What you need to know in advertising today

On Tuesday, the fried chicken chain announced it is bringing the original colonel, Harland Sanders, back from the dead in a series of new ads launching this week.

To read more about why KFC is bringing Colonel Sanders back from the dead, click here.

In other news:

Discovery dropped $14.6 billion to buy the dying cable TV business model more time. It gets more leverage to squeeze as much as it can out of the cable model.

Under Armour is having an identity crisis that's throwing the company into a tailspin.The sportswear company said Tuesday that its North American sales increased a meager 0.3% in the most recent quarter — a far cry from its long history of double-digit revenue growth.

"Modern Family" actress Sofia Vergara is launching an underwear startup. Vergara is partnering with Renata Black to relaunch a women's underwear brand called EBY (formerly "Empowered by You").

Pinterest wants to be a search company, so it's putting search front and center. The company is reinforcing that with a new app update that became available Monday.

Reddit has raised an extra $200 million.

Pandora topped Q2 revenue targets and its stock had a wild rebound.The company released its Q2 earnings on Monday, topping Wall Street's revenue target and sending shares soaring 7% in after hours trading. Its ad revenues were $278.2 million, up 5% from last year.

Facebook bought an AI startup that could turn its middling virtual assistant into a Siri killer. Ozlo, which was founded four years ago and is based in Palo Alto, California, describes itself as "an index of knowledge about the real world."

The chiefs of Facebook, Google, and other tech giants aren't committing to testify to the US Congress on net neutrality, Recode reports.

Spotify now has 60 million paying subscribers, The Financial Times reports.

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