Wednesday, August 7, 2013

A Rough Patch

Tim Armstrong
 (Photo credit: Wikipedia)
AOL CEO Tim Armstrong's not OK with the unprofitable performance of the online company's network of news sites, Patch (see "TUOL" 5/9/13 post), and outlined plans to turn things around during a second quarter earnings call to investors this week, Forbes reported.

Armstrong said by the end of this year, 300 or so Patch sites that are lagging in the earnings department will be shut down, sold off, or possibly partnered, perhaps with money-starved  newspapers whose online editions are not fully developed. Forbes quoted Armstrong as saying the average cost of a Patch site is "much, much lower" than the two-year-old figure of $150,000.

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