After years of struggles to make it a viable business, AOL is giving control of its Patch network of local news sites to turnaround firm Hale Global, which will operate the sites with AOL as a minority partner.
For more details from Re/code, click here.
—By Peter Kafka, recode.net.
CNBC's parent NBC Universal is an investor in re/code's parent Revere Digital, and the companies have a content-sharing arrangement.
