- "As many know from our actions over the last 20 years, I'm not a believer in simply agglomerating assets in perpetuity," says IAC (IACI) Chairman Barry Diller. "I've long felt that as entities grow into size and maturity it's healthy to give them separation and independence from a mother church."
- Alongside the plan to pursue an IPO of The Match Group, Joey Levin - formerly CEO of IAC's Search & Applications business - has bee named CEO of IAC and joined the board. CFO Jeff Kip is exiting the company. Greg Blatt will remain chairman and Sam Yagen CEO of the Match Group.
- IAC expects The Match Group to issue less than 20% of its common stock in the IPO. Completion time is expected during Q4.
- Source: Press Release
- IACI +7.7% premarket
- Previously: IAC/InterActiveCorp +6% on report of Match.com IPO (June 25)