IAC (company)
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IAC Building in New York City (2012)
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Formerly called
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HSN Inc. (1996–1998) USA Networks Inc. (1998–2002) USA Interactive (2002–2003) InterActiveCorp (2003–2004) |
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| Public | |
| Traded as | NASDAQ: IAC |
| Industry | Internet |
| Predecessors | Silver King Communications |
| Founded | August 24, 1995 |
| Headquarters | IAC Building, New York City, New York, United States |
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Area served
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Worldwide |
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Key people
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Joey Levin (CEO) |
| Products | Interactive media |
| Revenue |
 US$3.14 billion (2016) |
 US$32.6 million (2016) |
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US$41.3 million (2016) |
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| Total assets |
US$4.65 billion (2016) |
| Total equity |
US$2.01 billion (2016) |
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Number of employees
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5,000 (January 2015) |
| Website | iac |
IAC/InterActiveCorp (also known as IAC) is an American media and Internet company, with over 150 brands across 100 countries, headquartered in New York City.Joey Levin, who previously led the company's Search & Applications segment, has been the company's Chief Executive Officer since June 2015.
IAC was established in 1986 as Silver King Broadcasting Company, as part of a plan to increase viewership of the Home Shopping Network (HSN) by purchasing local television stations. By 1988, Silver King had bought 11 stations for about $220 million. The company was later renamed as HSN Communications, Inc., and then Silver King Communications, Inc. In 1992, Silver King was spun off to HSN shareholders as a separately traded public company. In August 1995, Barry Diller acquired control of Silver King, in a deal backed by the company's largest shareholder, Liberty Media. Diller, who had led the creation of the Fox network, reportedly hoped to use Silver King's stations as the foundation for a new broadcast network.
In December 1996, Silver King acquired an 80% stake in HSN for $1.3 billion in stock, and changed its own name to HSN, Inc. At the same time, the company acquired Savoy Pictures, a failed film studio that owned four Fox affiliate stations through SF Broadcasting, for $210 million in stock.
The company acquired several assets in the late 1990s. HSN purchased a controlling stake in Ticketmaster Group in July 1997, and then acquired the rest of the company in June 1998. In February 1998, it acquired the television assets of Universal Studios (including USA Network, Sci-Fi Channel, and Universal Television's domestic production and distribution arms) for $4.1 billion. The company's name was changed to USA Networks, Inc. at this point. Continuing its acquisition strategy, the company acquired the Hotel Reservations Network in May 1999 for $149 million.
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