media

On Wednesday, media outlets reported that hundreds of journalists working at Patch news websites had been laid off. A source told media blogger Jim Romenesko that up to 90 percent of journalists working at Patch were laid off.

The sites’ corporate parent, AOL, announced in mid-January that it had sold a majority stake in Patch to turnaround firm Hale Global. AOL chief Tim Armstrong had promised shareholders who had become angry about the $100 million in losses the sites had suffered that Patch would be profitable by the end of 2013.