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Showing posts with label Dotcom bust. Show all posts
Showing posts with label Dotcom bust. Show all posts

March 23, 2011

AOL To Shut The Door on 30 Media Brands

AOL Inc. is folding about 30 of its sites into more prominent Web destinations after evaluating the overlap among more than 70 AOL sites and those published by the Huffington Post, the online news commentary site it acquired last month.AOL is on the verge of downing their shutters on  about 30 of its online media brands.
The struggling Internet company plans to emphasize sites that generate traffic and have brand equity with users, including Huffington Post's politics, entertainment and business sites and AOL's Moviephone entertainment, music, Engadget and TechCrunch technology sites

The WSJ  states that the sites that will be folded include AOL's Politics Daily and Urlesque, which will fold into Huffington Post Comedy. Other changes will include Huffington Post's travel section will become a part of AOL Travel, AOL Radio will become part of AOL Music, AOL's Aisledash will be integrated into its Stylelist beauty and fashion site, and AOL's Wallet Pop personal finance site will become a part of its Daily Finance business site.AOL blogs Lemondrop and Asylum have already ceased publication.

AOL acquired the Huffington Post for $315 million last month. Huffingtion Post co-founder Arianna Huffington said, "Today's decisions are another step on the same road we've been traveling since we merged, eliminating duplication to focus on the most dynamic brands which we can invest in and grow," in a statement.

The news comes as little surprise after the struggling tech giant laid off about 900 employees earlier this month, shortly following its $315 million acquisition of The Huffington Post. The staff of some publications were wiped completely.

Kim Voynar at Moviecity news informs that TV Squad is being folded, along with a bunch of other former Weblogs, Inc. properties." And so AOL continues its marvelous tradition of buying something cool and unique and then ruthlessly killing it by a combination of gross mismanagement and arrogant incompetence"