IAC Inc. is an American holding company that owns brands throughout a hundred nations, principally in media and Internet. IAC was established in 1986 as Silver King Broadcasting Company, as a part of a plan to increase viewership of the house Shopping Network (HSN) by purchasing local television stations. By 1988, Silver King had purchased 11 stations for about $220 million. In 1992, Silver King was spun off to HSN shareholders as a individually traded public company. In August 1995, Barry Diller acquired management of Silver King, in a deal backed by the company's largest shareholder, Liberty Media. Diller, who had led the creation of the Fox network, reportedly hoped to use Silver King's stations as the inspiration for able.extralifestudios.com a brand new broadcast community. At the identical time, the corporate acquired Savoy Pictures, a failed movie studio that owned 4 Fox affiliate stations by SF Broadcasting, for $210 million in stock. In February 1998, it acquired the television property of Universal Studios (including USA Network, Sci-Fi Channel, and Universal Television's home manufacturing and distribution arms) for $4.1 billion. This da ta was created by GSA Conte nt Generator Demover sion!
The company's title was changed to USA Networks, Inc. at this level. Continuing its acquisition strategy, dating the corporate acquired the Hotel Reservations Network in May 1999 for $149 million. USA Networks merged the web division of Ticketmaster with metropolis guide website Citysearch in September 1998, establishing a brand new firm that went public as Ticketmaster Online-CitySearch (TMCS). USA then offered Ticketmaster correct to TMCS in 2001, retaining a 61 percent share within the mixed company, which turned often called merely Ticketmaster. USA introduced Ticketmaster again below full ownership in 2003, buying all excellent shares. Within the early 2000s, USA Networks began divesting itself of its traditional tv broadcasting and production models. In May 2001, Univision Communications acquired USA Broadcasting (a division of USA Networks together with 13 native stations). The subsequent year, Vivendi bought the remainder of USA's broadcast entertainment companies, together with the USA Network and Sci-Fi Channel. This led to the creation of a brand new company named Vivendi Universal Entertainment, led by Diller.
Throughout this transition, USA Networks continued to build up its online portfolio. Connected Ventures together with CollegeHumor and get sex Vimeo. IAC's largest shareholder, Liberty Media, exited the company in 2010, following a protracted dispute over the 2008 spinoffs. On August 3, 2013, IAC bought Newsweek to the International Business Times on undisclosed terms. The incident became a byword for the necessity for people to be cautious about what they submit on social media. In 2014, IAC acquired ASKfm for an undisclosed sum. In November 2015, IAC and Match Group introduced the closing of Match Group's beforehand announced preliminary public providing. In May 2017, HomeAdvisor mixed with Angie's List, forming the brand new publicly traded company ANGI Homeservices Inc. The company made its stock market debut in October 2017. In October 2018, ANGI made its first acquisition of on-demand platform Handy. In January 2019, IAC offered Citysearch parent CityGrid to eLocal. In July 2019, IAC made its largest funding ever on the earth's largest peer-to-peer automotive sharing market, Turo.
In December 2019, IAC and Match Group entered into an agreement offering for the complete separation of Match Group from the remaining companies of IAC. In January 2020, IAC withdrew its financial backing for CollegeHumor and its sister websites and offered the web sites to Chief Creative Officer Sam Reich. Because of the restructuring, greater than a hundred employees of CollegeHumor have been laid off. In July 2020, IAC and Match Group introduced the profitable completion of the separation of Match Group from the remaining businesses of IAC. Because of the separation, Match Group's twin class voting structure was eliminated and the interest in Match Group formerly held by IAC is now held instantly by IAC's shareholders. 12% stake in MGM Resorts International. In May 2021, IAC completed the spin-off of Vimeo, the 11th firm to be spun-off from IAC. Vimeo trades on Nasdaq beneath the symbol "VMEO". In October 2021, oral IAC introduced the acquisition of Meredith Corporation's National Media Group for $2.7 billion.
Meredith (and the former Time Inc.) assets merged with IAC subsidiary Dotdash, forming a new entity referred to as Dotdash Meredith. IAC remaining a minority shareholder in Bluecrew's enterprise. IAC's companies are categorized into distinct segments for the needs of monetary reporting. Those segments are labelled by the company as Angi Inc., Dotdash Meredith, Search, and Emerging and Other. Each business listed could have a number of manufacturers related to it. In March 2021, the corporate changed its title to Angi. Form 10-K: Annual Report (Report). HSN, Inc. April 14, 1997. p. 3. Archived from the original on March 3, 2017. Retrieved August 27, 2017 - through EDGAR. Greiff, James (July 4, 1988). "Cable Tv broker has a new vision // Rick Michaels seeks rewards of risk-taking". Tampa Bay Times - via NewsBank. The Roanoke Times. December 30, 1992 - through NewsBank. The new York Times. Geraldine Fabrikant (August 26, 1995). "Return of the fox - Network creator will get Tv group".