IAC/InterActive (IACI) Said to Take Full Control of Newsweek Daily Beast

Article Stock Quotes (1) Comments (0)

IAC/InterActive (Nasdaq: IACI) is said to have taken control over Newsweek Dail Beast Co., which it was in a joint venture with Sidney Harman, the late founder of Harmon/Kardon.

The move comes as Harmon's family has decided to cap further investment in the joint venture, meaning IAC/InterActive's 50 percent stake is now the controlling interest via consolidation of the Newsweek Daily Beast.

Though Newsweek Daily Beast is a popular political/opinion website which never capitalized on ad sales. Reuters data has the site losing about $10 million annually. It was founded in October 2008.

IAC/InterActive shares are down 0.7 percent into the close Monday.

---

Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW

---

*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here

---

---

You May Also Be Interested In

• Despite Outside Interest, Tumblr and Yahoo! (YHOO) Are in Lockup (MSFT) (FB)
• Will Erickson Air-Crane (EAC) Stock Crash and Burn?
• Amarin's (AMRN) Vascepa Not in FDA Orange Book for April

Create E-mail Alert Related Categories

Insiders' Blog, Mergers and Acquisitions

Add Your Comment

Name

Subject

Body

Share on Facebook

Verification
can't see the text?
click here to refresh the image.
what's this?