AOL Posts

Moviefone is shutting down their 777-FILM phone service

moviefone_logo
Over the last 25 years, people have been able to call 777-FILM to get movie listing information and buy tickets. This past weekend, callers were told that the service would soon be ending.
Continue reading →

AOL CEO Tim Armstrong reverses 401(k) policy after negative publicity

AOL Logo
AOL CEO Tim Armstrong has reversed a decision to change 401(k) benefits after some negative publicity. The change was made originally because of higher healthcare costs. Essentially Tim Armstrong blamed Obamacare for the 401(k) changes and cited two “distressed babies” as a result of their increased expenses leading to a decision that AOL would no longer match 401(k) deposits on a regular basis.
Continue reading →

AOL CEO said that Obamacare forced them to reduce 401(k) benefits

AOL Logo
AOL is scaling back their employee retirement benefits, which the CEO said is because of President Barack Obama’s health care reform. AOL CEO Tim Armstrong went as far as saying that two AOL employees had distressed babies that were born and the company paid a million dollars each to make sure that “those babies were OK in general. And those are the things that add up into our benefits cost.” This is why Armstrong decided to scale back the 401(k) plans that employees have.
Continue reading →

AOL reports $679 million in Q4 revenue

AOL Logo
AOL has reported better-than-expected revenue for fourth quarter. The company reported a 13% increase in revenue for the quarter to $679 million compared to $599.5 million from the same period last year.
Continue reading →

Patch announces major layoffs

Patch Logo
AOL recently gave a majority stake of Patch.com to an investment company called Hale Global. Hale is generally known for helping turning around struggling companies. During the time of the announcement, Hale said that they were intended to keep Patch’s 900 operations intact with no staffing decisions. Today, hundreds of employees were laid off as part of a reorganization. Media blogger Jim Romenesko posted an audio clip of Patch COO Leigh Zarelli Lewis announcing the layoffs.
Continue reading →

AOL buys Gravity for $90 million

Gravity Logo
AOL has acquired Internet personalization and optimization company Gravity for $90.7 million. Gravity was founded by former MySpace employees Amit Kapur, Jim Benedetto and Steve Pearman in 2009. AOL will use Gravity to personalize content for their network of properties.

Continue reading →

AOL turns Patch over to Hale Global

Patch Logo
AOL has passed Patch.com over to Hale Global, a firm that specializes in turnarounds. AOL chairman Tim Armstrong has been sentimental about the fate of Patch.com because he was a co-founder of the company.
Continue reading →

AOL sells Winamp and Shoutcast to Radionomy

Radionomy Logo
AOL has decided to sell Winamp and Shoutcast to a Brussels, Beligum based company Radionomy. AOL was planning to shut down Winamp and Shoutcast initially, but decided on selling instead. There was a rumor floating around that Microsoft was interested. Radionomy is an international aggregator of online radio stations.
Continue reading →