In pot, bring water, bay leaves, peppercorns, mustard seeds and kosher salt to boil. Stir until salt is dissolved. Cool to room temperature.
Pour brine into 5-gallon stock pot or container. Pour in wine, then add one shallot, garlic, thyme (reserving some for stuffing turkey) and 1 cup cranberries. Slowly lower in turkey.
Pour ice water into pot to cover turkey. Place lid on pot and refrigerate at least 24 hours.
Heat oven to 500 degrees. Remove turkey from brine, pat dry and stuff with reserved shallot, thyme and cranberries. Place turkey in roasting pan. Generously massage olive oil into skin of turkey. Sprinkle with salt and pepper, to taste.
Use kitchen twine to tie legs together so turkey will keep its shape. Roast for 20 minutes. Lightly brush skin again with olive oil, reduce heat to 350 degrees and roast until internal temperature reaches 155-160 degrees on meat thermometer.
Allow turkey to rest, loosely covered with foil, 30 minutes before carving.