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  "documentTitle": "Starboard Value | Activist Presentation Deck | 96 slides",
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  "authorName": "Starboard Value",
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  "presentationDate": "2012-05-01 00:00:00",
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  "notes": "Uses a CEO quote to frame the guidance as insufficient.",
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      "kind": "legend",
      "text": "Operating Loss - Base Case Expenses (132.6) (122.6) Operating Loss - Low Case Expenses (88.5) (78.5)",
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      "text": "At a revenue run rate of $40-50 million per year, we estimate that Patch would still lose approximately $79 million to $133 million per year.",
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      "text": "I hope we can get over $40 million this year in Patch.",
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      "text": "(1) Starboard Value estimates assume $40-50 million of revenue in 2012 per company guidance on Q1 2012 conference call on May 9, 2012.",
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      "text": "Patch P&L at $40-50 Million of Revenue",
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      "text": "AOL's recently issued revenue guidance of $40-50 million per year in Patch is not satisfactory",
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