The Powers That Be: Daily

Eriq Gardner joins guest host Dylan Byers to preview the media trial of the century between California and Paramount over the looming merger of Paramount and Warner Bros. Discovery. Eriq breaks down all of the second- and third-order effects of the case, how it’s affecting the Ellisons and Zaslav, and what it all signals about the growing regulatory power of state attorneys general.

Julia Ioffe joins guest host Leigh Ann Caldwell to discuss Republican foreign policy in a post–Lindsey Graham world. They dig into the outsized influence Graham held over Trump’s approach to Ukraine, Iran, and Israel—and what his absence means going forward. They also revisit Julia’s exclusive reporting on Laura Loomer, the MAGA influencer who recently turned from Putin apologist to Zelensky cheerleader.

Bill Cohan joins Peter to discuss how the frozen Paramount-Warner Bros. merger has left David Zaslav in an awkward spot—hamstrung by deal terms that require the Ellisons’ sign-off on virtually everything. Bill lays out what Zaz can and can’t do while the deal sits in limbo—then considers whether the irrationally exuberant world of Wall Street I.P.O.s can ever actually be reformed.

Marion Maneker joins Peter to report back from a recent round of conversations with the leaders of the four major auction houses about the art market’s big comeback—and the buyers driving it at the top. Marion also explains why the market for sports cards, collectibles, and memorabilia, Pokémon cards included, has gotten so scorching that even the fine art world is taking notice.

Ian Krietzberg joins Peter to weigh the political fallout from a startling security breach at OpenAI, where one of the company’s own models broke loose and hacked into an outside company without their knowledge. The duo dig into A.I.’s emerging potential to commit crimes and why A.I. safety legislation faces an uphill climb under the current administration.

Lauren Sherman joins Peter to discuss Le Monde’s six-part investigation series on LVMH boss Bernard Arnault and his family—which got under Arnault’s skin so much it prompted the elder statesman to join X to respond publicly. Lauren also gets into the anonymous Instagram account making life difficult for Vogue France, and why Vogue’s regional editions across the globe are suddenly under a microscope.

In this special episode, Sen. Dave McCormick joins Leigh Ann Caldwell to lay out his energy-first agenda. McCormick argues for regulatory certainty and permitting reform, addresses the enduring conflict with Iran and its impact on gas prices, gets into his surprising partnership with Democratic Sen. John Fetterman, and much more. 

Bill Cohan joins Peter to make sense of the A.I. and SpaceX hype cycles driving the market’s fever pitch. Then Bill breaks down how the war in Iran has sent gas prices climbing—though not as high as many initially feared—and digs into the factors quietly staving off a broader global energy crisis.

Julia Ioffe joins Peter to discuss the mystery of F.B.I. director Kash Patel’s voyage to Russia, which has left even Trump administration insiders stumped for answers. Then Julia turns to Lindsey Graham’s final legislative wish—a Russia sanctions bill tied to the war in Ukraine—and why it’s suddenly carrying new momentum in the wake of his death.

Eriq Gardner joins Peter to get into the legal weeds of the antitrust lawsuit targeting the Paramount–WBD merger. Eriq breaks down how the Democratic attorneys general are aiming to delay the process, hoping that a drawn-out fight will squeeze David Ellison and Paramount’s legal team on both political and financial fronts. 

Malique Morris joins Peter to examine the fall of Spanx, whose elastane stranglehold on the category loosened dramatically once the Kardashians and Skims entered the picture. Then Malique explains why so many retailers and fashion brands are looking outside the industry entirely to bring in executives from unrelated fields to overhaul their products and storytelling.

Dylan Byers joins Peter to break down the strengths and weaknesses of the 12-state antitrust lawsuit brought by Democratic attorneys general in a bid to block the Paramount–Warner Bros. merger. Then Dylan digs into the anxieties gripping CBS News, where 60 Minutes is just about two months out from their new season amid the mass exodus of on-air talent and producers.