The Presidential Daily Brief

Comcast Outbids Disney With $65 Billion Offer for Fox

Top that. The global telecommunications giant has offered $65 billion to buy much of 21st Century Fox’s entertainment and international assets, beating out Disney’s previous bid of $52 billion. Observers believe the move — which comes a day after a federal court approved a merger of AT&T and Time Warner — will likely trigger a bidding war between the two media entities. Both cases illustrate the broader attempt by major telecoms and cable companies to gain a foothold against tech powerhouses like Netflix and Google.

Questions Remain About Substance of Trump-Kim Agreement

“[Kim] wants to do the right thing.” That was President Donald Trump’s analysis of his short summit yesterday with Kim Jong Un — an unprecedented meeting. But while the two signed a statement committing to work toward North Korea’s denuclearization, Pyongyang has made the same pledge several times, and the U.S. set no timeline or goals for the process. Meanwhile, Trump promised to end U.S.-South Korean joint military drills, which former CIA Deputy Director John McLaughlin told OZY is an “absolutely stunning giveaway of U.S. leverage with no price asked.”

Saudi-Backed Forces Attack Port City in Yemen

After Iranian-aligned Houthi rebels missed a midnight deadline to withdraw from the city of Hodeida, government troops — backed by both Saudi Arabia and the UAE — began shelling from air and sea. The 3-year-old civil war has already killed at least 10,000 people and left millions displaced, starving, and at the mercy of a cholera epidemic. Hodeida serves as the main entry for humanitarian aid, on which 22 million people depend, and aid agencies warn that further shelling in the city could deepen the country’s crisis.

Far-Right GOP Candidate Courts Controversy in Virginia

Corey Stewart, who rose to prominence defending Confederate monuments, associating with white nationalists and railing against undocumented immigrants, secured the Republican nomination for the Senate on Tuesday ahead of midterms later this year. He’ll face off against Hillary Clinton’s vice presidential candidate, Sen. Tim Kaine, who’s expected to win re-election. Stewart, who told OZY last year that he “was Trump before Trump was Trump,” has attracted many of the president’s supporters — but his nomination has some mainstream Republicans worried that he’ll taint downticket races for many voters.

AT&T Wins Court Approval to Acquire Time Warner

It was only a matter of time. A federal judge has ruled the multinational telecommunications conglomerate can move forward with its $80 billion acquisition of Time Warner Inc., a decision that could open the door for other pay-TV companies to buy content producers. District Judge Richard Leon rejected the Justice Department’s argument that the merger gives AT&T unfair leverage, upending President Trump’s campaign promise to block it. The deal is expected to go forward June 21 unless federal authorities request a stay — which Leon said would be “manifestly unjust.”

Primaries, Taxes and a Brave Raccoon

Know This: South Carolina Republican Mark Sanford lost his primary race yesterday after a last-minute attack from President Trump, who called him “nothing but trouble.” Seattle has repealed a per-employee tax on big companies that the city had hoped would fund low-income housing and aid for the homeless. The co-founder of Guess is stepping down after multiple people alleged that he’d improperly kissed and groped them. And today, OZY’s Around the World campaign takes you to Finland: Check out this Finnish startup that’s creating protein using only electricity and air.

Watch This: Yesterday, Minnesotans (and the internet at large) were captivated by an intrepid raccoon who was filmed free-climbing a 25-story building in St. Paul. As of last night, the raccoon had begun to climb down, while animal control debated how best to bring it to safety.

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