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AOL Plots Patch Expansion; Daily News Gets New CEO
August 17, 2010
AOL will introduce more than 400 local news sites by the end of 2010. It's part of Tim Armstrong's plan to expand Patch fivefold in an effort to capture local advertising dollars. The company, which has seen its stock price fall six percent on the year, wants to hire 500 additional journalists to help with the project. Each will manage an average of 11 freelancers, who will do the majority of the reporting. The venture's price tag will reach $50 million...
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