Bloomberg News

IAC Takes Controlling Stake in Newsweek/Daily Beast Venture

July 23, 2012

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.

To contact the reporter on this story: Sarah Frier in New York at

To contact the editor responsible for this story: Nick Turner at

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