IAC/Interactive Corp., which this week said it would split itself into five businesses (full story), is launching a comedy/news website it describes as an "up-to-the-minute topical comedic reaction to news and current events." The site, 23/6, is being managed in partnership with political website the Huffington Post. It plans to satirize news events and people in the news using funny photos, videos and articles. Other websites trying to bring comedy news to the web include Onion News Network, and Time Warner's This Just In. The site will be managed by IAC's programming division, which also manages CollegeHumor, which boasted more than two million unique monthly visitors in 2006. IAC, the Wall Street Journal writes, plans to expand its web properties as it attempts to realign itself as an ad-revenue-driven online-media company.
Commentary: IAC to Split Into Five, Stock Climbs • IAC Break-Up Rings Alarm Bells • Will IAC/Interactive's Break-Up Generate More Value?
Stocks to watch: IACI, TWX. Competitors: YHOO, VVTV
Earnings call transcript: IAC/InterActiveCorp Q3 2007
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