Liberty Media Ups Stake in IAC to 30%; IAC Getting “Close To” Flixster Acquisition
Fortune 500 American media company, InterActiveCorp operates 60 brands, employs 20,000 employees, and has its fair share of interesting headlines.Â All of IAC’s web sites attract 680 million visitors.Â IAC is also the largest buyer of online advertising.Â IAC’s 60 brands keeps the company’s dazzling, spectacle headquarters glowing:
Yesterday, Liberty Media Holding Corp. International bought 14 million shares of IAC/InterActiveCorp from a single holder.Â And then IAC bought 6 million shares of its own stock from that same single holder.Â This brings Liberty Media’s ownership of IAC toÂ 30%.
IAC gave their Internet property, Ask.com a major marketing overhaul.Â Jakob Lodwick, co-founder of Vimeo,Â parted ways with IAC after a disagreement with the company’s management recently.Â AndÂ today I read that IAC may be close to acquiring Flixster.
Flixster is a social network centered around movies.Â According to TechCrunch, either the deal is done or is “very close.”Â The deal is rumored to be potentially around $150-$200 million.Â One of Flixster’s primary traffic drivers is its Facebook Application.Â Flixster raised around $2 million from Lightspeed Ventures and other angel investors.Â The social networking company is based in San Francisco, Calif.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry