Deals
IAC to Sell CollegeHumor, Which Will Cut Most of Its Workers
- Longtime CH Media executive Sam Reich to acquire the business
- IAC will keep minority stake in slimmed down company
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Barry Diller’s IAC/InterActive Corp. plans to sell CH Media, the parent of CollegeHumor and other digital brands, to the unit’s chief creative officer, in a move that will cause most employees to lose their jobs.
Terms of the sale to longtime CH Media executive Sam Reich were not disclosed in a statement Wednesday. IAC will keep a minority stake in the business, according to a person familiar with the matter.