Overview

• IAC's board has approved the spin-off of Angi, its home services platform, with the transaction expected to close no earlier than March 31, 2025.
• Barry Diller, IAC's chairman, will take over leadership of the company, with no plans to appoint a new CEO after Joey Levin's departure.
• Joey Levin will transition to executive chairman of Angi, working closely with its CEO Jeff Kip to guide the company's independent growth.
• The spin-off will grant IAC shareholders direct ownership of Angi, marking the latest in IAC's history of separating and incubating companies like Expedia and Match Group.
• IAC executives, including CFO Christopher Halpin and chief legal officer Kendall Handler, will now report directly to Barry Diller.