June 18, 2019 / 5:35 AM / 4 months ago

PRESS DIGEST-New York Times business news - June 18

June 18 (Reuters) - The following are the top stories on the New York Times business pages. Reuters has not verified these stories and does not vouch for their accuracy.

- As U.S. President Trump is gearing up to impose tariffs on an additional $300 billion worth of Chinese products, hundreds of businesses, trade groups and individuals are descending on Washington to beg the administration not to follow through with the new taxes. nyti.ms/31EmoUQ

- The digital platform company TheMaven Inc has bought the right to publish Sports Illustrated, digitally and in print, for at least the next 10 years, ending the former owner Meredith's relationship with Sports Illustrated a few weeks after the landmark magazine's intellectual property was sold to the Authentic Brands Group, TheMaven and Meredith announced Monday. nyti.ms/31HfIp0

- Sotheby's on Monday was acquired by French-Israeli telecommunications entrepreneur and billionaire Patrick Drahi, in a deal worth $3.7 billion. The purchase, by Drahi's BidFair USA, returns the only publicly traded major auction house to private ownership after 31 years on the New York Stock Exchange. nyti.ms/31GAuVq

- China's Huawei Technologies Co Ltd is slashing its sales expectations for this year by around $25 billion as the Trump administration's clampdown on the firm takes a bite out of its business. At an event on Monday at Huawei's headquarters in Shenzhen, the company's Chief Executive Ren Zhengfei said he expected annual revenue to come in at about $100 billion both this year and next before recovering in 2021. nyti.ms/31BNKL6

- J Abrams is in final negotiations with Warner for a multi-year partnership valued at about $500 million. The deal covers movies, television shows, video games, consumer products, music and digital content for a WarnerMedia streaming service set to arrive early next year. nyti.ms/31DiPy3 (Compiled by Bengaluru newsroom)

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