Patching up? Tim Armstrong's hyperlocal-news baby has numbers to brandish against hostile shareholders
Patch is under mounting pressure to start making money after reportedly losing somewhere between $100 million and $147 million in 2011. Starboard said in a recent report that it does not believe Patch is a "viable business."(1)
Patch sites in Iowa, New Hampshire and South Carolina are not just lucky to have the primaries; they were formed in anticipation of them as a strategic maneuver after the $315 million acquisition of The Huffington Post by AOL, which owned Patch. Fineman worked on integrating the two brands: The Huffington Post was to continue its successful run as an aggregator of content and also engage in an aggressive build-up of reporters and editors responsible for breaking original stories on the site, which now includes hundreds of bylines and satellite offices around the world; Patch was a network of hyperlocal websites in 850 communities across the country.(1)
A test for AOL's Patch proposition in primary states, as hyperlocal network dispatches little green truck
"I saw the chairman of the state G.O.P. walk by the R.V., so I ran after him, turned him around and invited him into the Patchback for a video exclusive," said Dan Tuohy, a regional editor for the Patch sites, via email. "I posted it at 12:30, just before the guy went live on Fox."(1)
Who's behind Newark Politico? 'A group of Newark professionals,' as yet unidentified, gets a 'cease-and-desist' from Politico
"To date, we have made requests and have been in contact with most of Newark's political players in an effort to lend their political views and commentaries to Newark Politico," a representative for the startup website wrote to Capital. "Due to the political nature of the site we have chosen to keep confidential all communications with these individuals. We can neither confirm nor deny who has agreed to be a contributor."
UPDATE: Politico executive editor Jim VandeHei wrote to say the company has sent a cease and desist letter to the founders of Newark Politico. VandeHei confirmed that both the design of the logo and the name of the site are the targets of the letter.(3)