Analyst: AOL Spends $160 Million on Patch
According to an analyst, AOL is spending a lot of money – about $160 million – to keep its local news network Patch, afloat. That breaks down to about $150,000 per site annually. And that is way too much money for a group of sites that seem to be spinning their wheels. The problem, according to The Wall Street Journal, is that no one is visiting AOL’s sites anymore:
Traffic to AOL sites rose just 3% in June, according to comScore Inc.,
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