{"id":11762,"date":"2014-01-17T08:30:32","date_gmt":"2014-01-17T16:30:32","guid":{"rendered":"http:\/\/www.carlsbadistan.com\/?p=11762"},"modified":"2014-01-17T09:42:40","modified_gmt":"2014-01-17T17:42:40","slug":"aol-to-sell-money-losing-patch","status":"publish","type":"post","link":"http:\/\/www.carlsbadistan.com\/?p=11762","title":{"rendered":"AOL To Sell Money Losing Patch"},"content":{"rendered":"<p><a href=\"http:\/\/www.carlsbadistan.com\/wp-content\/uploads\/2014\/01\/100873975-173180981.530x298.jpg\" onclick=\"window.open('http:\/\/www.carlsbadistan.com\/wp-content\/uploads\/2014\/01\/100873975-173180981.530x298.jpg','popup','width=530,height=298,scrollbars=no,resizable=yes,toolbar=no,directories=no,location=no,menubar=no,status=yes,left=0,top=0');return false\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.carlsbadistan.com\/wp-content\/uploads\/2014\/01\/100873975-173180981.530x298-tm.jpg\" height=\"112\" width=\"200\" border=\"1\" align=\"right\" hspace=\"4\" vspace=\"4\" alt=\"100873975-173180981.530X298\" \/><\/a>Not sure how much longer we&#8217;ll have a <strong><a href=\"http:\/\/carlsbad.patch.com\" target=\"_blank\">Carlsbad Patch<\/a><\/strong> to kick around, but as long as we do it won&#8217;t be owned by <strong><a href=\"http:\/\/www.aol.com\/\" target=\"_blank\">AOL<\/a><\/strong>.<\/p>\n<p>According to <strong><a href=\"http:\/\/www.cnbc.com\/id\/101339756\" target=\"_blank\">a story on CNBC<\/a><\/strong> today, AOL CEO <strong>Tim Armstrong<\/strong> (above right) has decided to sell a majority share of Patch to <strong><a href=\"http:\/\/www.haleglobal.com\" target=\"_blank\">Hale Global<\/a><\/strong>, an investment fund.<\/p>\n<blockquote><p>Patch, AOL&#8217;s big bet on local news, has been a big problem for the company. In 2012 Patch had a loss of $35 million, and last year after hundreds of layoffs and shuttering many of its sites, it still didn&#8217;t turn a profit, despite a promise that it would by year-end. . . The terms of the deal were not announced, but AOL is effectively contributing Patch, while Hale contributes cash.<\/p><\/blockquote>\n<p>AOL will still be a minority owner, but they won&#8217;t have to take all the loses. Nice how there continues to be a market for businesses that lose money isn&#8217;t it? Guess everyone needs a write off here and there.<\/p>\n<p><strong>[Link: <\/strong><strong><a href=\"http:\/\/www.cnbc.com\/id\/101339756\" target=\"_blank\">CNBC<\/a><\/strong><strong>]<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Not sure how much longer we&#8217;ll have a Carlsbad Patch to kick around, but as long as we do it won&#8217;t be owned by AOL. According to a story on CNBC today, AOL CEO Tim Armstrong (above right) has decided to sell a majority share of Patch to Hale Global, an investment fund. Patch, AOL&#8217;s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[8,17,22],"tags":[],"_links":{"self":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/11762"}],"collection":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11762"}],"version-history":[{"count":3,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/11762\/revisions"}],"predecessor-version":[{"id":11766,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=\/wp\/v2\/posts\/11762\/revisions\/11766"}],"wp:attachment":[{"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11762"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.carlsbadistan.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}