What you need to know in advertising today

Antonio
Lucio.
HP

Facebook is trying to repair its image after its chain of
scandals — and it has brought in a veteran marketer to help.

On Thursday, the Silicon Valley social network announced that it
has hired Antonio Lucio to be its new chief marketing officer.
Lucio was previously the CMO of computer firm HP, and served in
the same role at Visa and Pepsi before that. He fills a role left
vacant when Gary Briggs left Facebook in January 2018.

In a post on Facebook, chief product officer Chris Cox welcomed
Lucio aboard.

“Facebook’s story is at an inflection point,” Cox wrote. “We have
never faced bigger challenges, and we have never had more
opportunities to have a positive impact on the world — in our
families, our friendships, our communities, and our democracy —
by improving our products at their core, and then by telling the
story outside that we all know to be true inside.”

To read more about Facebook’s new new CMO, click here.

In other news:

LA Times owner and biotech
billionaire Patrick Soon-Shiong is in talks to join the group
bidding for newspaper company Tronc. Soon-Shiong,
through his investment firm Nant Capital, may partner with a
private equity firm led by hedge fund manager William Z.
Wyatt, which has been in talks with Tronc since early
August.

Read the inside story of Peloton,
a fitness media company that was turned down by over 400
investors but is now worth $4 billion. Peloton CEO
John Foley estimates that his company was rejected between 5,000
to 6,000 times by investors.

The brawl between KSI and Logan
Paul is the inevitable consequence of the YouTube algorithm’s
race to thebottom. YouTube
boxing matches are a weird new trend and it’s all because
creators have to make ever-more extreme content for views and
revenue.

Facebook is coordinating a
secret meeting of Silicon Valley giants to combat misinformation
ahead of the US midterms. According to a
report by Buzzfeed’s Kevin
Collier on Thursday, Facebook, Twitter,
Google, Microsoft, and Snap will hold a private meeting on Friday
to discuss the problem of misinformation ahead of the US midterm
elections in November.

And we announced our lineup of
IGNITION 2018 speakers. Click for more detail
on this year’s speakers, which includes leaders from
Dropbox, Hulu, Etsy, and Openwater discussing critical topics, from AI and
robotics to the future of entertainment, healthcare, finance, and
transportation.