AOL: Only 1 Of Every 9 Patch Sites Profitable

Smart Money,

AOL Inc. CEO Tim Armstrong said Monday about 100 of the company's 900 Patch sites are now profitable, as the Internet media firm seeks to use its costly local online news network to help fuel an ongoing turnaround effort. "There's about 100 [Patch] towns, or more than 100 towns, that are profitable," Armstrong said during an appearance at the Citi Global Internet, Media & Telecommunications Conference.

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