New Patch Owner Hale Running Company in 'Lean, Entrepreneurial Mode'

By: Tom Grubisich | Street Fight

After a tumultuous and mostly unprofitable three-and-a-half years under media giant Aol, hyperlocal publishing network Patch was acquired in January by Hale Global, a holding company that specializes in turnarounds, mostly with technology firms. Having lost hundreds of millions of dollars as it mushroomed into a nationwide network of 900 sites, Patch was ready for a turnaround.