AOL Lost $40 Million on Patch During First Quarter
According to Forbes, AOL lost $40 million on its local news network Patch during the first quarter. And despite adding a bunch of unpaid bloggers to its sites, AOL doesn’t expect to have much good to say about Patch for quite some time:
On this morning’s first-quarter earnings call, CFO Artie Minson said the rate of investment in Patch ought to decline in the second half of the year as a “steady stream” of the 800-plus sites begin to turn profits individually.
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