BLOOMBERG EXCERPT - IN THE LOOP WITH BETTY LIU Bloomberg Surveillance
February 06, 2014
Speaking on brands, i know you sold a majority stake in Patch, a local news service essentially. Was it hard? It was a pet project of yours.
I think it is the right outcome for AOL, because it is 150 billion dollar space. We have almost 20 million consumers in that space and the product had to be restructured. I think it will be restructured more successfully than it would on our own. We will hang with Hale, and we are big owners of the property still and will work very closely with them. One thing we have been able to do with Hale, and the rest of the content properties, we just purchased content brands that will get more personal.
What will Hale do that AOL could not do?
They are focused on the community platform aspect of the product. We have great editors producing a lot of content, but really, the focus on the technology stack for what they will bring to the table, i think they will bring a faster way to restructure the product.