Tuesday, June 6

What’s Trending Today: Vice Files for Bankruptcy, Morant Suspended, The Weeknd Closes a Chapter

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(Bloomberg) — Welcome to Social Buzz, a daily column looking at what’s trending on social media platforms. I’m Caitlin Fichtel, an editor on Bloomberg’s Breaking News team, which monitors everything from company statements to tweets from some of the most promin ent people in the financial world. Here’s your daily look at what the internet is talking about.

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Vice Files for Bankruptcy

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Vice Media LLC Filed for Bankruptcy Protection and Struck A DEAL to Sell Itself to Creditors, A Precipitous Fall for the Media upstart that once Boasted A $ 5.7 Bil. lion value. The developments cap a tumultuous fem Montreal nearly three decades ago and captured the attention of young viewers globally with documentary-style videos. It shared a Pulitzer Prize in 2020 and multiple Emmy wins for Vice News Tonight.

Read more: Seven Firms File for US Bankruptcy in One Day as Credit Tightens

China Sentences 78-Year-Old US Citizen

China has sentenced a 78-year-old American passport holder to life in prison on spying charges, as the world’s No. 2 economy prioritizes eliminating national security risks. John Leung, who is also a Hong Kong permanent resident, was sentenced in the east ern Chinese city of Suzhou on Monday, according to the court’s official WeChat page. In addition, some 500,000 yuan ($71,808) of Leung’s property was confused, the report added.

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Fanatics Buys PointsBet

Fanatics Inc. has acquired the US operations of PointsBet, helping accelerate the team apparel company’s push into the sports betting market. Fanatics is paying about $150 million, according to a statement. The deal doesn’t include PointsBet’s business in Australia , where the company is based, or Canada.

The Artist Formerly Known as ‘The Weeknd’

Popular singer The Weeknd is going back to his real name Abel Makkonen Tesfaye and has begun to update his social media accounts to reflect the change, CNN reported. “It’s getting to a place and a time where I’m getting ready to close the Weeknd chapter,” the singer said in an interview with W Magazine. “I’ll still make music, maybe as Abel, maybe as The Weeknd. But I still want to kill The Weeknd.”

Grizzlies Suspend Morant

The Memphis Grizzlies suspended Ja Morant from all team activities after a video circulated online showing the player holding a gun, ESPN reported. Morant was suspended two months ago by the NBA for a similar incident.

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—With assistance from Gerry Smith, Amelia Pollard, Graham Starr, Colum Murphy and Kari Lindberg.


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