IAC Inc (IAC)

PEOPLE INCORPORATED PROPOSES TO ACQUIRE MGM RESORTS INTERNATIONAL FOR $48.30 PER SHARE IN CASHJune 1, 2026 9:00 AM
PR Newswire (US) NEW YORK, June 1, 2026 /PRNewswire/ -- People Incorporated, previously IAC (NASDAQ: IAC), announced today that it has submitted a non-binding proposal to the Board of Directors of MGM Resorts International (NYSE: MGM) to acquire all outstanding shares of MGM that People Incorporated does not already own for $48.30 per share in cash.  This proposal represents a premium of 24.1% to the volume-weighted average price of MGM common stock for the 30 trading days ending on May 29, 2026, a more than 30% premium to the stock's volume-weighted average price for the 90 trading days ending on the same date, and a 10.6% premium to the most recent closing price.People Incorporated today owns 26.1% of the outstanding common stock of MGM. "We began investing in MGM nearly six years ago because we believed it represented a rare kind of business: one with real world assets that AI cannot easily replicate or disintermediate and exceptional digital growth opportunities. That conviction has only strengthened over time," said Barry Diller, Chairman and Senior Executive, People Incorporated. "We continue to believe the market materially undervalues the power and durability of MGM's assets. We believe MGM's management team is superb, and that there is a compelling opportunity to support MGM's next phase of growth and help unlock its full value."Continued Mr. Diller, "I believe this transaction would deliver significant benefits to the shareholders of both companies. MGM shareholders would be given the opportunity to de-risk their investment and realize immediate, attractive value in cash for their shares. We are confident in our ability to execute on a transaction promptly with engagement from the MGM Board of Directors." People Incorporated expects to fund any transaction with a combination of existing cash on hand at People Incorporated and MGM and additional debt and equity funding commitments.  People Incorporated expects that it will own just over 50.1% of the equity of the company, with other investors (which may include existing shareholders of MGM) holding minority interests.  People Incorporated would control the MGM business.People Incorporated has submitted the below letter to the MGM Board of Directors setting forth the terms of the proposal:June 1, 2026Board of Directors
c/o Paul Salem, Chairman of the Board
          William Hornbuckle, Chief Executive Officer & President
          MGM Resorts International
3600 Las Vegas Boulevard South,
Las Vegas, Nevada 89109
Dear Members of the Board of Directors:People Incorporated (f/k/a IAC) began investing in MGM in 2020, based on our view that it represents a durable growth business not easily displaced by technology. We believe that MGM's assets and businesses are not currently realizing their full potential in the public markets and that it will be difficult to correct this situation in MGM's current form as a public company.  Accordingly, we would like to work with MGM to agree on a transaction in which our company and other investors provide MGM's public shareholders with an attractive premium in cash for their interest in MGM, and MGM would become a private company.  People Incorporated is accordingly submitting a non-binding proposal to acquire all of the outstanding shares of common stock of MGM not already owned by IAC, for 100% cash consideration of $48.30 per share.  This proposal represents a premium of 24.1% to the volume-weighted average price of MGM common stock for the 30 trading days ending on May 29, 2026, a more than 30% premium to the volume-weighted average price for the 90 trading days ending on the same date, and a 10.6% premium to the most recent closing price.People Incorporated will be a good steward for MGM's assets, given our large stake in the business today and our deep familiarity with the business.  MGM shareholders will receive attractive value for their shares, fully de-risking their investment at a compelling return. Our proposal is subject to customary conditions, including the negotiation and execution of a mutually satisfactory binding agreement.  Given our substantial knowledge of MGM, we expect that we can complete our confirmatory due diligence quickly, in parallel with negotiation of the definitive transaction agreements and finalizing required financing, and reach a prompt signing. We can deliver a highly certain transaction.  The transaction would not be subject to any financing condition, and we are confident in our ability to fund the purchase price while maintaining prudent leverage, based on existing cash on hand at People Incorporated and MGM and preliminary conversations with other potential equity investors and financing sources.  The transaction would be subject to limited competition approvals and applicable gaming regulatory approvals, and we would work closely with MGM in obtaining those approvals. We expect that People Incorporated would own just over a majority of the post-closing equity in MGM, and would have control over the business, with minority ownership by other investors (who may include some current MGM shareholders). We expect MGM's current management team would continue to lead the business and would seek to discuss suitable terms with the relevant individuals at the appropriate point in the process. We fully recognize that the MGM board will need to consider this transaction under the appropriate Delaware procedures, and of course I will recuse myself from any deliberations of the MGM Board regarding this transaction or any alternative.  We wish to confirm to you that People Incorporated has no intention to sell our existing ownership stake in MGM, or to pursue or vote in favor of any merger or other similar extraordinary transaction that would result in a change in control to another party or dilute in any meaningful respect our economic and voting interest in MGM.This letter is a non-binding expression of interest only, and People Incorporated reserves the right to withdraw or modify the proposal at any time, or to terminate discussions and negotiations at any time in our sole discretion. No legal obligation with respect to our proposal or any other matter will arise unless and until we have executed definitive transaction documentation with MGM. People Incorporated intends to promptly file an amended Schedule 13D reflecting the submission of this proposal.We are prepared to work expeditiously to agree to a definitive transaction.Sincerely,Barry DillerCautionary Statement Regarding Forward-Looking Information This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "intends," "estimates," "expects," "plans" and "believes," among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to the proposal submitted to MGM, any potential transaction that might result therefrom and the timing, terms or likelihood of completion of any such transaction, the anticipated benefits of any such transaction, and similar matters.  Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) the impact of advances in artificial intelligence ("AI") and other digital technologies, including AI-enabled search features, on how users access and consume information and the resulting effects on traffic, engagement and monetization, (ii) our reliance on search engines and third-party platforms, including changes in algorithms, policies, economics or features (including those implemented by Google), as well as the potential expiration or modification of key commercial agreements, (iii) our ability to effectively market our products and services in a cost-efficient manner across evolving digital channels, (iv) our dependence on advertising revenue and the sensitivity of such revenue to macroeconomic conditions, including factors affecting advertiser demand, consumer confidence and discretionary spending, as well as geopolitical and broader market uncertainty, (v) our ability to adapt to changes in digital marketing practices, including limitations on data access, tracking technologies and targeting capabilities, (vi) our ability to develop, distribute and monetize our products and services across mobile and other platforms and maintain effective relationships with third-party partners, (vii) the continued growth, engagement and monetization of our digital publishing brands, (viii) risks related to our Print business, including ongoing revenue declines, cost pressures (including paper and postage), and reliance on key vendors, (ix) our ability to access, collect, use and protect personal data and comply with evolving privacy and data protection laws and platform restrictions, (x) our ability to effectively engage with users, subscribers and caregivers across communication channels, (xi) the concentration of voting control among our Chairman and Senior Executive and related parties, (xii) risks related to our liquidity and indebtedness, including our ability to service debt and comply with related covenants, as well as limitations on access to subsidiary cash flows, (xiii) risks related to strategic transactions and initiatives, including our ability to realize anticipated benefits from prior transactions and execute future initiatives, (xiv) competitive pressures in rapidly evolving industries, including from larger or better-positioned competitors and AI-enabled offerings, (xv) our ability to build, maintain and protect our brands, (xvi) cybersecurity risks, including increasingly sophisticated attacks (including those enabled by AI) and vulnerabilities at third-party providers, (xvii) data security breaches, fraud and related liabilities, (xviii) risks associated with the integrity, scalability and reliability of our systems, technology and infrastructure, (xix) the impact of general economic, geopolitical and public health conditions, (xx) our dependence on key personnel and leadership transitions, (xxi) volatility in our stock price and risks related to our capital allocation strategy, (xxii) risks related to the planned corporate consolidation, (xxiii) the proposal made to MGM for a potential transaction, including whether any transaction may result from such proposal, (xxiv) the terms of any transaction which may result from the proposal made to MGM, and whether any such transaction would be completed, on the anticipated timing or terms or at all, (xxv) whether any required approvals or financing for any transaction with MGM would be obtained, (xxvi) whether any anticipated benefits of any such transaction with MGM would be realized if such a transaction were to be completed, (xxvii) any litigation that may result from any transaction or proposed transaction involving MGM, (xxviii) the effect of the announcement of the proposal to MGM on the ability of IAC and MGM to operate their respective businesses and retain and hire key personnel and to maintain favorable business relationships, and (xxix) other risks related to the proposal made to MGM and actions related thereto. Certain of these and other risks and uncertainties are described in our filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 20, 2026, and subsequent reports that we file with the SEC. Other unknown or unpredictable factors that could also adversely affect our business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.About People Incorporated People Incorporated is the owner of America's largest publisher, People Inc., home to more than 40 celebrated brands including PEOPLE, Food & Wine, Travel + Leisure, InStyle, Better Homes & Gardens, and Southern Living, attracting a total of 175 million consumers each month. The company also holds a significant minority stake in MGM Resorts International, reflecting our belief in the power and potential of businesses built around enduring consumer brands and iconic, real-world experiences. People Incorporated represents the latest evolution in a long tradition of entrepreneurial ownership, disciplined capital allocation, and opportunistic value creation. Over three decades, the company has built, operated, invested in, and spun off many of the internet and media industry's defining businesses, and that same spirit of opportunism drives us today. People Incorporated is headquartered in New York City.Contact UsPeople Incorporated Investor Relations
Mark Schneider
(212) 314-7400People Incorporated Corporate Communications
Valerie Combs
(212) 314-7251 View original content:https://www.prnewswire.com/news-releases/people-incorporated-proposes-to-acquire-mgm-resorts-international-for-48-30-per-share-in-cash-302787093.htmlSOURCE People Incorporated Original: PEOPLE INCORPORATED PROPOSES TO ACQUIRE MGM RESORTS INTERNATIONAL FOR $48.30 PER SHARE IN CASH

IAC to Participate in the 54th Annual TD Cowen Technology, Media and Telecom ConferenceMay 20, 2026 4:10 PM
PR Newswire (US) NEW YORK, May 20, 2026 /PRNewswire/ -- IAC (NASDAQ: IAC) will participate in the 54th Annual TD Cowen Technology, Media and Telecom Conference on Wednesday, May 27, 2026. Christopher Halpin, Executive Vice President, COO and CFO of IAC and Tim Quinn, CFO of People Inc. will participate in a fireside chat at 3:00 p.m. ET. Both a live audio webcast and replay of the fireside chat will be available to the public in the IR section of IAC's website at https://ir.iac.com/events-and-presentations. About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC today primarily comprises leading publisher People Inc. and its strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City. View original content:https://www.prnewswire.com/news-releases/iac-to-participate-in-the-54th-annual-td-cowen-technology-media-and-telecom-conference-302777961.htmlSOURCE IAC Original: IAC to Participate in the 54th Annual TD Cowen Technology, Media and Telecom Conference

IAC to Participate in the 2026 Annual J.P. Morgan Global Technology, Media and Communications ConferenceMay 12, 2026 4:10 PM
PR Newswire (US) NEW YORK, May 12, 2026 /PRNewswire/ -- IAC (NASDAQ: IAC) will participate in the Annual J.P. Morgan Global Technology, Media and Communications Conference on Tuesday, May 19, 2026. Christopher Halpin, Executive Vice President, COO and CFO of IAC and Tim Quinn, CFO of People Inc. will participate in a fireside chat at 2:55 p.m. ET. Both a live audio webcast and replay of the presentation will be available to the public in the IR section of IAC's website at https://ir.iac.com/events-and-presentations. About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC today primarily comprises leading publisher People Inc. and its strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City. View original content:https://www.prnewswire.com/news-releases/iac-to-participate-in-the-2026-annual-jp-morgan-global-technology-media-and-communications-conference-302769865.htmlSOURCE IAC Original: IAC to Participate in the 2026 Annual J.P. Morgan Global Technology, Media and Communications Conference

IAC Earnings Release Available on Company's WebsiteMay 4, 2026 4:10 PM
PR Newswire (US) NEW YORK, May 4, 2026 /PRNewswire/ -- IAC (NASDAQ: IAC) posted its first quarter financial results on the investor relations section of its website at https://ir.iac.com/quarterly-results. As announced previously, IAC will host a conference call to discuss the company's first quarter results and to answer questions. The call will be held on Tuesday, May 5, 2026, at 8:30 a.m. EST. Barry Diller, Chairman and Senior Executive of IAC, Christopher Halpin, Executive Vice President, COO and CFO of IAC, Neil Vogel, CEO of People Inc. and Tim Quinn, CFO of People Inc. will participate.The live audiocast and replay will be open to the public through the investor relations section of the IAC site at https://ir.iac.com/quarterly-results.About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC today primarily comprises leading publisher People Inc. and its strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.  View original content:https://www.prnewswire.com/news-releases/iac-earnings-release-available-on-companys-website-302761371.htmlSOURCE IAC Original: IAC Earnings Release Available on Company's Website

Letter from Barry Diller to IAC Shareholders: IAC Announces Name Change to People IncorporatedApril 28, 2026 8:35 AM
PR Newswire (US)

NEW YORK, April 28, 2026 /PRNewswire/ -- IAC (NASDAQ: IAC) today announced the company is changing its name to People Incorporated as it continues to sharpen its focus on its People Inc. publishing business and its investment in MGM Resorts International. The name change is expected to occur by the company's second quarter earnings in August.IAC Chairman and Senior Executive Barry Diller published a letter to shareholders today, outlining the rationale for the name change. The letter in its entirety is below.April 28, 2026Dear Shareholders,Today's news is that IAC is changing its corporate name to People Incorporated.Throughout its three decades, this company has always been opportunistic.  That's the only guidewire I've ever followed, and I believe today and tomorrow's opportunities will best be held in the corpus of this new corporate name.Some backgrounding will be helpful in explaining why.I bought into little Silver King Communications in 1995.  It had about $40 million in sales, and as it evolved over the next decades, we became HSN, then USA Networks, and finally, in 2003, IAC/InterActiveCorp, and then even more simply, IAC Inc. Those name changes were the result of our changing business model.  We began as a string of small television stations, then merged with HSN, a home shopping channel, and a few years later bought the USA Networks and Universal Television.  At HSN, we gained some expertise in ecommerce and interactive models in the primitive convergence of television screens, computers, and phones.  And then came the internet revolution in 1995 and out of that a unique business model—buying, building and creating interactive business.  Over the years, that has resulted in our owning and operating more than 200 companies and overseeing well over 100 minority investments.By then we were the definition of a conglomerate.  As we evolved, I came to believe that operating all these disparate entities wasn't the optimum method and began a process of spinning them out into their own independent companies.  Once we felt they were of sufficient size and success I thought they'd be better off on their own and sought to become a sort of anti-conglomerate, 'spinning out' 11 public entities.All this activity over these past three decades has resulted in creating over $144 billion of value at peak equity prices.  In the last few years, ecommerce and interactivity valuations soared, new opportunities became fewer, and we began to scale down our acquisition activities to concentrate on the one sector we felt had the most potential in such a fast changing environment, that of the publishing businesses we'd built and acquired over the last 14 years.  It was, as usual for us, a contrarian move but as I outline below, a most successful one.As all sorts of potential disintermediation loomed in media and ecommerce we also began to search for businesses that couldn't be disintermediated.  Out of that process we began to accumulate shares in MGM Resorts, believing that there was no technology that was going to displace a customer from going to Las Vegas or any of MGM's other physical properties.  Our original 12% stake in MGM has now grown to 26%.  MGM Resorts is an extraordinary operation powered by a compelling mix of iconic resort destinations, scalable digital platforms, premium brands, an expanding global presence, and, under its CEO Bill Hornbuckle, an outstanding management team.  MGM owns 40% of the Las Vegas Strip—an entertainment nucleus that simply cannot be replicated anywhere in the world.  MGM's leadership position in Macau remains the envy of the industry, and its mega resort abuilding in Japan is a giant future opportunity.  Its digital businesses are growing profitably, and its stock continues to be wildly undervalued.Our major continuing operating business is now our publishing operations.  We are unlike most publishers in that we began as a native digital publisher and spent a decade developing the expertise to grow into a thriving digital business anchored online.  We were leaning into digital publishing with all our might when our competitors were downsizing their operations because of that digital disruption.  In late 2021, we then acquired Meredith.  The earlier combination of Meredith and Time Inc. boasted 30+ brands such as the iconic PEOPLE, Food + Wine, Southern Living, and Travel & Leisure, all of which had incredible heritage but lacked digital reach.  We brought our digital expertise to Meredith's brands, aiming to modernize these iconic assets and unlock their true potential. We are now some years into that process, and the results have been excellent.  As against most publishers, we are thriving. The first quarter of 2026 represents our 10th straight quarter of digital revenue growth, our EBITDA margins remain strong, and our audiences are growing rapidly across so many platforms, including social channels, Apple News, and our own live events.We have succeeded by leveraging our knowledge and experience from across the breadth of IAC's digital businesses and applying them to People, trying new things, not being captive to old models or a legacy approach and not being dependent on others who could disrupt our business.We've built our own extremely effective AI ad targeting product based on our first party data named D/Cipher.We recognized the coming reality of zero search traffic years ago, successfully transitioning out of depending upon search engines for our traffic to create our own ecosystem which has resulted in a broad diversity in audience sources.We have also begun a process called INVERSION, which to us means taking each of our properties and their intellectual capital and turning them into opportunities to play a direct role in creating new products and services that we own directly, rather than the traditional publishing model of licensing brands.  We have literally 19 separate initiatives operating now that are exclusive of the traditional publishing model.  I intend for us to be the principal, rather than the licensor, wherever we can in the products and services that will be birthed out of our enormous reservoir of content. I do believe we have an unlimited opportunity to build a unique new day publishing model that has no equal in its ability to grow into a large enterprise.  Under Neil Vogel's leadership, People's outstanding editorial and business staff and 3,500 employees, we deliver the most diversified expertise across our 40+ brands and the six 'books' we continue to publish in print.  And publish, in the old sense we still do, and profitably, to the tune of shipping 250 million magazines a year.So, there we are and that's why we're changing IAC's name to People Incorporated. We're transitioning the necessary staff of IAC into the corpus of People.  That will significantly reduce our overhead as we concentrate on our two assets: People publishing and our holdings in MGM Resorts.As for me, I plan to continue to do what I have done here for years as Chairman and Senior Executive—be an advisor, instigator, stimulus, and sometimes irritant to the process.  I will also continue to oversee our MGM investment.  We have an excellent balance sheet with plenty of cash to pursue opportunities.  It's possible we'll find new arenas, that's always an option, but for now we'll concentrate on the two we have in front of us.  Each cycle over the last 30 years, we downsized to a smaller company—I like that.  It gives us room and energy to be agile and opportunistic.The corpus of People Incorporated will include the assets of a mostly virtual media business together with the very hard assets of MGM Resorts—if you like, a perfect hedge in a world that is changing so unpredictively fast.   We've gone through four cycles since our founding more than 30 years ago, each one seeing opportunity in the dark.  I can't tell you where the next journey will take us but can say with confidence that the base from which we start is square on solid, and…from there…we will proceed.I'd say THANK YOU FOR YOUR ATTENTION TO THIS MATTER, but that would be more than presumptuous.Barry DillerAbout IACIAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC is today primarily comprised of leading publisher People Inc. and its strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.Cautionary Statement Regarding Forward-Looking InformationThis press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "intends," "expects," "plans" and "believes," among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to: the planned corporate name change and consolidation, the expected reduction in overhead and related cost savings, the continued growth of our digital publishing business and expansion of our audience across platforms, the value and growth potential of our investment in MGM Resorts, our ability to develop, own and monetize new products and services derived from our content and intellectual property, our ability to identify and pursue new business opportunities and other similar matters. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) the impact of advances in artificial intelligence ("AI") and other digital technologies, including AI-enabled search features, on how users access and consume information and the resulting effects on traffic, engagement and monetization, (ii) our reliance on search engines and third-party platforms, including changes in algorithms, policies, economics or features (including those implemented by Google), as well as the potential expiration or modification of key commercial agreements, (iii) our ability to effectively market our products and services in a cost-efficient manner across evolving digital channels, (iv) our dependence on advertising revenue and the sensitivity of such revenue to macroeconomic conditions, including factors affecting advertiser demand, consumer confidence and discretionary spending, as well as geopolitical and broader market uncertainty, (v) our ability to adapt to changes in digital marketing practices, including limitations on data access, tracking technologies and targeting capabilities, (vi) our ability to develop, distribute and monetize our products and services across mobile and other platforms and maintain effective relationships with third-party partners, (vii) the continued growth, engagement and monetization of our digital publishing brands, (viii) risks related to our Print business, including ongoing revenue declines, cost pressures (including paper and postage), and reliance on key vendors, (ix) our ability to access, collect, use and protect personal data and comply with evolving privacy and data protection laws and platform restrictions, (x) our ability to effectively engage with users, subscribers and caregivers across communication channels, (xi) the concentration of voting control among our Chairman and Senior Executive and related parties, (xii) risks related to our liquidity and indebtedness, including our ability to service debt and comply with related covenants, as well as limitations on access to subsidiary cash flows, (xiii) risks related to strategic transactions and initiatives, including our ability to realize anticipated benefits from prior transactions and execute future initiatives, (xiv) competitive pressures in rapidly evolving industries, including from larger or better-positioned competitors and AI-enabled offerings, (xv) our ability to build, maintain and protect our brands, (xvi) cybersecurity risks, including increasingly sophisticated attacks (including those enabled by AI) and vulnerabilities at third-party providers, (xvii) data security breaches, fraud and related liabilities, (xviii) risks associated with the integrity, scalability and reliability of our systems, technology and infrastructure, (xix) the impact of general economic, geopolitical and public health conditions, (xx) our dependence on key personnel and leadership transitions, (xxi) volatility in our stock price and risks related to our capital allocation strategy and (xxii) risks related to the planned corporate consolidation. Certain of these and other risks and uncertainties are described in our filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 20, 2026, and subsequent reports that we file with the SEC. Other unknown or unpredictable factors that could also adversely affect our business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.Contact UsIAC Investor Relations
Mark Schneider
(212) 314-7400IAC Corporate Communications
Valerie Combs
(212) 314-7251



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Original: Letter from Barry Diller to IAC Shareholders: IAC Announces Name Change to People Incorporated

IAC TO HOST Q1 2026 EARNINGS CONFERENCE CALL ON MAY 5thApril 14, 2026 4:10 PM
PR Newswire (US)

NEW YORK, April 14, 2026 /PRNewswire/ -- On Tuesday, May 5, 2026, at 8:30 a.m. EST, IAC (NASDAQ: IAC) will host a conference call to answer questions regarding the company's first quarter results. Barry Diller, Chairman and Senior Executive of IAC, Christopher Halpin, Executive Vice President, COO and CFO of IAC and Neil Vogel, CEO of People Inc. will participate.The live audiocast and replay will be open to the public through the investor relations section of the IAC site at https://ir.iac.com/quarterly-results.About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC is today primarily comprised of leading publisher People Inc. and its strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.



View original content:https://www.prnewswire.com/news-releases/iac-to-host-q1-2026-earnings-conference-call-on-may-5th-302742178.htmlSOURCE IAC

Original: IAC TO HOST Q1 2026 EARNINGS CONFERENCE CALL ON MAY 5th

Pacific Avenue Capital Partners to Acquire IAC's Care.comMarch 2, 2026 4:30 PM
PR Newswire (US)

IAC streamlines portfolio, unlocks value from non-core assetsAffiliate of global private equity firm to oversee Care.com's next chapterNEW YORK, March 2, 2026 /PRNewswire/ -- Today IAC (NASDAQ: IAC) announced it has entered into a definitive agreement with an affiliate of Pacific Avenue Capital Partners ("Pacific Avenue"), a global private equity firm specializing in corporate carve-outs in the middle market, in which the affiliate would acquire Care.com, one of the largest online marketplaces for finding family care and care jobs and wholly owned subsidiary of IAC, pursuant to which Pacific Avenue has agreed to purchase all of the issued and outstanding shares of Care.com, Inc. capital stock in an all cash transaction with a gross purchase price of approximately $320 million. The transaction is expected to close in the first half of 2026."We've been clear on our plan to sharpen IAC's strategic focus on People Inc. and our MGM stake, while opportunistically monetizing non-core holdings to simplify our portfolio and enhance financial flexibility," said Christopher Halpin, Executive Vice President, COO and CFO of IAC.Acquired by IAC in 2020, Care.com is a leading platform and brand in the growing $400 billion market for family care. It is anchored by the largest online network of background-checked child and senior caregivers in the U.S and partnerships with over 700 employers to provide care solutions to their employees through Care.com. Under IAC, the company renewed its brand, overhauled its technology and transformed its product experience across Consumer and Enterprise, while expanding its presence in high-demand verticals such as senior care, pet care, and housekeeping, and significantly enhancing platform trust and safety."Care.com is an industry leader with a brand built on trust, a strong reputation, and a proven leadership team. Care.com has a clear path for growth as an independent, standalone company," said Chris Sznewajs, Founder and Managing Partner of Pacific Avenue. "This transaction aligns perfectly with Pacific Avenue's track record of executing corporate carve-outs to acquire market-leading businesses and partnering with leadership teams to elevate performance. We're excited to work with Brad, Michelle, and the Care.com team to unlock the company's full potential in serving families, caregivers, and its enterprise partners.""Care.com is entering its next chapter from a strong position of profitability and strength, and we're excited to partner with Pacific Avenue to accelerate this momentum," said Brad Wilson, CEO of Care.com. "Their dedicated investment and operating expertise will allow us to move faster — particularly in scaling our enterprise offerings — while continuing to invest deeply in our platform and deliver even greater value to families and caregivers."The transaction is subject to customary closing conditions and is expected to be completed in the first half of 2026.AdvisorsJ.P. Morgan Securities LLC acted as exclusive financial advisor to IAC and Latham and Watkins LLP served as legal counsel to IAC. Weil, Gotshal & Manges LLP served as legal advisor to Pacific Avenue and Moelis & Company LLC served as exclusive financial advisor to Pacific Avenue.Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The use of words such as "anticipates," "estimates," "expects," "plans," "guidance" and "believes," among others, generally identify forward-looking statements. These forward-looking statements include, among others, statements relating to: the anticipated timing and completion of the proposed transaction and the expected benefits and strategic advantages of the transaction. Actual results could differ materially from those contained in these forward-looking statements for a variety of reasons, including, among others: (i) our ability to compete with artificial intelligence ("AI") technology and the disruption across marketing and publishing driven by AI-enabled search features, including Google AI Overviews, (ii) unstable market and economic conditions (particularly those that adversely impact advertising spending levels and consumer confidence and spending behavior), either generally and/or in any of the markets in which our businesses operate, as well as geopolitical conflicts, (iii) our ability to market our products and services in a successful and cost-effective manner, (iv) the visibility of our products and services in search results and related features, (v) changes in our relationship with (or policies implemented by) Google, (vi) the continued growth and acceptance of online products and services as effective alternatives to traditional products and services, (vii) our continued ability to develop and monetize versions of our products and services for mobile and other digital devices, (viii) the ability of our Digital business to successfully expand the digital reach of our portfolio of publishing brands, (ix) our continued ability to market, distribute and monetize our products and services through search engines, digital app stores, advertising networks and social media platforms, (x) risks related to our Print business including declining revenue, increases in paper and postage costs, reliance on a single supplier to print our magazines and potential increases in pension plan obligations, (xi) our ability to establish and maintain relationships with quality and trustworthy caregivers, (xii) our ability to access, collect, use and protect the personal data of our users and subscribers, (xiii) our ability to engage directly with users, subscribers, consumers and caregivers on a timely basis, (xiv) the ability of our Chairman and Senior Executive and certain members of his family to exercise significant influence over the composition of our board of directors, matters subject to stockholder approval and our operations, (xv) risks related to our liquidity and indebtedness (the impact of our indebtedness on our ability to operate our business, our ability to generate sufficient cash to service our indebtedness and interest rate risk), (xvi) our inability to freely access the cash of People Inc. and its subsidiaries, (xvii) dilution with respect to investments in IAC, (xviii) our ability to compete, (xix) our ability to build, maintain and/or enhance our various brands, (xx) our ability to protect our systems, technology and infrastructure from cyberattacks (including cyberattacks experienced by third parties with whom we do business), (xxi) the occurrence of data security breaches and/or fraud, (xxii) increased liabilities and costs related to the processing, storage, use and disclosure of personal and confidential user information, (xxiii) the integrity, quality, efficiency and scalability of our systems, technology and infrastructure (and those of third parties with whom we do business), (xxiv) changes in key personnel and risks related to leadership transitions and (xxv) changes to our capital deployment strategy. Certain of these and other risks and uncertainties are described in IAC's filings with the Securities and Exchange Commission (the "SEC"), including the most recent Annual Report on Form 10-K filed with the SEC on February 19, 2026, and subsequent reports that IAC files with the SEC. Other unknown or unpredictable factors that could also adversely affect IAC's business, financial condition and results of operations may arise from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those expressed in any forward-looking statements we may make. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements. You should, therefore, not rely on these forward-looking statements as representing our views as of any date subsequent to the date of this press release.About IAC
IAC builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, public-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC is today comprised of category-leading businesses People Inc. and Care.com among others and holds strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.Contact UsIAC Investor Relations
Mark Schneider
(212) 314-7400IAC Corporate Communications
Valerie Combs
(212) 314-7251IAC
555 West 18th Street, New York, NY 10011 (212) 314-7300 http://iac.com



View original content:https://www.prnewswire.com/news-releases/pacific-avenue-capital-partners-to-acquire-iacs-carecom-302701509.htmlSOURCE IAC

Original: Pacific Avenue Capital Partners to Acquire IAC's Care.com

IAC Earnings Release Available on Company's WebsiteFebruary 3, 2026 4:10 PM
PR Newswire (US)

NEW YORK, Feb. 3, 2026 /PRNewswire/ -- IAC (NASDAQ: IAC) posted its fourth quarter financial results on the investor relations section of its website at https://ir.iac.com/quarterly-results. As announced previously, IAC will host a conference call to discuss the company's fourth quarter results and to answer questions. The call will be held on Wednesday, February 4, 2025, at 8:30 a.m. EST. Barry Diller, Chairman and Senior Executive of IAC, Christopher Halpin, Executive Vice President, COO and CFO of IAC and Neil Vogel, CEO of People Inc. will participate.The live audiocast and replay will be open to the public through the investor relations section of the IAC site at https://ir.iac.com/quarterly-results.About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, publicly-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC is today comprised of category-leading businesses People Inc. and Care.com among others and holds strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.



View original content:https://www.prnewswire.com/news-releases/iac-earnings-release-available-on-companys-website-302678156.htmlSOURCE IAC

Original: IAC Earnings Release Available on Company's Website

Vivian Health Announces Leadership Changes; Appoints Bill Kong CEOJanuary 29, 2026 5:30 PM
PR Newswire (US)

After steering company to profitability and 50x revenue growth since IAC acquisition, Vivian Health Co-founder and CEO Parth Bhakta transitions to Executive Chairman President and Chief Operating Officer Bill Kong to lead Vivian's next chapter of AI-driven scale as CEOSAN FRANCISCO, Jan. 29, 2026 /PRNewswire/ -- Vivian Health, Inc., a subsidiary of IAC Inc. (NASDAQ: IAC) and the nation's leading healthcare jobs marketplace, today announced the appointment of Bill Kong to the role of CEO as part of a leadership transition designed to prepare the company for its next phase of growth. As CEO, Mr. Kong will spearhead the company's go forward strategy as it continues building out its industry-leading talent marketplace, accelerating product innovation, and scaling through AI innovation.







Mr. Kong succeeds Co-founder Parth Bhakta as CEO, who will transition to Executive Chairman and partner closely with Mr. Kong and Vivian's executive management team to drive a new chapter of AI-driven growth and scale. Today's changes also include Chief Financial Officer Adam Greenberg stepping into an expanded role as President & CFO, overseeing financial strategy, business, people and commercial operations, and corporate development. All changes are effective immediately."Since our founding nine years ago, Vivian Health has been on a mission to fix the healthcare labor market. I am incredibly proud of what we have achieved, including growing revenue by over 50x since IAC's acquisition, and most importantly, the positive impact we've had on the lives of the dedicated clinicians who power America's healthcare system," said Parth Bhakta, Co-founder and Executive Chairman of Vivian Health.Continued Mr. Bhakta, "Today, Vivian Health is profitable, growing, and stronger than ever at the forefront of healthcare staffing's transformation in the AI age. Bill has been pivotal to our success; his deep connection to our customers and partners and ability to turn their needs into product reality make him the clear choice to take the reins in this next chapter. As Executive Chairman, my focus will be on shaping Vivian's long-term strategy in partnership with Bill and Adam as they drive day-to-day operations, deliver for our customers and scale the business."Founded in 2017, Vivian Health has grown into the nation's leading healthcare talent marketplace, supporting 2.7 million clinicians with millions of job listings nationwide, and facilitating more than $1.5 billion in healthcare labor spend annually."I am honored to step into the CEO role at such a defining moment for Vivian," said Bill Kong, CEO of Vivian Health. "We have a world-class team, a business model that has recently achieved profitability, and a new suite of rapidly growing AI products gaining traction with clinicians and employers. I'm excited to build on Parth's strong foundation and continue Vivian's mission to transform how healthcare employers hire.""We're grateful for Parth's vision and leadership in building Vivian into an industry-leading platform and look forward to this exciting next stage, as he takes on the Executive Chairman role and Bill becomes CEO," said Chris Halpin, COO and CFO of IAC. "Bill is the perfect leader to take the helm: a proven operator with deep marketplace expertise and strong relationships across the healthcare ecosystem. The future is bright."Mr. Kong brings over 20 years of experience in general management, marketing, growing revenue and profitability, and building brands to his role as CEO of Vivian Health. After joining Vivian in 2023 as Chief Marketing Officer, Mr. Kong was promoted to President and Chief Operating Officer, expanding his scope across brand and performance marketing, product design, customer success, and account management. He previously worked as Chief Marketing Officer at Rover, Chief Digital Marketing Officer at Sears Holding Corporation, and General Manager at Walgreens E-commerce/Drugstore.com. Mr. Kong earned his M.B.A. from Northwestern University, Kellogg School of Management and his undergraduate degree in Computer Science from the University of California at Berkeley.Mr. Kong and Mr. Greenberg are joined by the rest of Vivian Health's veteran executive management team, including Co-founder and Chief Technology Officer Eric Conner and Senior Vice President Jenny Chiu who oversees customer and product marketing.About Vivian Health
Vivian Health, a subsidiary of IAC Inc. (NASDAQ: IAC), is the largest online marketplace for healthcare talent, transforming how clinicians find jobs and connect with employers. Featuring intelligent matching, transparent salary information, and the widest selection of opportunities—spanning staff roles, per diem shifts, local contracts, and travel positions—more than 2.7 million healthcare professionals turn to Vivian to find their perfect job opportunity. Vivian is headquartered in San Francisco with offices in New York City. To learn more, visit vivian.com.About IAC
IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC nearly three decades ago have emerged 10 independent, public-traded companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially disciplined opportunism will never change. IAC is today comprised of category-leading businesses People Inc. and Care.com among others and holds strategic equity positions in MGM Resorts International and Turo Inc. IAC is headquartered in New York City.Contacts:IAC Corporate Communications
Noelle Brasier
(212) 314-7251










View original content to download multimedia:https://www.prnewswire.com/news-releases/vivian-health-announces-leadership-changes-appoints-bill-kong-ceo-302674501.htmlSOURCE Vivian Health

Original: Vivian Health Announces Leadership Changes; Appoints Bill Kong CEO

I wonder if IAC is aware of http://nextminute.app as they try to compete with Uber, TaskRabbit etc. Next Minute is patented and could really give IAC an edge.

... IAC v. Google ... #ExtensionViolations

IAC/InterActive Corp. initiated at overweight with $155 price target at JPMorgan. 7/7/2020

Looking as it should this morning, Strong!

$150 Price target looks on its way. I believe it will surpass the $150 target. IAC has a very strong track record for growing $$$.


Glta

IAC/InterActiveCorp (IAC) PT Lowered to $150 at BTIG. 7/2/2020


https://www.streetinsider.com/Analyst+PT+Change/IACInterActiveCorp+%28IAC%29+PT+Lowered+to+%24150+at+BTIG/17074858.html?classic=1

IAC (NASDAQ: IAC) builds companies. We are guided by curiosity, a questioning of the status quo, and a desire to invent or acquire new products and brands. From the single seed that started as IAC over two decades ago have emerged 10 public companies and generations of exceptional leaders. We will always evolve, but our basic principles of financially-disciplined opportunism will never change. IAC today operates Vimeo, Dotdash and Care.com, among many others, and also has majority ownership ANGI Homeservices, which includes HomeAdvisor, Angie's List and Handy. The Company is headquartered in New York City and has business operations and satellite offices worldwide.

Said Match Group CEO Shar Dubey, "This is a momentous occasion for Match Group, as we are the largest IAC success story to date. Our team is phenomenal, and we are ready to continue growing our businesses, investing in new bets, and expanding our footprint in new markets. We have a proven track record here, and we look forward to taking it to the next level."

As of today, IAC and Match Group each stand on their own as distinct and thriving companies, both well positioned for future growth and organized to continue building.

Details

Upon close of the transaction, IAC shareholders received one share of "new" IAC common stock and 2.1584 shares of "new" Match Group common stock for each share of IAC common stock held immediately prior to the transaction. In addition, IAC received $838 million of cash representing $3 per share of Match Group common stock previously held by IAC and the aggregate cash consideration not elected by Match Group public shareholders. IAC expects to receive an additional $1.4 billion in proceeds from the sale of shares of New Match common stock, which is expected to close later today.

Pre-transaction shareholders of Match Group (other than IAC) received one share of "new" Match Group common stock plus either (i) $3.00 per share in cash or (ii) 0.0337 of a share of "new" Match Group common stock worth $3.00, based on a Match Group stock price of $88.9466 calculated in accordance with the transaction agreement, for each share of Match Group common stock held immediately prior to the transaction.

(PRNewsfoto/Match Group,IAC)

In the quarter century since Barry Diller took the helm of IAC—then a collection of television stations called Silver King Communications worth $250 million—the company has grown into 10 separate publicly-traded businesses, including Match Group. IAC and its progeny are collectively worth nearly $60 billion today.

The transaction allows a smaller, more nimble IAC to shape a new generation of category leaders—from both the seeds existing within IAC's portfolio and the pursuit of entirely new opportunities.

Match Group's combination of category leadership, growth, and cash flow is virtually unrivaled; as a standalone company Match Group now benefits from increased strategic flexibility, enhanced trading liquidity and the eligibility for index inclusion. With a market cap of $30 billion, Match Group is the largest business IAC has separated in its 25-year history. Since Match Group's initial public offering in 2015, the company has more than doubled subscribers and revenue. Match Group's flagship product, Tinder, is the highest grossing non-gaming app worldwide, with a global presence.

"This is just the largest transaction at the core of our strategy throughout these 25 years," said Barry Diller, Chairman and Senior Executive of IAC. "Be opportunistic, be balance sheet conservative, build up enterprises and when they deserve independence let them have it. Be a conglomerate and an anti-conglomerate, a business model that has been unique to us."

"Back to work again," said Joey Levin, CEO of IAC and Executive Chairman of Match Group, "this is the fun part."

NEW YORK and DALLAS, July 1, 2020 /PRNewswire/ -- IAC (NASDAQ: IAC) and Match Group (NASDAQ: MTCH) today announced the successful completion of the separation of Match Group from the remaining businesses of IAC. As a result of the separation, Match Group's dual class voting structure has been eliminated and the interest in Match Group formerly held by IAC is now held directly by IAC's shareholders. Starting today, "new" IAC will trade under the symbol "IAC" and "new" Match Group under the symbol "MTCH."

You think it is best to buy now any idea what cause the crash over %60

Buyers stepping in to take advantage. Very oversold flash crash on a solid company.

Looking great here!


Bottom feeders loving this one!