Wall Street is more worried about Zohran than it is about war with Iran. Just saying puck.news/wall-street-...

Is Warner Bros. Discovery setting a new precedent on Wall Street? puck.news/is-wbds-debt...

Imagining the nightmare scenario for Shari Redstone if her deal to sell Paramount Global does not close by October. It ain't pretty... puck.news/the-paramoun...

What does Shari Redstone do if her deal to recapitalize Paramount Global doesn't close in October? puck.news/what-happens...

Why did S&P Global downgrade the debt of Warner Bros. Discovery, instead of upgrading it? That's what I would like to know... puck.news/sp-isnt-buyi...

Hype Man: Marc Metrick's Saks is a cluttered closet full of discounts open.substack.com/pub/thedig/p... Thanks to @williamdcohan.bsky.social for sharing the prospectus with multiple sets of audited financials and auditors' opinions and some really wild-a$$ pro formas. #DeloitteToronto #EYDallas

Partnerships of all stripes are going to get walloped by the Big Beautiful Tax bill unless the Senate takes action puck.news/new-salt-rul...

Ugh, SPACs are back, sort of. Buyer beware! puck.news/spacs-are-ba...

Will things get worse before they get better at Saks Global? My latest analysis. puck.news/new-problems...

It sure looks like Saks Global is heading toward a major debt restructuring now that both the company and its major creditors have hired bigtime legal and financial advisers. puck.news/is-saks-glob...

Has WarnerBros. Discovery finally turned the corner after first quarter earnings plus the success of Minecraft and Sinners? My latest... puck.news/zaslav-pushe...

Former Apollo executive Leon Black faces another misconduct allegation—this time it’s an increasingly surreal case involving a client who’s been dropped by her lawyers and is now at war with their firm… @williamdcohan.bsky.social has details:

Lazard C.E.O. Peter Orszag on whether Trump’s tariffs can actually work, America’s role as world leader, and the current market volatility. Read his conversation with Puck’s @williamdcohan.bsky.social

Since Saks acquired Neiman Marcus Group for $2.7B, Wall Street has been trying to figure out why the deal got done in the first place. @williamdcohan.bsky.social's deep dive into the 400-page bond prospectus reveals some creative accounting:

In an increasingly nasty proxy battle, Paul Singer’s hedge fund, Elliott Management, is agitating for board seats at Big Oil’s Phillips 66, whose C.E.O. has chosen to dig in and fight. @williamdcohan.bsky.social has the story:

There's one proxy fight worth watching this proxy season and pits Big Hedge Fund against Big Oil and boy is it a doozy! puck.news/paul-singer-...

We all know now how crazy the Saks-Neiman Marcus merger was, last December. Now I can reveal what the companies did to raise the $2.2 billion in junk financing, and it ain't pretty. puck.news/saks-bond-a-...

Ever wonder how the European business community is grappling with the Trump Tariff mishegas? So did I. My conversation, in Paris, with two of the leaders of Lazard. puck.news/lazard-ceo-p...

Is the Saks/Neiman Marcus deal already in trouble, just four months after closing? It sure looks that way. I explain all here.

What a pleasant surprise! @LHSummers with the guts to keep speaking Truth to Power. He tells it like it is to me during this recent interview. Massive praise to him. puck.news/best-compari...

The high-stakes roll-up of Saks and Neiman Marcus is straining under the weight of its junk-bond financing—and fast becoming a cautionary tale. From @williamdcohan.bsky.social puck.news/can-the-saks...

Is @saks going down the tubes? Or does it just seem that way because its bonds are yielding 20%? My thoughts. puck.news/can-the-saks...

The @NEWSMAX IPO was one for the ages, a rollercoaster ride without precedent. What the heck happened and why did @ChrisRuddyNMX's wealth get as high as $9.2 billion before crashing out? puck.news/newsmaxs-apr...

It's the bond market, stupid, and always has been puck.news/trump-slips-...