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Diller’s IAC Acquires CollegeHumor.com

Aug 16, 2006  •  Post A Comment

Diller’s IAC Acquires CollegeHumor.com: Barry Diller’s home shopping and Web venture IAC/InterActiveCorp has acquired controlling stake in the company that owns comedy Web site Collegehumor.com, marking another foray into show business for the media entrepreneur.

Terms of the transaction weren’t disclosed in a Tuesday news release from the company, though news reports have said IAC paid about $10 million for a 51 percent stake of Collegehumor.com parent Connected Ventures LLC.

Collegehumor.com is the first addition to IAC Programming, which Mr. Diller launched earlier this year to buy online content properties. Mr. Diller has built IAC into a collection of Web commerce sites that includes Match.com and Expedia, and the company runs the Home Shopping Network cable channel.

CollegeHumor founders Josh Abramson and Ricky Van Veen will continue to oversee the Connected Ventures operations. The company recently released the book “The CollegeHumor Guide to College” and is developing a film for Paramount Pictures. Through Connected Ventures it also operates a number of other online content and retail brands, including the retail business BustedTees.com.

CollegeHumor attracts more than 6 million monthly unique users and generates more than 200 million monthly page views, according to Nielsen Site Census. Allen & Company acted as financial advisor to Connected Ventures for the transaction.