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Jun 12, 2016

DealBook P.M. Edition on June 10, 2016: Top Story: Gawker, Filiing for Bankrupcy After Hulk Suit, Is Said to Be for Sale.

 
Friday, June 10, 2016
TOP STORY
Nick Denton, the founder of Gawker Media, in March after a jury awarded Hulk Hogan $115 million in damages in a lawsuit against the company.
Gawker, Filing for Bankruptcy After Hulk Hogan Suit, Is Said to Be for Sale The company's decision to sell itself came just weeks after it was revealed that the Silicon Valley billionaire Peter Thiel financially supported Mr. Hogan's lawsuit.

  • NYT »
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    DEALBOOK HIGHLIGHTS
    Guy Hands with his wife ,Julia, in 2010. He said he lost $227 million after Citi executives induced him to buy EMI.
    Guy Hands Abandons Legal Battle With Citigroup Over EMI The financier had accused several senior executives of making misrepresentations ahead of an auction for the storied music label in May 2007.
    Line characters at the company's headquarters in Tokyo.
    Line, Japanese Messaging App, Plans Summer I.P.O. Share sales in New York and Tokyo could value Line at more than $5 billion, which would make it the biggest market debut for a technology company so far this year.
    Gretchen Morgenson: Woes for ITT, a For-Profit School, Bode Worse for Its Students How bad will it be for students if ITT Educational Services, the troubled for-profit school, fails? Ask the former students of a company called Wilfred.
    Fred Schindler used his reverse mortgage to pay off the last bit of his original mortgage on his condo and to open a line of credit.
    Ron Lieber: Getting a Reverse Mortgage, but Not From a Celebrity Some community bankers are lending respectability to the often-maligned reverse mortgage.
    The Certified Financial Planner Board of Standards hired Azmyth Kaminski, a D.J., and cut off his dreadlocks, removed his body piercings and put him in a suit. He learned a few financial phrases and sat in a conference room. Then the board brought in couples looking for a financial adviser.
    Paul Sullivan: Deciding if a Financial Adviser Is Right for the Job As financial advising becomes a popular second career, potential clients must be diligent in determining whether an adviser is qualified for the job.
    An Aker Solutions' drilling rig in transit in the Suez canal in 2008.
    Adapting to Modest Oil Prices, BP Spins Off Norway Business Into New Venture The deal, creating a company called Aker BP, could allow BP to slim down while keeping a role in Norway, a major fuel-producing nation.
    Breakingviews: Dispute Over Paramount Pictures Is a Red Flag for Any Buyer Abrupt changes to Viacom's bylaws directly related to the auction of Paramount underscore how acrimonious the drama has become.
    Buzz Tracker
    New LendingClub Mistake Shows Loan-Demand Issues Persist The online lender has downwardly revised a recent spike in weekly loan sales to investors.
    Phil Mickelson's Gambling Linked to Second Criminal Case Gregory Silveira, who was also fined $18,000, had pleaded guilty to money laundering for transferring $2.75 million between bank accounts in 2010 for an unidentified client to promote an illegal gambling operation. Mr. Mickelson was the gambler, according to people familiar with the matter.
    No Thanks: Citigroup Sues AT&T for Trademark Infringement Citigroup saying the phone company's use of "thanks" and "AT&T thanks" in a new customer loyalty program infringed its trademark rights to the phrase "thankyou."
    Jason Zweig: Shareholders Are Disappearing Before Our Eyes More than one-fifth of the 1,500 largest companies in the U.S. have fewer than 300 official shareholders. Eight companies with market values of at least $1 billion each report having no more than 10 shareholders of record.
    Jennifer Lawrence Boarding Adam McKay's Theranos Movie In Ms. Lawrence, the director may have found the perfect leading lady to embody the 32-year-old C.E.O. Elizabeth Holmes, says Deadline.

    For the latest updates, go to NYTimes.com/DealBook
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