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5:40 AM ET, June 15, 2016


 Top News: 
Twitter Ventures invests in SoundCloud; sources say investment is $70M in a round valuing SoundCloud at about $700M  —  Twitter wanted to buy the company a couple years ago; now it has invested $70 million instead.  —  Two years ago Twitter thought about buying SoundCloud, but ended up walking away from the music service.
Jim Puzzanghera / Los Angeles Times:
Federal appeals court denies telecom petition challenging FCC's net neutrality rules  —  A federal court on Tuesday upheld tough new regulations for online traffic in a major victory for President Obama and a blow to telecommunications companies, which challenged the net neutrality rules.
J.K. Trotter / Gawker:
Lawyer Charles J. Harder, hired by Thiel for earlier lawsuits, wants Gawker to reveal sources and take down its investigation of Trump's hair  —  Is Donald Trump's Hair a $60,000 Weave?  A Gawker Investigation Is Donald Trump's Hair a $60,000 Weave?  A Gawker Investigation Is Donald Trump's Hair a $60,000 Weave?
Joseph Lichterman / Nieman Lab:
Facebook executive: Your News Feed will likely be “all video” in five years  —  A Facebook executive said Tuesday that she expects the social platform to probably be “all video” in five years.  —  Videos are now viewed 8 billion times daily on Facebook, up from 1 billion views a year ago …
David Bond / Financial Times:
Reuters Institute: 53% of online news consumers prefer sites like Facebook, YouTube, Twitter over traditional media sites; 44% use Facebook for news each week  —  More than half of all online news consumers are turning to social networking sites such as Facebook, YouTube and Twitter ahead …
Discussion: Nieman Lab and @risj_oxford
Margaret Sullivan / Washington Post:
Post Executive Editor Martin Baron says Trump coverage will continue “honorably, accurately, and unflinchingly” regardless of credentials  —  Does Donald Trump believe in the well-established role of the press in American democracy?  It certainly doesn't look that way.
Donald Trump revokes Washington Post press credentials, bars reporters from campaign events, calls the newspaper “phony and dishonest”
Seth Fiegerman / Mashable:
Microsoft's $26.2B acquisition of LinkedIn is a sign of what's to come for Twitter and other social media companies  —  When LinkedIn went public in 2011, it was heralded as the first in a new wave of social media companies landing on Wall Street.  —  Facebook, Twitter …
Ben Popper / The Verge:
Rhapsody rebrands itself as Napster, the service it acquired in 2011  —  Rhapsody is part of the old guard of music streaming services, launched way back in 2001 as  It never got the traction of it's rival Spotify, and is now competing against titans like Apple and Google as well.
Benjamin Mullin / Poynter:
With a staff of 13, the guns-focused nonprofit Trace covered the Orlando shooting primarily with curation, adding context  —  If reporters at The Trace covered every shooting in the United States, they would never sleep.  —  So far this year, the guns-focused nonprofit has tallied …
Kristen Hare / Poynter:
How the Orlando Sentinel, with a third of the staff it once had, covered the country's deadliest mass shooting
Robert Channick / Chicago Tribune:
Johnson Publishing sells Ebony, Jet magazines to Texas firm  —  Ebony covers featuring Vanessa Williams (1983), Muhammad Ali (1978), Nelson Mandela (1990) and President Barack Obama (2008).  —  After a 71-year run in Chicago, Johnson Publishing is getting out of publishing.
Discussion: Folio, FishbowlNY and New York Post
Todd Spangler / Variety:
Turner partners with Wattpad, a fan fiction site with 45M users, to identify talent and trends, will adapt some works for TV and digital platforms  —  Turner's TNT and TBS are teaming with Wattpad, an online community for users to share and read original stories, to give Wattpad's 45 million users …
Maria Chutchian / Forbes:
Judge to rule Wednesday on whether bankruptcy court's protection for Gawker extends to Nick Denton  —  Gawker Media's last-ditch effort to protect itself from a debilitating $140 million judgment using Chapter 11 may be a novel strategy to the media world but pharmaceutical and casino companies alike …
Discussion: Ad Age and The New York Observer
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 More News: 
Rrapo Zguri / European Journalism Observatory:
Too many media outlets and too few consumers are forcing Albania's legacy newspapers and TV channels to close
Joseph Lichterman / Nieman Lab:
Health and life sciences site Stat plans a paywall as it aims for more national coverage
Jeremy Barr / Ad Age:
Thrillist Media Group CEO Ben Lerer on profitability, Facebook Live, and the current stat of media
Discussion: @abrams
 Earlier Picks: 
Rick Edmonds / Poynter:
The Newspaper Association of America is shutting down its national ad sales affiliate
Discussion: FishbowlNY, FishbowlNY and @raju
Cecilia Kang / New York Times:
Cable industry ramping up lobbying after FCC proposes plans to open the set-top box market, require broadband privacy rules, and more
Discussion: Fortune and Consumerist
Josh Constine / TechCrunch:
Snapchat inserts ads between stories, introduces other changes in prep for IPO