AOL’s Patch is “winding down,” according to a report from the New York Times, but company representatives have side-stepped these claims, leading to a fresh round of speculation about the future of the local news outlet that has struggled to turn a profit.
Patch has been the subject of months of scrutiny surrounding the company’s finances, highlighted by major layoffs and cost cutting. AOL CEO Tim Armstrong founded Patch in 2007. AOL bought Patch in 2009, shortly after Armstrong became AOL’s chief executive.
When asked for comment, AOL referred Mashable back to Armstrong’s statements on Patch at a UBS conference earlier in December, in which the executive said the company would “probably have a partnership around Patch.” The quotes led some to believe it was a veiled reference to a sale of parts or all of Patch. Read more…
More about Aol, Patch, Tim Armstrong, Business, and Advertising
Read more : AOL Finishing Strong in 2013 Despite Patch’s Struggles
0 Responses
Stay in touch with the conversation, subscribe to the RSS feed for comments on this post.