AOL, US internet major, has acquired two local online media companies Patch Media Corp. and Going Inc. The move is seen as part of a wider approach to build the company's position in the relatively fast-growing local online advertising market.
According to the market analysts, the purchase of two online media companies for less than $10 million each will facilitate AOL's reach deeper into the local market.

The acquisitions came at such a time, when Time Warner moves to split off AOL into an independent company.
AOL Chief Executive Tim Armstrong is putting efforts to restructure the company.
Patch Media Corp. operates in the field of Web sites to help local communities publish news and information.

It may be noted here that, in 2001, at a time when AOL's chief business was its dial-up Internet access service, AOL was purchased by media company Time Warner.
But as consumers started moving to the faster Web-surfing, the AOL's business plummeted.
To make the situation worse, recession also played its part.