AOL Unloads Patch News Network In JV

Law360, New York (January 15, 2014, 6:22 PM EST) -- AOL Inc. and Hale Global said on Wednesday that they are creating a joint venture in which Hale Global will operate, modernize and improve Patch Media Corp., a local online news network featuring more than 900 websites.

The deal is expected to be completed early in the first quarter of 2014. Financial details were not disclosed. As part of the deal, AOL will make Patch into a new, limited liability company, which will be operated and majority owned by Hale Global. AOL will retain a minority...
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