IAC Acquires Comedy Site

NEW YORK, August 15: Barry Diller’s IAC/InterActiveCorp has
acquired its first website since hiring former Channel 4 chief Michael Jackson
earlier this year to boost its online content offerings, picking up a
51-percent stake and full voting control of Connected Ventures, the parent of
the comedy site CollegeHumor.com.

CollegeHumor is the first site to join Jackson’s division,
IAC Programming, launched earlier this year to buy and build branded online
content properties “that engage passionate communities.”

CollegeHumor offers up videos, pictures, articles and jokes
to its core audience of college students and recent graduates. It attracts more
than 6 million monthly unique users and generates more than 200 million monthly
page views. "With its distinct brand of humor, CollegeHumor has emerged as
a viral success with an enormously loyal audience among young adults,"
said Jackson, the president of IAC Programming. "The founders have done an
outstanding job of growing the business by appealing to a well-defined audience
with a consistent voice and sensibility."

Founders Josh Abramson and Ricky Van Veen will continue to
oversee the Connected Ventures operations.