AOL Finds Partner to Run Patch Local News Service
Posted on January 17, 2014AOL has found a partner, Hale Global, to run Patch, its local news service. The deal was announced on January 15. Hale Global will have full control over Patch, while AOL retains a minority interest. Reuters reports that AOL investors wanted AOL to stop spending so much money on Patch.
Hale Global says it is committed to patch. Hale Global CEO Charles Hale said in a statement, "We are committed to bringing users, local businesses, writers and advertisers together into a Patch experience full of innovation and growth. Along with AOL, we are committed to taking the necessary steps to ensure Patch remains a vibrant part of the community."
Patch currently offers local news for 22 states and the District of Columbia. Even though AOL has found a partner for Patch the future of the service still remains uncertain. Fox Business is reporting that Patch may be dismantled and its assets sold in pieces.