Story perspectives
IAC to Spin Off Angi, Shares Surge 12.2%
1/14/2025
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Story summary
- IAC will spin off its entire stake in Angi, enabling direct shareholder ownership, anticipated by mid-2025.
- CEO Joey Levin will become Executive Chairman of Angi; IAC will not appoint a new CEO.
- This spin-off aims to sharpen IAC's focus on its broader portfolio and improve Angi's equity structure.
- Following the announcement, Angi shares surged 12.2% in after-hours trading.
