What you need to know in advertising today

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 the bottom. 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.