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August 9, 2013 09:47 pm GMT
Today AOL confirmed that Patch will close hundreds of its hyperlocal news sites and fire hundreds of its employees. TechCrunch reported the coming staff and site reductions on Thursday.The move comes as AOL strives to make Patch profitable by the end of the year. To reach that goal, AOL decided to cut fat. This is a financially reasonable decision as many Patch sites did not make money, and only certain markets appear capable of sustaining their own hyper-local news service. (AOL owns TechCrunch.)
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nbEQ60JYsB4/
The Math Behind Patch's Deep Cuts And AOL's Larger Content Division
Today AOL confirmed that Patch will close hundreds of its hyperlocal news sites and fire hundreds of its employees. TechCrunch reported the coming staff and site reductions on Thursday.The move comes as AOL strives to make Patch profitable by the end of the year. To reach that goal, AOL decided to cut fat. This is a financially reasonable decision as many Patch sites did not make money, and only certain markets appear capable of sustaining their own hyper-local news service. (AOL owns TechCrunch.)Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/nbEQ60JYsB4/
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