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.

Marianna Sotomayor joins guest host Leigh Ann Caldwell to dig into the week’s big primaries, with a focus on how Abdul El-Sayed’s surprising win over Haley Stevens could help reunite a fractured Democratic Party. They break down El-Sayed’s appeal to younger voters and the biggest challenges awaiting him in November’s general. They also examine Speaker Mike Johnson’s hands-off approach to members with troubled histories like Reps. Max Miller and Cory Mills—and how Johnson’s handling of scandals differs from that of past speakers like Paul Ryan and John Boehner.

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.

Jon Kelly and Peter weigh in on the potential fallout from delaying the WarnerMount merger, as Gov. Gavin Newsom raises concerns about what blocking the deal could mean for Hollywood jobs and the state economy. Then the duo chew over ESPN’s recent town hall, where new executive Mike Foss urged talent to “embrace authenticity” and adopt digital trends while keeping their combative on-air personalities front and center.

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.

Marianna Sotomayor joins Peter for a close look at two Senate races giving both parties heartburn this midterm season: South Carolina and Michigan. In South Carolina, Darline Graham—Lindsey Graham’s sister, running with a Trump endorsement despite a thin political résumé—has scrambled the picture. Meanwhile in Michigan, Democrats worry they could squander a winnable seat in a critical battleground if Abdul El-Sayed, the insurgent progressive backed by Bernie Sanders, wins the competitive primary.

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.

Besties Jon Kelly and Peter reunite to discuss the power players in media, politics, and private equity who quietly helped bring LeBron to Philadelphia. Then they turn to the ESPN layoffs and make the case that the future of sports belongs to formats like the Manningcast and personalities like McAfee, not the traditional studio-reporter model. They also break down Netflix’s most recent engagement report and pick apart what’s working for the streamer—and what isn’t.