IAC pieces together a digital publishing company

AP News
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Posted: Dec 09, 2015 9:53 AM

NEW YORK (AP) — IAC/InterActiveCorp is forming a new digital publishing company that will group all of its websites together.

IAC, which is controlled by billionaire Barry Diller, spun off dating websites Tinder, Match.com and OKCupid last month and Wednesday's suggests a stronger online publishing push.

The websites include About.com, Dictionary.com, Investopedia and The Daily Beast. Its CEO will be Doug Leeds, who had led Ask.com.

The IAC announcement arrived less than two hours after Yahoo said that it had scrapped plans to spin off its Alibaba holdings and was instead exploring the formation of a new company consisting of everything but Alibaba, including its Internet unit.

There have been media reports that IAC was in the hunt for that Internet unit and the new digital publishing company may be a good fit.