART MARKET


Marion Maneker reviews the spring auction showdown and tours the New York 
fair week gallery rush.
and…
Ingrid Abramovitch drops in on Joris Laarman’s eco-futurist comeback.







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HOLLYWOOD


Matt Belloni tallies the Hollywood C.E.O. gluttony index.
and…
Kim Masters digs into the Ted Sarandos rumor mill around Netflix’s 
theatrical thaw.
meanwhile…
Eriq Gardner sizes up the Lively–Baldoni post-settlement scoreboard.







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A.I.


Ian Krietzberg deciphers Elon Musk’s pivot from frontier models to becoming 
a compute landlord, and reads the tea leaves on the White House’s sudden 
A.I. preapproval flirtation.







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AIR MAIL


Hilary Rose solves the Fergie dilemma.
and…
Paul Goldberger assesses Trump’s monument to himself.
meanwhile…
Michael Gross calculates the pied-à-terre tax.







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MEDIA


Dylan Byers interrogates Byron Allen’s $20 million BuzzFeed gamble and drops 
a mic into the New York Times crying rooms.







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SPORTS


John Ourand probes FIFA’s World Cup P.R. nightmare.
and…
Eriq previews the N.I.L. private equity reckoning.







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WALL STREET


Bill Cohan crunches the numbers on Elon’s paper trillionaire status and 
spotlights Wes Edens’ London restructuring workaround.







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WASHINGTON


Peter Hamby profiles Spencer Pratt’s improbable L.A. mayoral surge.
and…
Leigh Ann Caldwell sits down for a conversation with Rep. Adrian Smith for 
our latest Puck Power Breakfast, presented by the American Chemistry 
Council.
meanwhile…
Marianna Sotomayor chronicles a House Democratic strategy sesh.







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PODCASTS


Dylan, John, and CNBC’s Alex Sherman break down the NFL rights standoff 
between legacy networks and streamers on The Grill Room.
and…
Ourand and investor Jason Stein predict the private equity industry’s next 
foray into sports on The Varsity.
and…
Lauren and Sophia Rivka Rossi philosophize about Hailey Bieber’s Alaïa 
moment and Ozempic in France on Fashion People.
and…
John Heilemann and CFR president Michael Froman trade notes on the Trump-Xi 
summit and the Ukraine pivot on Impolitic.
and…
Matt chats live with legendary writer-producer David E. Kelley about the 
craft of TV on The Town.
and…
Peter rings up Matt to handicap The Mandalorian and Grogu and Hollywood’s 
Cannes ghosting on The Powers That Be.

As a reminder, you can update your profile at any time to get more stories 
like these directly in your inbox. Click here to customize your email 
settings.





A Tale of Two Rothkos



Last week, my partner Marion Maneker briefly took some time away from his 
busy reporting schedule to cameo as a barista on Puck’s traveling Airstream, 
which rolled around Manhattan from TEFAF to Sotheby’s to Christie’s for the 
all-important May art sales. The art market, which Marion chronicles in his 
excellent newsletter, Wall Power (sign up here), is one of Puck’s most 
important domains. And this seemed like a fun and off-kilter way to tip our 
hat to the market and get in on the action.


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Not only are we proud of the inroads we’ve made in the industry, but it also 
serves as a nexus for so many of our power corners. To wit: This year’s 
auction calendar is chockablock with collections ranging from the 
media-baron Newhouses to Robert Mnuchin, who originally made his coin in 
banking before becoming an important dealer. (His son, as you know, is Steve 
Mnuchin—a fellow Goldman alum who went on to dabble in the entertainment 
industry before becoming the Treasury secretary during Trump I.)

In many ways, the art world is also a proxy for various echelons of our 
economy. The market collapsed during Covid, roared in its easy-money 
aftermath, and then cooled again. But sales have been regaining strength in 
the middle of the market—and, as Marion has diligently noted, an unbridled 
enthusiasm has begun to take hold near the top. After all, Christie’s has 
$1.08 billion in presale estimates this season. Sotheby’s has about $665 
million. “As a very seasoned collector told me outside TEFAF, the time to 
buy was last year, when confidence (and competition) were low,” Marion noted 
this week in his phenomenal piece, Sotheby’s $433 Million Pep Talk. “He said 
the market was overly pessimistic at the time—and, perhaps, a little too 
optimistic this season.”


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Of course, timing market cycles is almost impossible. But that hasn’t 
stopped the houses from trying. Indeed, Marion’s brilliant accompanying 
piece, Seven Days in May, offers an even broader look into the economy 
through the prism of the art world, which may be best encapsulated by a 
bizarre micro-battle over a pair of Rothkos. As Marion put it, “Two major 
Rothkos on offer illustrate the dynamic between the two houses better than 
anything. Christie’s was the first to secure Agnes Gund’s consignment, a 
moody blue-and-green painting with a strong red stripe, estimated at a 
powerful $80 million. With fees it would be the most expensive Rothko sold 
at auction, and Christie’s was taking no chances with its presentation.”

He continued: “Over the weekend, an advisor shared with me a photograph of 
the wall where Christie’s had hung the painting—except the painting had been 
removed. In its place was only the effect of the lights that auction houses 
use to enhance artworks on view. Christie’s had gone the extra mile by 
adding a second light with more lumens to make the red stripe at the bottom 
of the art work positively vibrate off the canvas. For much of the past few 
months, there’s been talk in the market that Christie’s was having trouble 
finding a backer for the Gund Rothko at such a lofty price. Now, according 
to Christie’s website, it has. And the final price will almost certainly be 
affected by the sale of Mnuchin’s red Rothko at Sotheby’s, which may appeal 
to a broader range of plutocrats at a lower price point of $70 million. If 
the Mnuchin work sparks a bidding war, it could easily reprice the Gund 
Rothko.”


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And finally: “Christie’s may worry that the Sotheby’s sale will deprive it 
of one bidder for a major Rothko and thereby diminish the chances of a 
pitched battle. (You would be naive to imagine that the Mnuchin Rothko is 
preceding the Gund Rothko to the auction block by happenstance…) But two 
determined bidders are all it takes to launch such a battle. And if two 
buyers go at the first Rothko with hammer and tongs, driving it to a price 
in the nine-figure range, the received wisdom is that more bidders would be 
pulled in for the Gund Rothko the following week.”

In the end, the first Rothko had a hammer price of $74 million, which netted 
out to about $86 million with fees. This price is going to reverberate next 
week and through the rest of the buying season—an indication of the quantums 
of dry powder that exist in our economy, unworried about war in Iran or 
domestic gas prices. (You don’t always need to roll around in an Airstream 
to gauge such sentiment, but it helps…) It’s a unique insight into how the 
upper echelons of our economy really operate, and the sort of delightful 
observation that you can only devour at Puck.





Have a great weekend,

Jon


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<body =
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back to The Backstory, your weekend digest of the very best of Puck. It =
was another extraordinary week: Matt Belloni revealed his media C.E.O. =
pay gluttony index; Kim Masters took the temperature on =
Netflix=E2=80=99s theatrical reawakening; Eriq Gardner weighed the Blake =
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<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
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y','Georgia';font-size:20px;font-weight:400;padding-bottom:12px;" =
align=3D"center">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:8px;"><img alt=3D"PREVIEW =
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ght:400;color:#000000;vertical-align:middle;letter-spacing:normal;text-al=
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<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
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"><tbody><tr><td class=3D"r"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:14px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:cent=
er;mso-line-height-alt:21px;"><p style=3D"margin:0;"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9pbi8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiU=
yOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2=
JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3Rvb=
WVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6Im=
Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6NTU4Njc5fQ/09f0ed176b78967636b3=
6456cd124603de1edf10a47e7a4256171c33fcabff29" target=3D"_blank" =
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14-day trial</a> to unlock access to Puck.</p></div>
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<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-top:24px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid =
#d9d9d9;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</td></tr></tbody></table>
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<table class=3D"t" align=3D"center" width=3D"100%" border=3D"0" =
cellpadding=3D"0" cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#d40000;font-family:'PuckSerifDispla=
y','Georgia';font-size:20px;font-weight:400;padding-bottom:24px;" =
align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:0px;"><img alt=3D"Jon Kelly" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1739207840362_avatar-jon-update-2025-02-10_01JKRDV4MWG66YABQ09KYQKNAE.pn=
g" height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:400;color:#d40000;vertical-align:middle;letter-spacing:normal;text-al=
ign:left;line-height:normal;">Jon Kelly
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e: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/>Welcome back to The Backstory, your weekend digest of =
the very best of
Puck.<br/><br/>It was another extraordinary week: <strong>Matt =
Belloni</strong> revealed his media C.E.O. pay gluttony index; =
<strong>Kim Masters</strong> took the temperature on Netflix=E2=80=99s =
theatrical reawakening; <strong>Eriq Gardner</strong> weighed the =
<strong>Blake Lively</strong>=E2=80=93<strong>Justin Baldoni</strong> =
endgame and previewed the N.I.L. private equity reckoning; <strong>Dylan =
Byers</strong> interrogated <strong>Byron Allen</strong>=E2=80=99s =
BuzzFeed rescue mission and the
<em>Times</em>-<strong>Bibi</strong> dust-up; <strong>Bill =
Cohan</strong> ran the trillionaire math on <strong>Elon Musk</strong>; =
<strong>Ian Krietzberg</strong> parsed the White House=E2=80=99s sudden =
A.I. regulatory pivot; <strong>John Ourand</strong> probed =
FIFA=E2=80=99s World Cup press turbulence; <strong>Lauren =
Sherman</strong> unpacked fashion=E2=80=99s licensing-industrial =
complex; <strong>Rachel Strugatz</strong> charted <strong>Bobbi =
Brown</strong>=E2=80=99s second-act mic drop; <strong>Malique =
Morris</strong>
evaluated Vinted=E2=80=99s American ambitions; and <strong>Marion =
Maneker</strong> reviewed the early sales of the New York spring auction =
gauntlet.<br/><br/>Meanwhile, down in D.C., <strong>Leigh Ann =
Caldwell</strong> trekked through <strong>Trump</strong>=E2=80=99s =
tariff fallout with Rep. <strong>Adrian Smith </strong>and decoded the =
D.C.C.C.=E2=80=99s anti-progressive gambit;
<strong>Marianna Sotomayor </strong>investigated <strong>Hakeem =
Jeffries</strong>=E2=80=99 Dem cat-herding; and <strong>Peter =
Hamby</strong> spun the tale of <strong>Spencer Pratt</strong>=E2=80=99s =
ascent in the L.A. mayor=E2=80=99s race.<br/><br/><em>Check out these =
stories, and others, via the links below. And stick around for the =
backstory on how it all came together.</em></p></div>
</td></tr></tbody></table>
<table class=3D"g p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:22px;" align=3D"center"><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9pbi8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiU=
yOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2=
JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3Rvb=
WVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6Im=
Y2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6NTU4Njc5fQ/09f0ed176b78967636b3=
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#ffffff;display:inline-block;font-family:'Inter','Arial';font-size:14px;f=
ont-weight:700;mso-border-alt:none;text-align:center;width:60%;word-break=
:keep-all;letter-spacing:normal;"><span =
style=3D"word-break:break-word;padding-left:20px;padding-right:20px;paddi=
ng-top:8px;padding-bottom:8px;display:block;"><span =
style=3D"word-break:break-word;line-height:28px;">START A FREE 14-DAY =
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cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"FASHION" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520868807_tbs-icon-fashion_01JAQQM7F4X1VMN1QPH2NRBDZ8.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">FASHION
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;"><strong>Lauren =
Sherman</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvZm=
FzaGlvbnMtbGljZW5zaW5nLWVwaWRlbWljLWhvdy1hYmctYmVjYW1lLXRvLWJpZy10by1mYWl=
sLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5=
XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlM=
jlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzM1OTYzfQ/ee9e1ca050b70359bb544=
d21173f21a3ce56af32ab357e6c5ee4f646c3435a3d" =
style=3D"text-decoration:underline;color:#d40000;">diagnoses</a> =
fashion=E2=80=99s dependence on <strong>Jamie Salter</strong>=E2=80=99s =
ABG licensing kingdom and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdG=
hlLWZ1dHVyZS1vZi1hcGMtdW5kZXItbC1jYXR0ZXJ0b24vP3V0bV9jYW1wYWlnbj1UaGUrQmF=
ja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUr=
QmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1ha=
WxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2Yz=
YwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImx=
pbmtfaWQiOjI3Mjk1MjF9/48293377ef2ac07c3d6a63894e8d22c1ea0f9b819f944b8cd69=
492e68bf7d87e" =
style=3D"text-decoration:underline;color:#d40000;">pressure-tests</a> =
A.P.C.=E2=80=99s reinvention under L =
Catterton.<br/><em>and=E2=80=A6</em><br/><strong>Rachel =
Strugatz</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvam=
9uZXMtcm9hZC1kb21pbmF0aW9uLWhvdy1ib2JiaS1icm93bi1iZWF0LWhlci1vbGQtYnJhbmQ=
vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYlMjlc=
dTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyNiUyO=
Vx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci=
5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM=
2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI3MzQ2NzZ9/b89c40d412fc55fa91d2ab4=
aedfaa4bcca3b40cb5c902aa33aee1ca71148b070" =
style=3D"text-decoration:underline;color:#d40000;">traces</a> =
<strong>Bobbi Brown</strong>=E2=80=99s $200 million empire-building =
adventure at Jones =
Road.<br/><em>meanwhile</em>=E2=80=A6<br/><strong>Malique =
Morris</strong> <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvY2=
FuLXZpbnRlZC1jcmFjay10aGUtdXMtcmVzYWxlLW1hcmtldC8_dXRtX2NhbXBhaWduPVRoZSt=
CYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRo=
ZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lb=
WFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiw=
ibGlua19pZCI6MjczMjg1NH0/59034d667f3fd875b51450d57ea35df958129334a28d1074=
1ef79d6fe4828eb6" =
style=3D"text-decoration:underline;color:#d40000;">tests</a> =
Vinted=E2=80=99s American resale ambitions.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"ART MARKET" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520868285_tbs-icon-art_01JAQQM732KCZHXS8XJBMTGS8Y.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">ART MARKET
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;"><strong>Marion =
Maneker</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdC1zb3RoZWJ5cy1mb3VyLWh1bmRyZWQtdGhpcnR5LXRocmVlLW1pbGxpb24tZG9sbGFyLW5=
pZ2h0LXJlYWxseS1tZWFucy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUysl=
Mjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEU=
yslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG=
1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjg=
iLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjczNzQwNH0/=
882af03e4ef627a83c6626cc507ec918972d4c818f8c45c6e41610fb766ba5ea" =
style=3D"text-decoration:underline;color:#d40000;">reviews</a> the =
spring auction showdown and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbn=
ljLWFydC1mYWlyLXNlYXNvbi1hLWdhbGxlcnktcnVzaC1iZWZvcmUtdGhlLWF1Y3Rpb25zLz9=
1dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUw=
MDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcd=
TAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW=
9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA=
2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzI2MTA3fQ/dba4904d22f6d171dee6f6c0f=
8beba1344a5e3c117b1eff81ad1defaf3fe06bb" =
style=3D"text-decoration:underline;color:#d40000;">tours</a> the New =
York fair week gallery rush.<br/><em>and=E2=80=A6</em> =
<br/><strong>Ingrid Abramovitch</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
5zaWRlLWpvcmlzLWxhYXJtYW5zLWZpcnN0LWdhbGxlcnktc2hvdy1pbi1vdmVyLWEtZGVjYWR=
lLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5=
XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlM=
jlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzMyNDQ2fQ/8620b18fe46a2b3945854=
4e93b731af9ecd27fd8c293f9c182cfcfc278bc6c78" =
style=3D"text-decoration:underline;color:#d40000;">drops in on</a> =
<strong>Joris Laarman</strong>=E2=80=99s eco-futurist =
comeback.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"HOLLYWOOD" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520869111_tbs-icon-hollywood_01JAQQM7RNJPAHAYAT4JVP2FGA.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">HOLLYWOOD
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;"><strong>Matt =
Belloni</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvY2=
VvLWdsdXR0b255LWluZGV4LWhvbGx5d29vZC1leGVjdXRpdmUtcGF5LWhpdHMtMS1iaWxsaW9=
uLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5=
XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlM=
jlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZX=
IuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZ=
jNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzM2NjU1fQ/55755fa205efd90316b02=
f1b9d18ded06edab67be098c5045fe464388f6b3009" =
style=3D"text-decoration:underline;color:#d40000;">tallies</a> the =
Hollywood C.E.O. gluttony =
index.<br/><em>and=E2=80=A6</em><br/><strong>Kim Masters</strong> <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaG=
FzLW5ldGZsaXgtZmluYWxseS1kcmFuay10aGUtdGhlYXRyaWNhbC1rb29sLWFpZC8_dXRtX2N=
hbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0=
bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5XHUwMDI2d=
XRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMD=
I2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTN=
kMzAxZDQ4ZDI4IiwibGlua19pZCI6MjczMzU5N30/b6f9bf30ede9cf844ae0581565ad07f4=
9ca950ceffc106d6922d405d37aed0e0" =
style=3D"text-decoration:underline;color:#d40000;">digs into</a> the =
<strong>Ted Sarandos</strong> rumor mill around Netflix=E2=80=99s =
theatrical thaw.<br/><em>meanwhile=E2=80=A6</em><br/><strong>Eriq
Gardner</strong> <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MveW=
VzLXRoZS1ibGFrZS1saXZlbHktanVzdGluLWJhbGRvbmktY2FzZS1oYXMtYS13aW5uZXIvP3V=
0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYlMjlcdTAw=
MjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyNiUyOVx1M=
DAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1=
x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDY=
xNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI3MzAxOTd9/4115d6a297dd0348c6f5332523e=
2cf75f60effc8fe2df63c258f7d6e524d4b16" =
style=3D"text-decoration:underline;color:#d40000;">sizes up</a> the =
<strong>Lively</strong>=E2=80=93<strong>Baldoni</strong> post-settlement =
scoreboard.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"A.I." =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1750192320993_tbs-ai_01JXZSEWH3DSYQ0QETB525GJR3.png" height=3D"auto" =
width=3D"48" align=3D"center" style=3D"display:
block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">A.I.
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;"><strong>Ian =
Krietzberg</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaX=
MtZWxvbi1naXZpbmctdXAtb24teGFpLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0x=
FQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSst=
K0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1M=
DAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMW=
Q0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzM=
1ODI1fQ/8171c559eea716003cc347045a92ae1db768f0de0256deeb296153c24d115b87"=
 style=3D"text-decoration:underline;color:#d40000;">deciphers</a> =
<strong>Elon Musk</strong>=E2=80=99s pivot from frontier models to =
becoming a compute landlord, and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdH=
J1bXBzLW15dGhvcy1wYW5pYy13aGl0ZS1ob3VzZS1waXZvdHMtb24tYWktcmVndWxhdGlvbi8=
_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1=
MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLm=
lvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjczMjUxOX0/235763d66b3b84ad6bb60f11=
fa42b22f0548c7a354bc97989f2a280107915f1e" =
style=3D"text-decoration:underline;color:#d40000;">reads the tea =
leaves</a> on the White House=E2=80=99s sudden A.I. preapproval =
flirtation.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"AIR MAIL" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1768606619722_tbs-airmail_01KF4JPP47AJT8AY4FY9FJ80CQ.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">AIR MAIL
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e: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>Hilary Rose
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9haXJtYWlsLm5ld3=
MvaXNzdWVzLzIwMjYtNS05L2hvdy1kby15b3Utc29sdmUtYS1wcm9ibGVtLWxpa2UtZmVyZ2l=
lP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYlMjlc=
dTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyNiUyO=
Vx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci=
5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM=
2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI3NDAzODZ9/74c19cb254c0e402fb7ee44=
d87c90d3d09ee8ff2cd2b67784666b15130927677" =
style=3D"text-decoration:underline;color:#d40000;">solves</a> the =
<strong>Fergie =
</strong>dilemma.<br/><em>and=E2=80=A6</em><br/><strong>Paul Goldberger =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9haXJtYWlsLm5ld3=
MvaXNzdWVzLzIwMjYtNS05L3RoZS12aWV3LWZyb20taGVyZT91dG1fY2FtcGFpZ249VGhlK0J=
hY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtY=
WlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNm=
M2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJ=
saW5rX2lkIjoyNzQwMzg3fQ/c1d39ee1d02c6c51340a7c1bccd9bd5245da6ef13d37f59c0=
a7797b905f0922b" =
style=3D"text-decoration:underline;color:#d40000;">assesses</a> =
<strong>Trump</strong>=E2=80=99s monument to =
himself.<br/><em>meanwhile=E2=80=A6</em><br/><strong>Michael Gross
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9haXJtYWlsLm5ld3=
MvaXNzdWVzLzIwMjYtNS05L3BpZWQtYS10ZXJyb3I_dXRtX2NhbXBhaWduPVRoZStCYWNrc3R=
vcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNr=
c3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY=
3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MT=
VlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19=
pZCI6Mjc0MDM4OH0/af371dd30df5c10cf5323540b3bbe1d9aa90c2629b159bc9656a71a4=
b006a0bc" =
style=3D"text-decoration:underline;color:#d40000;">calculates</a> the =
pied-=C3=A0-terre tax.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"MEDIA" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520869437_tbs-icon-media_01JAQQM82TC2CJD5T3P72A68MN.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">MEDIA
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;"><strong>Dylan =
Byers</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaW=
5zaWRlLWJ5cm9uLWFsbGVucy1iaXphcnJlLWJ1enpmZWVkLWJldC8_dXRtX2NhbXBhaWduPVR=
oZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50=
PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1b=
T1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm=
09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI=
4IiwibGlua19pZCI6MjczNDgxMn0/78a73576ea7941c94d216249db9041e3b5c033a9fa64=
75ad3e9e8f0d9802bf9e" =
style=3D"text-decoration:underline;color:#d40000;">interrogates</a> =
<strong>Byron Allen</strong>=E2=80=99s $20 million BuzzFeed gamble and =
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdG=
hlLW55dC1jaXZpbC13YXItb3Zlci1rcmlzdG9mcy1pc3JhZWwtZXhwb3NlLz91dG1fY2FtcGF=
pZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2Nv=
bnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fb=
WVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG=
1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDF=
kNDhkMjgiLCJsaW5rX2lkIjoyNzM5MzE0fQ/a54e92f615c5805924bd2003e791e4ed2a2af=
7c0d5d4bdc68cc261ce2b965fac" =
style=3D"text-decoration:underline;color:#d40000;">drops a mic</a> into =
the <em>New York Times</em> crying rooms.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"SPORTS" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870311_tbs-icon-sports_01JAQQM8Y3NF00D05WEX5CR80E.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">SPORTS
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e: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>John Ourand
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
h5LW5ldHdvcmstZXhlY3MtYXJlbnQtd29ycmllZC1hYm91dC1maWZhcy13b3JsZC1jdXAtcHI=
tbWVzcy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYy=
NiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyR=
jI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3=
RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI=
6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjczNjQzNX0/5f1486b993d00143=
480e7799d284323903dd6f55927aa69a9e0cf57bd6bca823" =
style=3D"text-decoration:underline;color:#d40000;">probes</a> =
FIFA=E2=80=99s World Cup P.R. =
nightmare.<br/><em>and=E2=80=A6</em><br/>Eriq <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
lsLWVuZm9yY2VtZW50LWZpZ2h0LXdpbGwtbXJycy1lc2NhcGUtb3ZlcnNpZ2h0Lz91dG1fY2F=
tcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRt=
X2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1d=
G1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMj=
Z1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2Q=
zMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzI5OTM5fQ/cbd68e0a516e1d102638e246651511503=
9a3b52d20a4c2cdbe804d75d4f258b5" =
style=3D"text-decoration:underline;color:#d40000;">previews</a> the =
N.I.L. private equity reckoning.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"WALL =
STREET" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870551_tbs-icon-wall-street_01JAQQM95KYVHSVTE1SADVAXTS.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">WALL STREET
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;"><strong>Bill Cohan
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvaX=
MtZWxvbi1hbHJlYWR5LWEtdHJpbGxpb25haXJlLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9=
yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tz=
dG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2Fjd=
Glvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNW=
UzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2l=
kIjoyNzM0NzYyfQ/ce7604ea4fd7ddbf5c7a918958f284bbcd1a152edaaed1f36321b63a4=
95e0b68" style=3D"text-decoration:underline;color:#d40000;">crunches the =
numbers</a> on Elon=E2=80=99s paper trillionaire status and <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
h5LWVkZW5zLXRvb2stbmV3LWZvcnRyZXNzLWVuZXJneXMtcmVzdHJ1Y3R1cmluZy10by1sb25=
kb24vP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYl=
MjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyN=
iUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b2=
1lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJ=
mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjI3Mjg3MDJ9/49f5fe733b92e2d1d75=
bc6e58841616a6adbb1b9c9ca11265246a65cee413aa7" =
style=3D"text-decoration:underline;color:#d40000;">spotlights</a> =
<strong>Wes Edens</strong>=E2=80=99 London restructuring =
workaround.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-left:24px;padding-right:24px;padding-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"WASHINGTON" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520870794_tbs-icon-washington_01JAQQM9D691XMPJRQ226EDXSM.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">WASHINGTON
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:16px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e: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>Peter =
Hamby</strong>
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc3=
BlbmNlci1wcmF0dHMtcmVhbGl0eS10di10YWN0aWNzLWFyZS1jbGlja2luZy13aXRoLXZvdGV=
ycy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUy=
OVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2J=
TI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbW=
VyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY=
2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjczNjQ4MH0/c8e3acc894e3a578831d=
81042fa499c6d2a893c7a20e38ffbe22da0f94af391d" =
style=3D"text-decoration:underline;color:#d40000;">profiles</a> =
<strong>Spencer Pratt</strong>=E2=80=99s improbable L.A. mayoral =
surge.<br/><em>and=E2=80=A6</em><br/><strong>Leigh Ann Caldwell =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvdG=
hlLW5lYnJhc2thLXJlcHVibGljYW4tc3dlYXRpbmctb3V0LXRydW1wcy10YXJpZmZzLz91dG1=
fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2=
dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwM=
jZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdT=
AwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTV=
lM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzM0ODkwfQ/e28d6c17cd12319124e69b39d1767=
c109cac342d1873daf504c052cb865cbdbe" =
style=3D"text-decoration:underline;color:#d40000;">sits down</a> for a =
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdHMvdGhlLXBvd2Vycy10aGF0LWJlLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSs=
tK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9y=
eSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvb=
lx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZD=
MwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo=
2MTc1MTd9/024836d49adb7480e47eb3ac1a9646980347cb378d5afe3fec729b0d2821c4d=
2" style=3D"text-decoration:
underline;color:#d40000;">conversation</a> with Rep. <strong>Adrian =
Smith</strong> for our latest Puck Power Breakfast, presented by the =
American Chemistry =
Council.<br/><em>meanwhile=E2=80=A6</em><br/><strong>Marianna Sotomayor =
</strong><a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvY2=
FuLWhha2VlbS1qZWZmcmllcy1zYXZlLXRoZS1jb25ncmVzc2lvbmFsLWJsYWNrLWNhdWN1cy8=
_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1=
MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5X=
HUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLm=
lvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzY=
wNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6Mjc0MDAzNn0/e22c46a73139fbe13e462d6c=
6407b841a4dfb2b0c8e15a672ea790d9977b08b6" =
style=3D"text-decoration:underline;color:#d40000;">chronicles</a> a =
House Democratic strategy sesh.</p></div>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table align=3D"center" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td>
<table class=3D"c i" align=3D"center" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;background-color:#ffff=
ff;border-radius:0;color:#000000;width:600px;margin:0 auto;" =
width=3D"600"><tbody><tr><td class=3D"y o" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;font-weight:400;text-a=
lign:left;vertical-align:top;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"q8" =
style=3D"padding-bottom:16px;padding-left:24px;padding-right:24px;padding=
-top:32px;">
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:16px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"100%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:1px solid #000;"><span =
style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</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;text-align:left;line-h=
eight:0;"><tbody><tr><td class=3D"r" =
style=3D"vertical-align:middle;color:#000;font-family:'PuckSerifDisplay',=
'Georgia';font-size:20px;font-weight:700;" align=3D"left">
<table class=3D"b" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;display:inline-block;p=
adding-left:0px;padding-right:0px;" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation"><tbody><tr><td =
style=3D"vertical-align:middle;text-align:center;padding-top:0px;padding-=
bottom:0px;padding-left:0px;padding-right:12px;"><img alt=3D"PODCASTS" =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/1729520869698_tbs-icon-podcasts_01JAQQM8AY9NH956YXMPQWX3NY.png" =
height=3D"auto" width=3D"48" align=3D"center" =
style=3D"display:block;height:auto;margin:0 auto;border:0;"/>
</td><td =
style=3D"font-family:'PuckSerifDisplay','Georgia';font-size:20px;font-wei=
ght:700;color:#000;vertical-align:middle;letter-spacing:normal;text-align=
:left;line-height:normal;">PODCASTS
</td></tr></tbody></table>
</td></tr></tbody></table>
<table class=3D"p" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" =
style=3D"padding-top:16px;padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;">Dylan, John, and =
CNBC=E2=80=99s <strong>Alex Sherman</strong> break down the NFL
rights standoff between legacy networks and streamers on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL2ZyaWRheS1uaWdodC1yaWdodHMvP3V0bV9jYW1wYWlnbj1UaGUrQmF=
ja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUr=
QmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1ha=
WxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2Yz=
YwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImx=
pbmtfaWQiOjI3MzQzMjR9/2eb53b2a568067f4d77cb2020c69128b60432550d06cea0b2c4=
d51d40ed81033" =
style=3D"text-decoration:underline;color:#d40000;"><em>The Grill =
Room</em></a>.<br/><em>and=E2=80=A6</em><br/>Ourand and investor =
<strong>Jason Stein</strong> predict the private equity =
industry=E2=80=99s next foray into sports on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdHMvdGhlLXZhcnNpdHkvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFM=
rJTI4NSUyRjE2JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVB=
RFMrJTI4NSUyRjklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2d=
XRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZD=
I4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjEwMTcxNzZ=
9/593ff438569332b0417c785a37b5b94a341f44b4253f89defe2dbdd8bd7ab123" =
style=3D"text-decoration:underline;color:#d40000;"><em>The =
Varsity</em></a>.<br/><em>and=E2=80=A6</em><br/>Lauren and
<strong>Sophia Rivka Rossi</strong> philosophize about <strong>Hailey =
Bieber</strong>=E2=80=99s Ala=C3=AFa moment and Ozempic in France on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL3Jhdy1kZW5pbS12cy1yYXctbWlsay8_dXRtX2NhbXBhaWduPVRoZSt=
CYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRo=
ZStCYWNrc3RvcnkrLStMRUFEUyslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lb=
WFpbF9hY3Rpb25cdTAwMjZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09Zj=
ZjNjA2MTVlM2QzMDFkNDhkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4Iiw=
ibGlua19pZCI6MjczMjEyNX0/d5e119cf0d7d22d85ab543b137c7cbf58ecb5504eb1b60a3=
b19cc72fa1cf65e5" =
style=3D"text-decoration:underline;color:#d40000;"><em>Fashion =
People</em></a>.<br/><em>and=E2=80=A6</em><br/><strong>John =
Heilemann</strong> and CFR president <strong>Michael Froman</strong> =
trade notes on the Trump-<strong>Xi</strong> summit and the Ukraine =
pivot on
<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL21pY2hhZWwtZnJvbWFuLWxvdmUtdGFwcy1pbi1pcmFuLXN1bW1pdHJ=
5LWluLWJlaWppbmctc2NoaXpvcGhyZW5pYS1pbi11a3JhaW5lLz91dG1fY2FtcGFpZ249VGhl=
K0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9V=
GhlK0JhY2tzdG9yeSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPW=
VtYWlsX2FjdGlvblx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1=
mNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgi=
LCJsaW5rX2lkIjoyNzMyMTI0fQ/2dd95a4f16a7187c7b8bcd4d7fbd81946dcef89c37fd1b=
8ac96b4ac0e714f318" =
style=3D"text-decoration:underline;color:#d40000;"><em>Impolitic</em></a>=
.<br/><em>and=E2=80=A6</em><br/>Matt chats live with legendary =
writer-producer <strong>David E. Kelley</strong> about the craft of TV =
on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdF9lcGlzb2RlL3doYXQtbWFrZXMtZ29vZC10di13cml0ZXJzLWFuZC1leGVjcy13aXR=
oLWRhdmlkLWUta2VsbGV5Lz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSstK0xFQURTKyUy=
ODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9yeSstK0xFQURTK=
yUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvblx1MDAyNnV0bV=
9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZDMwMWQ0OGQyOCI=
sImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjoyNzM1NjU3fQ/e=
dd629b074b450d7629dc728ff182efdc8ceda3742c1df46e230f37157da6b6e" =
style=3D"text-decoration:underline;color:#d40000;"><em>The
Town</em></a>.<br/><em>and=E2=80=A6</em><br/>Peter rings up Matt to =
handicap <em>The Mandalorian and Grogu</em> and Hollywood=E2=80=99s =
Cannes ghosting on <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3MvcG=
9kY2FzdHMvdGhlLXBvd2Vycy10aGF0LWJlLz91dG1fY2FtcGFpZ249VGhlK0JhY2tzdG9yeSs=
tK0xFQURTKyUyODUlMkYxNiUyRjI2JTI5XHUwMDI2dXRtX2NvbnRlbnQ9VGhlK0JhY2tzdG9y=
eSstK0xFQURTKyUyODUlMkY5JTJGMjYlMjlcdTAwMjZ1dG1fbWVkaXVtPWVtYWlsX2FjdGlvb=
lx1MDAyNnV0bV9zb3VyY2U9Y3VzdG9tZXIuaW9cdTAwMjZ1dG1fdGVybT1mNmM2MDYxNWUzZD=
MwMWQ0OGQyOCIsImludGVybmFsIjoiZjZjNjA2MTVlM2QzMDFkNDhkMjgiLCJsaW5rX2lkIjo=
2MTc1MTd9/024836d49adb7480e47eb3ac1a9646980347cb378d5afe3fec729b0d2821c4d=
2" style=3D"text-decoration:underline;color:#d40000;"><em>The Powers =
That Be</em></a>.<br/><br/><em>As a reminder, you can update your =
profile at any time to get more stories like these directly in your =
inbox.</em> <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvP3V0bV9jYW1wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE=
2JTJGMjYlMjlcdTAwMjZ1dG1fY29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUy=
RjklMkYyNiUyOVx1MDAyNnV0bV9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZ=
T1jdXN0b21lci5pb1x1MDAyNnV0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZX=
JuYWwiOiJmNmM2MDYxNWUzZDMwMWQ0OGQyOCIsImxpbmtfaWQiOjE1Nn0/f8812262732f552=
68a477dc90774025e47b6b40fbd1dab6aef0ba7e477c23ab0" =
style=3D"text-decoration:underline;color:#d40000;"><em>Click
here</em></a><em> to customize your email settings.</em></p></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"padding-bottom:32px;" align=3D"center">
<table border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" width=3D"30%" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:2px solid =
#d40000;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" =
style=3D"width:100%;padding-bottom:32px;padding-left:24px;padding-right:2=
4px;" align=3D"center"><h3 =
style=3D"margin:0;color:#000000;direction:ltr;font-family:'PuckSerifDispl=
ay','Georgia';font-size:24px;font-weight:400;letter-spacing:normal;line-h=
eight:1.2;text-align:center;margin-top:0;margin-bottom:0;mso-line-height-=
alt:29px;">A Tale of Two Rothkos</h3>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;">Last week, my partner =
<strong>Marion Maneker </strong>briefly took some time away from his =
busy
reporting schedule to cameo as a barista on Puck=E2=80=99s traveling =
Airstream, which rolled around Manhattan from TEFAF to Sotheby=E2=80=99s =
to Christie=E2=80=99s for the all-important May art sales. The art =
market, which Marion chronicles in his excellent newsletter, Wall Power =
(<a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvbm=
V3c2xldHRlcnMvd2FsbC1wb3dlci8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUF=
EUyslMjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStM=
RUFEUyslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwM=
jZ1dG1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkND=
hkMjgiLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6ODQ0NjI=
0fQ/a6d24483981597062f0e734fbb3f17f8920ef3fbd17554c91ab47ef7f80ba8bc" =
style=3D"text-decoration:underline;color:#d40000;">sign up here</a>), is =
one of Puck=E2=80=99s most important domains. And this seemed like a fun =
and off-kilter way to tip our hat to the market and
get in on the action.</p></div>
</td></tr></tbody></table>
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"width:100%;padding-bottom:32px;" =
align=3D"center"><div style=3D"max-width:552px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/01KRPZEKX90CMY9YE2T8A2QWG6.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"" title=3D"" height=3D"auto"/></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;">Not only are we proud =
of the inroads we=E2=80=99ve made in the industry, but it also serves as =
a nexus for
so many of our power corners. To wit: This year=E2=80=99s auction =
calendar is chockablock with collections ranging from the media-baron =
<strong>Newhouses</strong> to <strong>Robert Mnuchin</strong>, who =
originally made his coin in banking before becoming an important dealer. =
(His son, as you know, is <strong>Steve Mnuchin</strong>=E2=80=94a =
fellow Goldman alum who went on to dabble in the entertainment industry =
before becoming the Treasury secretary during <strong>Trump =
</strong>I.)<br/><br/>In
many ways, the art world is also a proxy for various echelons of our =
economy. The market collapsed during Covid, roared in its easy-money =
aftermath, and then cooled again. But sales have been regaining strength =
in the middle of the market=E2=80=94and, as Marion has diligently noted, =
an unbridled enthusiasm has begun to take hold near the top. After all, =
Christie=E2=80=99s has $1.08 billion in presale estimates this season. =
Sotheby=E2=80=99s has about $665 million. =E2=80=9CAs a very seasoned =
collector told me outside TEFAF,
the time to buy was last year, when confidence (and competition) were =
low,=E2=80=9D Marion noted this week in his phenomenal piece, <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvd2=
hhdC1zb3RoZWJ5cy1mb3VyLWh1bmRyZWQtdGhpcnR5LXRocmVlLW1pbGxpb24tZG9sbGFyLW5=
pZ2h0LXJlYWxseS1tZWFucy8_dXRtX2NhbXBhaWduPVRoZStCYWNrc3RvcnkrLStMRUFEUysl=
Mjg1JTJGMTYlMkYyNiUyOVx1MDAyNnV0bV9jb250ZW50PVRoZStCYWNrc3RvcnkrLStMRUFEU=
yslMjg1JTJGOSUyRjI2JTI5XHUwMDI2dXRtX21lZGl1bT1lbWFpbF9hY3Rpb25cdTAwMjZ1dG=
1fc291cmNlPWN1c3RvbWVyLmlvXHUwMDI2dXRtX3Rlcm09ZjZjNjA2MTVlM2QzMDFkNDhkMjg=
iLCJpbnRlcm5hbCI6ImY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwibGlua19pZCI6MjczNzQwNH0/=
882af03e4ef627a83c6626cc507ec918972d4c818f8c45c6e41610fb766ba5ea" =
style=3D"text-decoration:underline;color:#d40000;"><em>Sotheby=E2=80=99s =
$433 Million Pep Talk</em></a>. =E2=80=9CHe said the market was overly =
pessimistic at the time=E2=80=94and, perhaps, a little too optimistic =
this season.=E2=80=9D</p></div>
</td></tr></tbody></table>
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"width:100%;padding-bottom:32px;" =
align=3D"center"><div style=3D"max-width:552px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/01KRPZEM21Q4EMES6V7K0J2Y7E.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"" title=3D"" height=3D"auto"/></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;">Of course, timing =
market cycles is almost impossible. But that hasn=E2=80=99t stopped the =
houses from
trying. Indeed, Marion=E2=80=99s brilliant accompanying piece, <a =
href=3D"https://email.puck.news/e/c/eyJlbWFpbF9pZCI6ImRnVDJ4Z1lEQU5TTktOT=
05LQUdlTU5fckhFc3NlWHNKWEFsMnlvVT0iLCJocmVmIjoiaHR0cHM6Ly9wdWNrLm5ld3Mvc2=
90aGVieXMtYW5kLWNocmlzdGllcy1tYXktMjAyNi1hdWN0aW9uLXByZXZpZXcvP3V0bV9jYW1=
wYWlnbj1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjE2JTJGMjYlMjlcdTAwMjZ1dG1f=
Y29udGVudD1UaGUrQmFja3N0b3J5Ky0rTEVBRFMrJTI4NSUyRjklMkYyNiUyOVx1MDAyNnV0b=
V9tZWRpdW09ZW1haWxfYWN0aW9uXHUwMDI2dXRtX3NvdXJjZT1jdXN0b21lci5pb1x1MDAyNn=
V0bV90ZXJtPWY2YzYwNjE1ZTNkMzAxZDQ4ZDI4IiwiaW50ZXJuYWwiOiJmNmM2MDYxNWUzZDM=
wMWQ0OGQyOCIsImxpbmtfaWQiOjI3MzQ0OTR9/c2aadafdde513773c078f0391c926af8bbc=
864811e5f63802c3b5fabddf93012" =
style=3D"text-decoration:underline;color:#d40000;"><em>Seven Days in =
May</em></a>, offers an even broader look into the economy through the =
prism of the art world, which may be best encapsulated by a bizarre =
micro-battle over a pair of <strong>Rothkos</strong>. As Marion put it, =
=E2=80=9CTwo major Rothkos on offer illustrate the dynamic between the =
two houses better than
anything. Christie=E2=80=99s was the first to secure <strong>Agnes =
Gund</strong>=E2=80=99s consignment, a moody blue-and-green painting =
with a strong red stripe, estimated at a powerful $80 million. With fees =
it would be the most expensive Rothko sold at auction, and =
Christie=E2=80=99s was taking no chances with its =
presentation.=E2=80=9D<br/><br/>He continued: =E2=80=9COver the weekend, =
an advisor shared with me a photograph of the wall where =
Christie=E2=80=99s had hung the painting=E2=80=94except the painting had =
been removed. In its place was only
the effect of the lights that auction houses use to enhance artworks on =
view. Christie=E2=80=99s had gone the extra mile by adding a second =
light with more lumens to make the red stripe at the bottom of the art =
work positively vibrate off the canvas. For much of the past few months, =
there=E2=80=99s been talk in the market that Christie=E2=80=99s was =
having trouble finding a backer for the Gund Rothko at such a lofty =
price. Now, according to Christie=E2=80=99s website, it has. And the =
final price will almost certainly be
affected by the sale of Mnuchin=E2=80=99s red Rothko at =
Sotheby=E2=80=99s, which may appeal to a broader range of plutocrats at =
a lower price point of $70 million. If the Mnuchin work sparks a bidding =
war, it could easily reprice the Gund Rothko.=E2=80=9D</p></div>
</td></tr></tbody></table>
<table class=3D"j" width=3D"100%" border=3D"0" cellpadding=3D"0" =
cellspacing=3D"0" role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
class=3D"r" style=3D"width:100%;padding-bottom:32px;" =
align=3D"center"><div style=3D"max-width:552px;"><img =
src=3D"https://userimg-assets.customeriomail.com/images/client-env-107382=
/01KRPZEM9K0FHKQCM8QTMG7V9S.jpg" =
style=3D"display:block;height:auto;border:0;width:100%;" width=3D"552" =
alt=3D"" title=3D"" height=3D"auto"/></div>
</td></tr></tbody></table>
<table width=3D"100%" border=3D"0" cellpadding=3D"0" cellspacing=3D"0" =
role=3D"presentation" =
style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;word-break:break-word;=
"><tbody><tr><td class=3D"r" style=3D"padding-bottom:32px;"><div =
style=3D"color:#000000;direction:ltr;font-family:'Inter','Arial';font-siz=
e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p style=3D"margin:0;">And finally: =
=E2=80=9CChristie=E2=80=99s may worry that the Sotheby=E2=80=99s sale =
will deprive it of one bidder for a
major Rothko and thereby diminish the chances of a pitched battle. (You =
would be naive to imagine that the Mnuchin Rothko is preceding the Gund =
Rothko to the auction block by happenstance=E2=80=A6) But two determined =
bidders are all it takes to launch such a battle. And if two buyers go =
at the first Rothko with hammer and tongs, driving it to a price in the =
nine-figure range, the received wisdom is that more bidders would be =
pulled in for the Gund Rothko the following week.=E2=80=9D<br/><br/>In =
the end, the first
Rothko had a hammer price of $74 million, which netted out to about $86 =
million with fees. This price is going to reverberate next week and =
through the rest of the buying season=E2=80=94an indication of the =
quantums of dry powder that exist in our economy, unworried about war in =
Iran or domestic gas prices. (You don=E2=80=99t always need to roll =
around in an Airstream to gauge such sentiment, but it helps=E2=80=A6) =
It=E2=80=99s a unique insight into how the upper echelons of our economy =
really operate, and the sort of
delightful observation that you can only devour at Puck.</p></div>
</td></tr></tbody></table>
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style=3D"mso-table-lspace:0pt;mso-table-rspace:0pt;"><tbody><tr><td =
style=3D"font-size:1px;line-height:1px;border-top:2px solid =
#d40000;"><span style=3D"word-break:break-word;">=E2=80=8A</span>
</td></tr></tbody></table>
</td></tr></tbody></table>
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e:17px;font-weight:400;letter-spacing:0px;line-height:1.5;text-align:left=
;mso-line-height-alt:26px;"><p =
style=3D"margin:0;margin-bottom:0px;">Have a great weekend,</p><p =
style=3D"margin:0;">Jon</p></div>
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