Tim Armstrong: AOL Will Keep ‘Meaningful Minority Interest’ in Patch

By: Andrew Beaujon | Poynter

AOL announced Wednesday that it has given up its majority ownership of Patch.
 
In an email to staffers, AOL CEO Tim Armstrong said the new majority owner, a company called Hale Global, will be responsible for Patch’s “pivot.” That means the network of sites “isn’t AOL CEO Tim Armstrong’s problem anymore,” Nicholas Carlson writes.