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Report: AOL Done With Patch

Despite reports to the contrary, The New York Times is being told that AOL is planning to “dismantle Patch or perhaps sell it off to various partners.” In no uncertain terms, “the hunt to own the lucrative local advertising market, [AOL CEO and Patch founder Tim] Armstrong’s white whale, is over,” NYTimes declares. As Armstrong told the paper of record late Friday: “We’ve had to adjust based on the investor commitments that we have made.”
 

Read the whole story at The New York Times »

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