HuffPost laid off 39 journalists on Wednesday, including the site’s first and only Pulitzer Prize winner. In a statement from the Writers Guild of America East, the union representing the site’s reporters, the downsizing was “part of a corporate-wide layoff in connection with Verizon’s acquisition of Yahoo.” Senior military correspondent David Wood, who won the 2012 Pulitzer Prize for national reporting, was among those pink-slipped, according to HuffPost media writer Michael Calderone. Also Read: Oath CEO Tim Armstrong Details Layoffs at New Yahoo-aol Venture Downsized writers will receive a “collectively-bargained severance package that includes two months’ salary plus a week of pay for.
- 6/15/2017
- by Thom Geier
- The Wrap
AOL boss Steve Case, you’ve got hate mail — according to a study by crowd-sourced business insights firm Owler 19. Tim Armstrong, AOL — 44.4/100 18. Charlie Vogt, Imagine Communications — 53.5 /100 17. nm2880042 autoBrian L. Roberts[/link], Comcast — 56.9 /100 16. Richard L. Plepler, HBO — 60.5 / 100 15. Peter Hamilton, Tune — 62.5/100 14. James C. Smith, Thomson Reuters — 66.8/100 13. Thomas Dooley, Viacom — 70.5/100 In November 2016, Bob Bakish was named acting CEO when Dooley stepped down just months after becoming interim chief executive following the ouster of Philippe Dauman. 11. Mike Hopkins, Hulu — 71.5/100 (tie) 11. Jeffrey Bewkes, Time Warner —...
- 6/1/2017
- by Thom Geier
- The Wrap
AOL CEO Tim Armstrong has been named the least likable CEO in Media and Entertainment, according to a study published by Owler. On the flip side, the top three most likeable CEOs in the Media & Entertainment industry include Hearst’s Steven R. Swartz, Turner’s John Martin, and Magzter’s Girish Ramdas. Disney CEO Bob Iger ranked 5th. Owler — a crowdsourced business insights company that runs a National Likeability Study — conducted the study by polling its global database of 15 million companies and over 167,000 executives across a wide range of industries, such as artificial intelligence, food and beverage, finance and healthcare.
- 5/31/2017
- by Umberto Gonzalez
- The Wrap
For Scorpion‘s Katharine McPhee, getting Lea Thompson for a TV mom almost seemed to be her density.
Er, destiny.
“I was at a good friend’s wedding where I met Zoey Deutch (Switched at Birth, Ringer), and I knew that Lea was her mom. We kind of hung out, and three months later Lea comes on my show,” McPhee recounts for TVLine. “I was like, ‘I met your daughter before!’ And then I found out Lea lives not too far from me.”
RelatedScorpion EPs Talk Paige’s Fury at Walter, ‘Interesting’ Triangle Fallout
The Back to the Future...
Er, destiny.
“I was at a good friend’s wedding where I met Zoey Deutch (Switched at Birth, Ringer), and I knew that Lea was her mom. We kind of hung out, and three months later Lea comes on my show,” McPhee recounts for TVLine. “I was like, ‘I met your daughter before!’ And then I found out Lea lives not too far from me.”
RelatedScorpion EPs Talk Paige’s Fury at Walter, ‘Interesting’ Triangle Fallout
The Back to the Future...
- 1/16/2017
- TVLine.com
AOL plans to lay off 500 employees today, or about 5 percent of its global workforce, TheWrap is told. Company CEO Tim Armstrong broke the news to his employees in an email, which has been obtained by TheWrap and posted below. “I can confirm we are impacting a small percentage of our global workforce,” an AOL rep told us when reached for comment. A person with knowledge of the re-org confirmed the specific numbers for TheWrap. Also Read: Univision to Lay Off 250 People After Rough Q3 Per a Wednesday Recode conversation with AOL’s chief executive, most cuts will come from the former America Online’s.
- 11/17/2016
- by Tony Maglio
- The Wrap
It just isn’t a Green Day single without an equally insane music video to go along with it, right? After having witnessed a motorcycle ride to a concert in the video for “Kill the DJ” and the band surrounded by fire in a prison for “Know Your Enemy,” nothing really surprises us anymore. For Green Day’s new video for “Bang Bang,” the trio goes and robs a bank – or at least their lookalikes do.
In the “Bang Bang” clip, crooks disguised as Green Day (wearing creepy Green Day masks) rob a bank while the band is playing a rowdy house party, but the criminals luckily have the common decency to appear at the show and throw all the money in the air upon their arrival.
The fun video ultimately matches the tone of the song itself, which serves as the lead single for the band’s upcoming album,...
In the “Bang Bang” clip, crooks disguised as Green Day (wearing creepy Green Day masks) rob a bank while the band is playing a rowdy house party, but the criminals luckily have the common decency to appear at the show and throw all the money in the air upon their arrival.
The fun video ultimately matches the tone of the song itself, which serves as the lead single for the band’s upcoming album,...
- 9/13/2016
- by Joe DeAndrea
- We Got This Covered
The following post contains spoilers from the Scorpion Season 2 finale. Proceed with caution.
Dr. Toby Curtis, we can’t believe you didn’t see this coming.
Team Scorpion‘s resident shrink can psychoanalyze just about anyone, but when it comes to decoding the habits of his own girlfriend, he seems to have missed a tiiiiny detail these last few months: She’s already taken.
Just moments after his co-workers rescued him from certain death during Monday’s Season 2 finale, Toby finally got down on one knee and popped the question to Happy, complete with a so-cheesy-it’s-adorable song and a confetti cannon.
Dr. Toby Curtis, we can’t believe you didn’t see this coming.
Team Scorpion‘s resident shrink can psychoanalyze just about anyone, but when it comes to decoding the habits of his own girlfriend, he seems to have missed a tiiiiny detail these last few months: She’s already taken.
Just moments after his co-workers rescued him from certain death during Monday’s Season 2 finale, Toby finally got down on one knee and popped the question to Happy, complete with a so-cheesy-it’s-adorable song and a confetti cannon.
- 4/26/2016
- TVLine.com
Team Scorpion is already a tight-knit family, but what if a new member joins the team? Will the current members welcome him with open arms as they work together to bring down a black market antiquities seller in Djibouti, Africa? That’s what we shall find out in this week’s episode of Scorpion. Agent Gallo arrived at the Homeland office in a brand new car, a change from his black SUV, and picked up his new trainee Tim Armstrong (guest star Scott Porter) before heading to the garage to brief the team on their newest case, which is to install an
Scorpion Review: Agent Gallo’s captured and Paige has a new admirer.
Scorpion Review: Agent Gallo’s captured and Paige has a new admirer.
- 3/22/2016
- by Tiffany
- TVovermind.com
This Monday’s episode of Scorpion is going to be another nail-biter, I just know it! Agent Gallo got himself captured while on a secret mission in Djibouti, Africa with Team Scorpion and it’s up to the latter to figure out a way to save him. The Homeland agent also brings in a new recruit to the team, a new trainee named Tim Armstrong who will peak the interest of a certain team liaison. If these two get together, what will become of Walter? Will the genius interfere or let Paige have another chance at happiness even though it’s not with
Scorpion Sneak Peek: Agent Gallo is captured. A new member joins Team Scorpion.
Scorpion Sneak Peek: Agent Gallo is captured. A new member joins Team Scorpion.
- 3/17/2016
- by Tiffany
- TVovermind.com
AOL’s video department has lost one of its top executives. President of AOL Video and Studios Dermot McCormack has left the digital media publisher and online video brand.
McCormack’s departure comes less than a year after the executive joined AOL in October 2014. The former AOL video president is also leaving the company only a few months after it was acquired by Verizon. McCormack oversaw both AOL’s original content studios as well as the video syndication platform AOL On.
However, as AOL Chief Executive Tim Armstrong told the Wall Street Journal, the company has slowly decentralized its video initiatives to its various properties, like The Huffington Post and TechCrunch. Armstrong said McCormack’s role had become a third of what it was back in October, and the overall change “was a very natural progression.”
When Variety contacted AOL for comment, a rep simply said, “We thank Dermot for...
McCormack’s departure comes less than a year after the executive joined AOL in October 2014. The former AOL video president is also leaving the company only a few months after it was acquired by Verizon. McCormack oversaw both AOL’s original content studios as well as the video syndication platform AOL On.
However, as AOL Chief Executive Tim Armstrong told the Wall Street Journal, the company has slowly decentralized its video initiatives to its various properties, like The Huffington Post and TechCrunch. Armstrong said McCormack’s role had become a third of what it was back in October, and the overall change “was a very natural progression.”
When Variety contacted AOL for comment, a rep simply said, “We thank Dermot for...
- 9/24/2015
- by Bree Brouwer
- Tubefilter.com
Verizon Wireless is buying AOL Inc. for $4.4 billion, the companies announced Tuesday. The all-cash deal put AOL’s value at $50 a share — the company’s shares rose 18 percent before the market opened to $50.27. “Verizon’s acquisition further drives its Lte wireless video and Ott (over-the-top video) strategy,” the carrier said in a statement. “The agreement will also support and connect to Verizon’s IoT (Internet of Things) platforms, creating a growth platform from wireless to IoT for consumers and businesses.” Also Read: Verizon Eyeing Potential AOL Takeover, Joint Venture (Report) AOL CEO Tim Armstrong appeared on CNBC Tuesday, lauding the deal: “It’s really not.
- 5/12/2015
- by Jordan Chariton
- The Wrap
AOL Time Warner didn’t work. But how about AOL Verizon? The online company’s shares are up more than 18% in pre-market trading — and Verizon’s down about 1% — after the announcement of the $4.4 billion deal that could advance the telco’s online video aspirations. AOL’s properties include The Huffington Post, TechCrunch, Engadget, and AOL.com. Its CEO, Tim Armstrong, will continue to run the operation if the deal closes. No word yet on whether Verizon or AOL would have to…...
- 5/12/2015
- Deadline TV
AOL Time Warner didn’t work. But how about AOL Verizon? The online company’s shares are up more than 18% in pre-market trading — and Verizon’s down about 1% — after the announcement of the $4.4 billion deal that could advance the telco’s online video aspirations. AOL’s properties include The Huffington Post, TechCrunch, Engadget, and AOL.com. Its CEO, Tim Armstrong, will continue to run the operation if the deal closes. No word yet on whether Verizon or AOL would have to…...
- 5/12/2015
- Deadline
Much like former Fox chairman Kevin Reilly intended to bypass the TV pilot season, AOL's Dermot McCormack plans to do away with NewFront season. The president of AOL Studios and Video announced the ambitious plan at the company's NewFront presentation in New York on Tuesday evening, revealing that the company will develop shows year-round. As if to prove that point, the slate of programming that McCormack and AOL CEO Tim Armstrong touted in front of ad buyers included several series that have already launched on the online portal. They include satirical weekly live news series The HuffPost Show,
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- 4/28/2015
- by Natalie Jarvey
- The Hollywood Reporter - Movie News
Tribeca is looking to bring more to the table than just a general film festival and their latest line-up looks to be both innovating and immersive.
The line-up for the tech and innovation events includes a handful of potentially big projects from companies such as Google and AOL. The headline exhibit will be Storyscapes, the third annual complimentary showcase of interactive installations.
In addition to Storyscapes, Spring Studios will also house signature virtual reality demonstrations from Stanford University’s Virtual Human Interaction Lab, founded by Jeremy Bailenson and Worldviz LLC. They have teamed up to create Vr experiences that allow you to travel as a marine biologist to the bottom of the sea; play quarterback in a football game; and walk a mile in the shoes of someone of a gender, race, or age, other than their own.
Events will also feature Tribeca Talks: Imagination, which features panel discussions with tech thought leaders,...
The line-up for the tech and innovation events includes a handful of potentially big projects from companies such as Google and AOL. The headline exhibit will be Storyscapes, the third annual complimentary showcase of interactive installations.
In addition to Storyscapes, Spring Studios will also house signature virtual reality demonstrations from Stanford University’s Virtual Human Interaction Lab, founded by Jeremy Bailenson and Worldviz LLC. They have teamed up to create Vr experiences that allow you to travel as a marine biologist to the bottom of the sea; play quarterback in a football game; and walk a mile in the shoes of someone of a gender, race, or age, other than their own.
Events will also feature Tribeca Talks: Imagination, which features panel discussions with tech thought leaders,...
- 3/11/2015
- by Zach Dennis
- SoundOnSight
AOL has just welcomed a new face into its offices. The company tapped Dermot McCormack, former leader of Viacom Music and Logo’s Connect Content Group, to become its new President of AOL Video and Studios. In his new role, McCormack will oversee AOL On and Be On, both part of AOL Platforms. AOL On consists of 14 channels with a focus on relevant video content, and Be On is a branded content and entertainment platform. McCormack will also lead AOL Studios by overseeing the production and distribution of original programming. He’ll be based in both New York City and Beverly Hills, reporting to Tim Armstrong, AOL’s Chairman and CEO, and Bob Lord, CEO of AOL Platforms. “I have watched the evolution of AOL’s video strategy closely and have seen it develop into a thriving business poised to break out. I am delighted to be joining AOL now...
- 10/7/2014
- by Bree Brouwer
- Tubefilter.com
The stocks of Yahoo and AOL rose Friday after activist investor Starboard Value urged Yahoo to consider a combination with AOL. The firm said in an open letter that it currently owns a "significant" stake in Yahoo, led by CEO Marissa Mayer, after previously failing in an attempt to push for changes at AOL, helmed by CEO Tim Armstrong. Starboard said a combination of the two online firms would create synergies and chided Yahoo for its recent acquisitions. At the end of trading, AOL shares had risen 3.7 percent at $44.55. Yahoo's stock was up 4.4 percent
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- 9/26/2014
- by Georg Szalai
- The Hollywood Reporter - Movie News
The stock is down 24% in midday trading to its lowest point since October after the company reported weaker than expected Q1 sales for display and search ads and took several charges that startled investors. Net income at $9.3M was down 64.1% vs the period last year on revenues of $583.3M, +8.4%. The top line beat forecasts for $577.7M. But with a $12M restructuring charge and a $10M asset impairment charge tied to software development earnings came in at 11 cents a share, well below the 45 cents that analysts expected. The writedown included Patch, the ailing local news service it has contributed to a joint venture. In addition to the major surprises, many investors were chilled by a 3% year-over-year drop in global display ads, which had improved in Q4, and 1% decline in global search. CEO Tim Armstrong looked on the bright side saying that this was the fifth consecutive quarter of growth in several...
- 5/7/2014
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
AOL on Wednesday reported improved first-quarter revenue, but lower earnings. The online company, led by CEO Tim Armstrong, said its earnings amounted to $9.3 million, compared to $25.9 million in the year-ago period, down 64 percent. The company said charges worth $22 million tied to software development costs dragged down the earnings. Revenue rose 8 percent to $583.3 million, while advertising revenue climbed 16 percent. The company has been turning around its business, partly with the help of new content initiatives. Said Armstrong: "The first quarter marks the fifth consecutive quarter of
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- 5/7/2014
- by Georg Szalai
- The Hollywood Reporter - Movie News
CEO Tim Armstrong told about 2,000 advertisers at his company’s Newfront presentation today that AOL decided to hold its presentation in the Brooklyn Navy Yard — near the Brooklyn Bridge — to make a point about bridging the gap between TV and digital video. But the unseasonably cold rain left staffers trying to make the best of a bad situation as they huddled annoyed young ad buyers into ferry boats and then into an overpacked warehouse to see brief presentations about AOL’s original programming. “We need to be scouts, curators, wide open to talent … on every platform the tech world is dreaming up,” AOL Brand Group CEO Susan Lyne — formerly President of ABC Entertainment — told the crowd. But the event was filled with familiar personalities including actress Zoe Saldana (her show, My Hero, has celebs visiting people who influenced them), Kevin Nealon (professional comics interact with kids in Kevin Nealon’s...
- 4/30/2014
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
AOL is turning up the dial on video content. The New York tech firm led by Tim Armstrong has launched a premium video experience on its homepage, featuring original and curated content. "As we saw video growing, we wanted to do a better job of putting premium, original video content front and center for the AOL.com user," says Maureen Sullivan, president of AOL.com and lifestyle brands. This video portal features clips from AOL's owned and operated brands, such as Moviefone and Huffpost Live. It also expands on video-on-demand service AOL On. Partners for that
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- 4/15/2014
- by Natalie Jarvey
- The Hollywood Reporter - Movie News
Get ready for more Nicole Richie and Sarah Jessica Parker, AOL viewers. AOL has renewed four of its original web series for the company's AOL On Network premium video platform, including Richie's “#CandidlyNicole” and “city.ballet.,” which hails from executive producer Sarah Jessica Parker (“Sex and the City”). Also read: ‘Distressed Baby’ Mom Fires Back at AOL Chief Tim Armstrong The network has also given second seasons to “Hardwired 2.0,” which features digital influencer Justin Ezarik (also known as “iJustine”) exploring hot tech trends, and “The Future Starts Here,” which looks at what it means to be human in an increasingly-connected world.
- 4/7/2014
- by Tim Kenneally
- The Wrap
As America Online CEO Tim Armstrong weathers the blowback for his comments blaming benefits cuts on two "distressed babies that were born," the mother of one of those babies is speaking out. Deanna Fei followed up her scorching Slate commentary on Armstrong and the birth of her daughter with her first televised interview Sunday night, on NBC Nightly News, and while she says she's accepted an apology from Armstrong, Fei wants the "national conversation" about health care costs to continue.
- 2/10/2014
- by Tommy Christopher
- Mediaite - TV
One day after America Online chief executive Tim Armstrong reversed controversial changes in AOL’s benefits plan, the mother of one of the “distressed babies” he cited as the reason for the initial switch has fired back. Armstrong’s comments implied that “the saving of her life was an extravagant option, an oversize burden on the company bottom line,” wrote Deanna Fei wrote in an essay posted Sunday on Slate. “I take issue with how he reduced my daughter to a ‘distressed baby’ who cost the company too much money,” Deanna Fei wrote. “How he blamed the saving of her life for his decision.
- 2/9/2014
- by Todd Cunningham
- The Wrap
AOL CEO Tim Armstrong came under fire by outraged employees after he singled out the sick babies of two women at the company for increasing the cost of health benefits. Armstrong explained that the sick babies forced AOL to dole out millions in medical expenses on a company-wide conference call. Armstrong’s controversial comments followed his explanation on CNBC why he was making changes to the company’s 401(k) program. “As a CEO and as a management team, we had to decide, do we pass the $7.1 million of Obamacare costs to our employees?” Armstrong said “Or do we try to eat.
- 2/7/2014
- by James Crugnale
- The Wrap
The stock is up pre-market as investors relish the encouraging news about AOL’s improving ad sales, and discount the earnings disappointment due to known factors. The company reported Q4 net income of $35.5M, basically flat with the previous year, on revenues of $679M, +13.3%. The revenue number was well ahead of the $655.8B that analysts expected. Earnings at 43 cents a share appeared to miss the Street’s target of 60 cents– although the company says it was a beat if you add back 21 cents for one-time costs. AOL took a $13.2M restructuring charge, mostly for layoffs at the Patch local news service which it recently off loaded. Traffic acquisition costs also rose with the inclusion of Adap.tv, which AOL bought in September. But overall ad sales improved 23% to $507M helped by a 63% gain, to $223.6M, in Third Party Network transactions. Global Display ads rose 7% to $181.7M but Global Search fell 2% to $101.7M.
- 2/6/2014
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
Turnaround company Hale Global will operate and own a majority stake of Patch, or at least what’s left of AOL chief Tim Armstrong’s dream to create a powerful network of local news Web sites. The companies say that they are “committed to re-launching Patch.” But instead of depending on journalists for news it will become “an efficient platform that allows citizens and businesses to create and share locally-themed news and content.” Patch consists of more than 900 sites and serves more than 16M people a month. Hale CEO Charles Hale says that the partners will take “the necessary steps to ensure Patch remains a vibrant part of the community.” What does that mean? Here comes the AOL jargon: It says strategies include “Technology solutions to make community participation seamless; Mobile-first experience with social integration; National, regional, and local advertising self-service tools; [and] Geo-targeted advertising products.” The companies wouldn’t disclose...
- 1/15/2014
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
AOL Inc reported higher-than-expected third-quarter revenue on increased advertising sales, but earnings fell sharply because of challenges at its network of community news websites known as Patch. The digital media and entertainment company said on Tuesday it took a pre-tax restructuring charge of $19 million and an impairment charge of $25 million, both related to Patch, sending operating income down 61 percent to $16.7 million. Chief Executive Tim Armstrong made a big bet on Patch, spending more than $150 million on the network of local news sites dotting communities throughout the United States. But in recent quarters AOL has retreated, making...
- 11/5/2013
- by Reuters
- The Wrap
Optimists and pessimists will find evidence to justify their views of AOL in this morning’s earnings release. Net income attributable to AOL at $2.M, is down 90.4% vs the period last year as the company took a $25.M impairment charge on its beleaguered Patch local news web operation plus a $19M restructuring charge. But revenues at $561.3M are up 5.6%. The top line soundly beat expectations for $548.8M. Earnings per share were reported at 2 cents, but likely beat the Street’s prediction of 35 cents once you factor out one-time charges which the company says amounted to 53 cents. While there’s a lot of noise in the report, some of the fundamental numbers look Ok. Global ad sales were up 13.5% to $386.M helped by growth in sales from video. Display ads were +5% due to price increases while search was +3% which the company attributes to an increase in revenue per search. Per usual,...
- 11/5/2013
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
The layoffs AOL CEO Tim Armstrong promised began Friday, with an estimated 500 staffers -- nearly half of Patch's workforce -- losing their jobs as AOL cuts unprofitable sites from its money-losing hyperlocal news service. AOL didn't give specific numbers, but told TheWrap it is "taking steps to move to profitability" and "there are sites that we will be consolidating or closing." "The people leaving Patch have played a significant role in making Patch an integral part of the communities it serves – and we thank them for their hard work and passion,"...
- 8/16/2013
- by Sara Morrison
- The Wrap
After four days of media blowback, AOL chief executive Tim Armstrong might be regretting his decision to angrily fire a worker during a conference call with 1,000 employees on Friday. While not one of the CEO’s finest moments, at least he’s not alone when it comes to bizarre conference-call behavior that has sometimes resulted in criticism heaped on executives. Here are a few examples: Enron, April 2001 After Wall Street analyst Richard Grubman had the temerity to note that Enron took the unusual step of failing to release balance sheets along with earnings statements, COO Jeffrey Skilling replied:
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- 8/14/2013
- by Paul Bond
- The Hollywood Reporter - Movie News
AOL chief executive Tim Armstrong told employees he made a "mistake" in firing an employee during a conference call Friday, audio of which has been heard online by nearly 1 million people and counting. In an e-mail to AOL employees obtained by The Hollywood Reporter, Armstrong wrote, "It was an emotional response at the start of a difficult discussion dealing with many people's careers and livelihoods." Photos: Hollywood's Memorable Mea Culpas Armstrong was speaking to 1,000 employees of Patch, an AOL-owned local news network, when he hastily fired Abel Lenz, the service's creative director, because he
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- 8/13/2013
- by Paul Bond
- The Hollywood Reporter - Movie News
Tim Armstrong has finally responded to the criticism surrounding his rather public dismissal of Patch creative director Abel Lenz during a company conference call on Friday. Lenz was taking photos of the call while Armstrong told Patch employees that AOL planned to close down many of Patch's unprofitable sites and begin layoffs. Armstrong suddenly turned to Lenz and said "Abel, put that camera down. You're fired. Out." By Monday, Lenz's LinkedIn profile had been changed to reflect that he no longer worked at AOL. Also read: Yes, AOL CEO Tim Armstrong Fired Patch's...
- 8/13/2013
- by Sara Morrison
- The Wrap
Abel Lenz might not be talking to reporters on Twitter, but his LinkedIn profile speaks for itself: the man AOL CEO Tim Armstrong fired during a conference call for taking pictures no longer works at Patch. Lenz, whose Twitter timeline indicates that he is a frequent photo-taker, was acting as the Patch conference call's amateur photographer. Two minutes in, Armstrong can be heard saying, in front of the 1,000 people (including Jim Romenesko, oops!) listening in: "Abel, put that camera down." Followed by: "You're fired. Out." Also read: AOL Patch's Layoff Spree...
- 8/12/2013
- by Sara Morrison
- The Wrap
The ax may have finally fallen at Patch, AOL's profit-challenged network of hyperlocal news sites. It just wasn't as expected. During Wednesday's earnings call, AOL CEO Tim Armstrong said the unprofitable Patches would be cut loose. It was generally understood that this would result in hundreds of layoffs, with Jim Romenesko reporting that the layoffs would happen on Friday. That wasn't quite accurate. Armstrong informed employees on a conference call Friday morning that site closures and layoffs would begin next week. But there was one immediate cutback, according to Romanesko: a staffer who tried to take a...
- 8/9/2013
- by Sara Morrison
- The Wrap
Tim Armstrong told analysts on Wednesday that AOL $405 million investment in Adap.tv is as much about people as it is about profits. "Our ability to get very very talented people here is really the reason that we did the Adap.tv purchase...what drives good ideas and good technology are the people," Armstrong explained. The AOL CEO and chairman said that the company will not buy companies unless their leadership teams agree to remain on board. In the case of the San Mateo, Calif. based digital advertising service that team includes Adap.tv CEO...
- 8/7/2013
- by Brent Lang
- The Wrap
AOL on Wednesday said it has agreed to acquire online video advertising company Adap.tv, whose software matches advertising buyers and sellers, for $405 million, its biggest deal under its current management team. It also reported improved second-quarter revenue and underlying earnings. The online company, led by chairman and CEO Tim Armstrong, said its quarterly earnings amounted to $28.5 million, compared with $970.8 million in the year-ago period. The comparison was impacted by a $1 billion patent deal with Microsoft in the year-ago period, which had boosted earnings in the second quarter of 2012 by
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- 8/7/2013
- by Georg Szalai
- The Hollywood Reporter - Movie News
AOL and other web video providers showed with their NewFront presentations — timed to coincide with the TV networks’ upfronts in May — that they’re serious about trying to siphon ad dollars that typically go to broadcast and cable networks. Now AOL’s Tim Armstrong says he wants to take the next step by introducing the AOL Networks Programmatic Upfront on September 23, designed to become an annual event. The term “programmatic” refers to display ads that companies including Google and Yahoo sell in auctions, typically handled just by computers. The problem: “The online advertising industry has created a fear and chaos-based environment filled with hundreds of small companies each pitching highly technical necessities” for advertisers to reach audiences, Armstrong says in a blog post this morning. “They can’t shift their budgets from TV until we — as an industry — demonstrate the true power of digital to unlock creativity.” AOL’s “Programmatic...
- 7/24/2013
- by DAVID LIEBERMAN, Financial Editor
- Deadline TV
You've got a new CEO, AOL Networks. Bob Lord has joined AOL Networks as its new CEO, AOL said Friday. Lord, who will take over the post Aug. 1, was most recently the Global CEO of interactive agency Razorfish and CEO of Razorfish parent company Publicis Groupe's digital technologies division. He replaces Ned Brody, who left AOL Networks in April. Networks "enables the world's top marketers and media brands to reach consumers across desktop, mobile, table and connected TVs," according to the company. Reporting to AOL Chairman and CEO Tim Armstrong, Lord will oversee all...
- 7/19/2013
- by Tim Kenneally
- The Wrap
New York–(Business Wire)–AOL Inc. (NYSE:aol) today announced that Bob Lord is joining the company as CEO of AOL Networks, effective August 1. Lord most recently was Global CEO of Razorfish and CEO of Publicis Groupe’s Digital Technologies Division. Lord will oversee all aspects of AOL Networks, AOL’s flagship technology stack that services more than 22,000 publishers and 4,000 advertiser and agency clients. Lord will be based in New York City, report to AOL Chairman and CEO, Tim Armstrong, and be a member of the AOL corporate leadership team. “Bob is clearly one of the most impressive executives in our industry,” said Armstrong. “He’s been a digital marketing and technology leader for nearly two decades and has worked with some of the world’s most renowned agencies and brands throughout his career. He has a proven track record of driving innovation within an organization. I know Bob will bring...
- 7/19/2013
- by THE DEADLINE TEAM
- Deadline TV
Internet company AOL on Wednesday reported higher first-quarter financials amid its return to growth in global display advertising revenue. The company, led by chairman and CEO Tim Armstrong, reported "growth in all advertising revenue lines for the first time in five years." Photos: Leslie Moonves, David Zaslav, Robert Iger: 10 Highly-Paid Entertainment CEOs First-quarter earnings rose 23 percent to $25.9 million, coming in slightly below Wall Street expectations. Revenue rose 2 percent to $538.3 million, beating analysts' forecasts. Ad revenue rose 9 percent, with display ad revenue up 8 percent, and display ads up
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- 5/8/2013
- by Georg Szalai
- The Hollywood Reporter - Movie News
A lot of people in the corporate communications community were eager to see who would win this high-profile gig. Peter Land will be an Svp, reporting to AOL chief Tim Armstrong in New York. The CEO says Land will “develop and oversee AOL’s global external and internal corporate communications strategies” and “work in concert with our investor relations, government affairs and public policy groups.” Land’s PR team at Pepsi won the Public Relations Society of America’s 2011 Public Relations Professional of the Year award for a project that encouraged people to offer ideas to enhance their communities that the company then helped to fund. Before joining Pepsi, Land worked at Edelman, the NBA, and Kraft Foods.
- 4/11/2013
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
AOL chairman and CEO Tim Armstrong's 2012 compensation rose sharply to $12.07 million, up from $3.22 million in 2011. It came in below his 2010 compensation of $15.3 million though. Story: AOL CEO Tim Armstrong's Employment Contract Extended Through March 2016 His latest annual compensation, disclosed in a regulatory filing on Wednesday, included nearly $2.8 million in stock awards, nearly $5.1 million in option awards and a $500,000 bonus. He hadn't received any such awards or a bonus in 2011. Armstrong's salary stayed unchanged at $1 million. The bonus "reflects a special individual performance
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- 3/20/2013
- by Georg Szalai
- The Hollywood Reporter - Movie News
AOL chairman and CEO Tim Armstrong on Thursday said that the online company was unlikely to make a play for the Time Inc. publishing business when former AOL owner Time Warner spins it off into a standalone company. "I am a massive believer in brands," and "the Time Inc. brand portfolio is very valuable overall," he said during an appearance at The Paley Center for Media in New York. But he highlighted that Time Inc. is more valuable than AOL, meaning that "for us to do a transaction would be challenging...It's hard to do" AOL's Wednesday stock
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- 3/7/2013
- by Georg Szalai
- The Hollywood Reporter - Movie News
"We just picked up another game-changing player." That is how AOL chairman and CEO Tim Armstrong on Monday described the addition last week of former ABC Entertainment and Martha Stewart Living Omnimedia Susan Lyne to his executive team as CEO of the online company's content brands other than Huffington Post. Speaking at the Deutsche Bank 2013 Media, Internet & Telecom Conference in Palm Beach, Fla., he said that as AOL's largest individual shareholder, he sleeps well at night knowing Lyne is in charge. After all, she is one of about 10-20 people in the world "who have
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- 3/4/2013
- by Georg Szalai
- The Hollywood Reporter - Movie News
Jamie T has recorded the backing vocals for a new version of the Rancid track 'Wrongful Suspicion'. This joint single with Tim Armstrong of the Us punk band is Jamie T's first song feature since 2010. At the bottom of the music video, a note reads: "When we were in London, we asked our good friend Jamie T to be our guest on this version of 'Wrongful Suspicion'. It's always fun being with Jamie, and playing music together - whenever we are lucky enough, and the planets decide to line up." Jamie T was (more)...
- 12/20/2012
- by By Charlotte Grant-West
- Digital Spy
The Huffington Post has named AOL executive Jimmy Maymann CEO, the site announced Thursday morning. Maymann, formerly AOL's senior vice president of international, will report to founder Arianna Huffington, the media group's president and editor-in-chief. The promotion is effective immediately. The actual title is a new one. Tim Armstrong remains chairman and CEO of AOL, which owns Huffington Post. Huffington will continue to oversee the site. "The position of CEO is new for the Huffington Post since the acquisition," a spokeswoman for the company told TheWrap. "We are moving to a standalone...
- 12/6/2012
- by Alexander C. Kaufman
- The Wrap
The stock is up about 7% in early trading. AOL reported net income of $20.7M, up from a $2.6M loss in the quarter last year, on revenues of $531.7M, unchanged. That’s a bit of a surprise: Analysts expected revenues to slip to $521.6M. Earnings per share of 22 cents also beat the consensus forecast of 17 cents. The company says that global ad sales were up 7% to $248.2M, although domestic display was down 3% to $122.5M. AOL crows that traffic at its Patch local news service was up 19% in September vs the same month last year to 11.9M unique visitors. In addition it says that the AOL On Network “grew rapidly” and is now the No. 2 video network by views. Subscriptions to its mostly dial-up Internet service continued to fall, but the 10% revenue decline, to $173.5M, was an improvement vs last year when revenues dropped 22% in the quarter. “We just reported the best...
- 11/6/2012
- by DAVID LIEBERMAN, Executive Editor
- Deadline TV
Online company AOL on Tuesday said it swung to a third-quarter profit as it continued to make financial progress. The company, led by chairman and CEO Tim Armstrong, posted earnings of $20.8 million, compared with a loss of $2.6 million in the year-ago period. Revenue was unchanged at $531.7 million. Global advertising revenue rose 7 percent - with 18 percent growth in international markets outperforming a 3 percent U.S. decline, offset by a 10 percent decline in subscription revenue. The company said overall that meant its best year-over-year revenue performance in more than
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- 11/6/2012
- by Georg Szalai
- The Hollywood Reporter - Movie News
AOL said Wednesday it has appointed Karen Dykstra as its CFO. Dykstra, who has been a member of AOL's board of directors for nearly three years, replaces Artie Minson, who became the company's COO in June. With her CFO appointment, she'll resign from the board. AOL said Pesico CFO Hugh Johnston was elected as a new board member, and CEO Tim Armstrong said at the Goldman Sachs Communacopia conference in New York that AOL seeks two more directors. Dykstra is based in New York and reports to Armstrong. "My team is in place, the company is returning to growth, and
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- 9/19/2012
- by Paul Bond
- The Hollywood Reporter - Movie News
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