Tim Armstrong: "We’re Losing About $20 Million A Year" In News And Finance

tim armstrong

Photo: AP

In case you’re wondering why AOL had to cut 900 people yesterday, Tim Armstrong tells David Kaplan at Paid Content about the brutal economics of its news operations:Tim Armstrong: “The content side’s changes are driven by the need for AOL to become fully-digitally native. A lot of our companies and brands are, but there are others that need to be transitioned. For instance, in News & Finance, we’re losing about $20 million a year in that category. In contrast, Huffington Post is high growth and will be high profitability in that area. So the changes there reflect the ability for us to go from a model where Finance & News has been struggling as an internet business.”

Continue reading the whole interview at paidContent »

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