New York Times | Bloomberg.com | DigiDay Daily
AOL’s Internet access business, in particular, would be good to unload, say analysts. They also point out that closing Patch, which has reporters in 850 towns, would free $160 million and lift AOL into profitability. (AOL lost $11.8 million in the second quarter.) AOL chief executive Tim Armstrong argues that the kind of content that Patch sites post is the Internet’s future growth engine. Analyst Sameet Sinha tells Verne Kopytoff: “Frankly, AOL hasn’t delivered on its [turnaround] promise yet. It’s just been a series of stumbles.” || DigiDay: AOL’s chief ad man talks tough, and says Patch “is another example of AOL leading in the marketplace.” || Bloomberg.com: For a private equity firm that’s looking for the cheapest way to get online, AOL is trading for 57 cents on the dollar.
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