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IAC Inc. announced plans to spin off its entire stake in Angi Inc., a platform connecting consumers to home service professionals. The tax-free spinoff is expected to close in the first half of 2025, with a target date no earlier than March 31. Following the spinoff, CEO Joey Levin will step down and transition to the role of executive chairman at Angi. Barry Diller, who has returned as CEO of IAC, is believed to be exploring future acquisition opportunities. The announcement has led to a notable increase in IAC's stock price, reflecting investor optimism about the restructuring.
Billionaire Barry Maloney is set to testify over his shareholder dispute with a private equity giant after the start of the London trial of his claim that it blocked him from forcing it out of its stake in a major software company to make him buy it out. https://t.co/gQAWyXD0Hp
Barry Diller's IAC Inc. is spinning off Angi Inc, which connects thousands of consumers to home remodelers, cleaners, landscapers and other professionals. https://t.co/yARHb1QsoZ
Barry's back via @axios Note - Diller is a member of @MGMResortsIntl board. "IAC is the largest shareholder of MGM. It grew its ownership from 14% two years ago to nearly 20%." background via @TheNVIndy https://t.co/Abfl16eyKC https://t.co/AtnGeXC5r9 #axiosmediatrends
