AOL's Patch To Receive $50 Mil Investment; Meanwhile, TMZ's Down Year
Patch.com, the hyperlocal journalism outfit AOL bought last year for $7 million, is set to receive a $50 million investment from its parent company in 2010, paidContent reports.
This will surely help the site’s mission to expand from 15 “patches” to “hundreds” by the end of the year.
Meanwhile, TMZ, which is no longer part of AOL but was until the spinoff late last year, had a down year: it brought in less revenue in 2009 than it did in 2008 or 2007.
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