Barry Diller’s latest content ambitions get underway with IAC/I’s acquisition of 51 percent and full voting control of ConnectedVentures, LLC, the parent company of CollegeHumor.com. It’s the first acquisition for IAC Programming, the unit headed by former cable programming whiz Michael Jackson. That the first buy is a chunk of a humor site isn’t surprising; that’s an area the company is known to be interested in—along with everyone else targeting young adults—and talks with CollegeHumor.com were reported earlier by the NY Post. Then the deal was rumored to be in the $10 million range, which sounds small. CollegeHumor.com boasts 6 million-plus monthly uniques and more than 200 million monthly page views.
—It’s also an acq-hire for IAC: co-founders Josh Abramson and Ricky Van Veen stay with the site. The release has the usual bit about “entrepreneurial spirit.” They founded the site in 1999 as high school friends.
—There’s a retail angle, too, which fits right in at IAC. Connected Ventures’ other efforts include BustedTees.com, founded in 2004. Release.
Related:
—Industry Moves: IAC Appoints Jason Rapp As M&A SVP
—IAC’s Readying For Content Acquisitions?