Business Issues Aside, Patch Is a Good Addition to Your Media List
Perhaps taking a page out of Third Point’s activist investor guidebook, investment advisor Starboard Value has launched a proxy battle against AOL to get seats on the board and then push to unload local news outlet Patch.
Patch has had a lot of troubles. The latest effort to turn things around includes a restructure and cutting 20 managers. According to Forbes, “The days of AOL treating Patch like a garbage disposal for money are officially over.”
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