Update: AOL Says Its Hyperlocal News Network Patch Is Not Closing
Posted: 12/17/2013 | By: Catherine Shu | TechCrunch
Update: AOL says implications that Patch is closing down are inaccurate. A New York Times article stated that AOL is reportedly planning to “dismantle Patch or perhaps sell it off to various partners,” even though CEO Tim Armstrong “cannot quite admit that it is over.” In response, a spokesman for the company told TechCrunch that it stands behind what CEO Tim Armstrong said at a Dec. 11 UBS conferenceand in AOL’s last three earnings calls about Patch. (Like Patch, TechCrunch is also owned by AOL).
In an attempt to reassure employees, Patch COO Leigh Zarelli Lewis sent out an internal memo (obtained by Business Insider) stating that “We are continuing to talk with potential partners about Patch and there is no change in course or direction from what we have discussed as a team.” The report in the New York Times and AOL’s denial of closure speak to the ongoing saga around Patch and how from the outside–and even to employees–there appears to be a lot of indecision still at play, leaving Patch’s remaining workforce in suspense.