In response to complaints by AOL employees, CEO Tim Armstrong reversed a recent policy change to reduce the number of times the company makes matching contributions to 401(k) plans.
The company will again make contributions with each pay period instead of once a year, Armstrong wrote in an e-mail to employees Saturday. He also apologized for comments he made during an employee conference call Thursday "when I mentioned specific healthcare examples in trying to explain our decision making process around our employee benefit programs."
During the meeting, Armstrong rationalized the 401(k) reductions as necessary to offset … Read more
AOL had a strong 2013 on the revenue front, and although things looked dire on profits, some extra context helps to put the data into perspective.
During its 2013 fiscal year, AOL generated $2.3 billion in revenue, up 6 percent compared to the $2.2 billion it generated in 2012. And although the company was able to post a $92.4 million profit during the period, that was down 91 percent compared to the $1 billion it made in the prior year.
Comparing the two years, however, might be like comparing apples and oranges. In 2012, AOL had a $… Read more
AOL has felt the pull of content-personalization company Gravity.
AOL announced the deal on Thursday, saying it'll pay $83 million for Gravity. AOL says that the acquisition will make it easier for its network of sites to present relevant content to users, and could improve the company's analytics, targeting, and advertising offerings.
Gravity is perhaps best known for its Interest Graph -- a visual representation of what topics are trending across the Internet. Gravity then analyzes a user's actions on the Web and delivers real-time content and advertising based on their interests. According to AOL, Gravity has … Read more
AOL announced Wednesday that it's giving up most of its control over Patch.com.
Hale Global, an investment holding company, will take over Patch's more than 900 news sites within the next three months. Patch, a network of community-oriented sites publishing local news, serves more than 16 million people, according to a press release.
"We are committed to bringing users, local businesses, writers and advertisers together into a Patch experience full of innovation and growth," Charles Hale, CEO of Hale Global, said in the release. "Along with AOL, we are committed to taking the necessary … Read more
Reports of Winamp's death were greatly exggerated.
Once scheduled to kick the bucket last month, the software has found new life with new parent Radionomy, an online radio station aggregator. On Tuesday, Radionomy announced that it purchased both Winamp and streaming music site Shoutcast from former owner AOL. Terms of the deal were not revealed, though a Belgian news site says that AOL bought a partial stake in Radionomy as part of a recent round of funding.
Will Winamp change under its new management? Yes, but for the better, according to Radionomy. The program will add access to more … Read more
Winamp may continue to play another day but in the house of a new owner.
Current parent AOL has cut a deal to sell the software to Radionomy, TechCrunch reported Wednesday. Located in Belgium, Radionomy provides access to around 6,000 online radio stations. The deal should be completed by Friday, if not sooner, a "reliable source" told TechCrunch.
The tipoff that Radionomy would be the new owner was spotted by a person on the Winamp forums and a blogger, both of whom discovered that the domain name servers for winamp.com had been changed to point to … Read more
Don't play taps for Winamp just yet. The program may yet get another lease on life.
Last month, Winamp maker Nullsoft announced that parent AOL was going to pull the plug on the software come Friday, December 20, after which point it would no longer be available for download. But blog site TechCrunch, which is also owned by AOL, said that a suitor may swoop in to save the program.
The Web world was abuzz on Monday with reports that AOL's foray into local news with Patch was in the process of being shuttered. But now it appears that might not be the case.
The New York Times' David Carr on Sunday reported that AOL is "winding down" its Patch network of local news sites after repeated attempts by the company's chief executive, Tim Armstrong, to boost the ailing company. The claim came despite a comment made by Armstrong saying that Patch was "moving toward" profitability, indicating that the end might not be in … Read more