Barry Diller Returning As CEO Of IAC As Company Announces Spinoff Of Angi Stake
deadline.comBarry DIller is returning as CEO of InterActive Corp., the diversified digital company he founded in 1995. The company included the leadership news in a broader announcement about finalizing a plan to spin off a stake in home services platform Angi to IAC shareholders.
Joey Levin, who had been IAC’s CEO, will become executive chairman of Angi. After the management shuffle and spinoff was revealed after the close of trading, shares in IAC jumped 5% after hours.
Diller, whose previous stint as CEO ended in 2010, had already been serving as chairman of IAC. The company’s largest holding is Dotdash Meredith, publisher of People, Southern Living and other outlets once controlled by Time Inc..
It also owns all or part of a range of other digital businesses and has fostered a number of companies that went on to become independent entities.
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