IAC Mulls Giving Up Control of Match to Streamline Company
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IAC/InterActive Corp. is considering giving up control of its top two money-makers: Match Group Inc. and ANGI Homeservices Inc. in an effort to streamline its sprawling operations. The stock jumped on the news.
In a letter to shareholders Wednesday, IAC Chief Executive Officer Joey Levin said the company is “considering spinning our two large publicly traded subsidiaries,” adding that IAC may ultimately decide to do nothing. “We sincerely haven’t decided yet what’s best.”