IAC Takes Controlling Stake in Newsweek/Daily Beast Venture
IAC/InterActiveCorp acquired a controlling stake in the Newsweek/Daily Beast Co., a media company formed last year from the merger of an online news startup and Newsweek magazine.
“We’ve acquired a controlling interest and it’s not material to our earnings,” said Justine Sacco, a spokeswoman for New York-based IAC. Reuters previously reported on the move.
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