Mediagazer: Under terms of proposed new funding deal for SoundCloud, former Vimeo CEO Kerry Trainor would replace Alex Ljung as CEO, who would stay on as chair of the board (Peter Kafka/Recode)

7:35 PM ET, August 10, 2017

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Dan Primack / Axios:

Memo: SoundCloud asks investors to approve reorganization proposal, if accepted, new $170M round will close Friday at pre-money valuation of $150M — Tomorrow is do or die for SoundCloud, the struggling streaming music company that recently laid off 40% of its staff despite having raised over $230 million in venture capital.

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Peter Kafka / Recode:

Under terms of proposed new funding deal for SoundCloud, former Vimeo CEO Kerry Trainor would replace Alex Ljung as CEO, who would stay on as chair of the board — Investors want to replace founder Alex Ljung with former Vimeo CEO Kerry Trainor. — Investors want to replace the CEO of SoundCloud …

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Sara Fischer / Axios:

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Georgia Wells / Wall Street Journal:

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Tom Kludt / CNNMoney:

ABC News paid $177M+ to settle “pink slime” lawsuit earlier this year according to earnings report from network's parent company Disney — ABC News made an historically large payout to settle a defamation lawsuit earlier this summer, according to a new financial release …

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David Uberti / Splinter:

61% of BuzzFeed News staffers identify as white, down from 69% two years ago, while the number of Hispanic employees has stagnated, according to company data — BuzzFeed News' staff is generally becoming more representative of the communities it aims to cover and the audiences it tries to reach …

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