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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

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.