AOL finds a taker for local news purveyor Patch

Peter Kafka

After years of struggles to make it a viable business, AOL is giving control of its Patch network of local news sites to turnaround firm Hale Global, which will operate the sites with AOL as a minority partner.

For more details from Re/code, click here.

By Peter Kafka,

CNBC's parent NBC Universal is an investor in re/code's parent Revere Digital, and the companies have a content-sharing arrangement.

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