AOL may never be able to patch up Patch

Technology - Wednesday, February, 15 2012FORTUNE -- It was so-called to be a savior. AOL's hyperlocal news venture Patch was created to fill the null left by the death of local newspapers around the country. Finding a dearth of online news in his Riverside, Connecticut hometown, Tim Armstrong co-based Patch in 2007. Embedded editors would file local news and maintain neighborhood activity calendars; the local ad market was largely untapped, or so went the intelligent. When Armstrong took the helm of AOL in 2009, the company acquired Patch for an estimated $7 million, making it a cornerstone of its transformation into an online media steadfast.

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