IAC/InterActiveCorp (IACI) Looking At Buying Yahoo Personals (YHOO)
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IAC/InterActiveCorp (Nasdaq: IACI) said it's in talks to buy Yahoo's (Nasdaq: YHOO) online-dating business, after posting a Q1 loss due to a downturn in its advertising business
IAC Chief Executive Barry Diller said yesterday that IAC was talking to Yahoo about buying Yahoo Personals, but he noted that it was too early to know if anything will come out of it.
"We would love to have Yahoo Personals, and there are discussions about that," Mr. Diller said on a conference call. IAC owns rival dating site Match.com.
Yahoo management has considered selling its match-making site for several years, according to people familiar with the matter. But Yahoo CEO Carol Bartz has expressed a new desire to shutter or sell products that aren't core to its business.
Gene Munster, analyst at Piper Jaffray, said Yahoo Personals could be worth about $500 million, or 3 to 4 times an estimated $150 million in annual revenue for the unit.
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