Action camera maker GoPro announced Wednesday that it is cutting 270 jobs as it seeks to reduce operating expenses by $200 million and achieve its goal of reaching profitability this year.

The move comes as the company has struggled to boost demand for its core products while also encountering big headaches with the Karma, its first entry in the drone space. It had to recall the first batch while the re-released Karma still isn't getting high marks from reviewers.

On a brighter note: GoPro said it expects first quarter revenue will be at the upper end of its prior target of $190 million to $210 million.

A $1.9 billion defamation lawsuit against ABC News for referring to a South Dakota company's meat product as "pink slime" is going to trial after a South Dakota judge ruled that ABC journalists "were reckless" in their reporting and that "they engaged in purposeful avoidance of the truth."

The judge dismissed a five-year-old defamation suit against Diane Sawyer but left open cases against several other journalists, include Emmy-winning reporter Jim Avila. The "pink slime" controversy gained national attention for crippling the beef company, and affecting employment. The network has repeatedly defended its reporting, calling the suit meritless.

Why it matters: The case is another First Amendment test for the media, and will further define the scope of food libel laws across the country. The South Dakota food libel law that this suit is based on triples the amount of reported damages if a news organization knowingly lied about food safety claims, meaning ABC could be looking at up to $5.7 billion in charges.

The Trump administration will push the House Republican leadership to move up the end date for Medicaid expansion in the Obamacare replacement bill, cutting off states' ability to enroll new people with extra federal funds in 2018 rather than 2020, according to a source with direct knowledge of the administration's plans.

The administration also wants to block states that haven't expanded Medicaid from doing so before the expansion ends. Both changes would be a major concession to conservatives, who don't want states to rush in and join what they see as an increasingly expensive entitlement.

Why it matters: The administration wants to signal flexibility with conservatives, but they've been running into resistance from House Speaker Paul Ryan and other top Republicans, who think they've already struck the best balance between states that expanded Medicaid and the ones that didn't. The changes could come up either at the House Budget Committee markup tomorrow — where Republicans are already worried about losing conservative votes — or at the Rules Committee next week, just before the package goes to the House floor.

One more for the radar: The administration is also open to changing the bill's tax credits to target more aid to low-income people, although they're not pushing it actively at the moment. Ryan's team has resisted the idea.