IAC approves spinoff of home improvement marketplace Angi

Barry Diller's IAC said Monday that its board approved the spinoff of Angi, the home improvement marketplace the company acquired in 2017.IAC said it expects the transaction to close in the second quarter of the year. The two companies will post their respective fourth-quarter results when IAC reports on Feb. 11. Angi was founded in 1995 as Angie's List, which went public on the Nasdaq in 2011.As part of the spinoff, IAC CEO Joey Levin will leave his role and become an advisor to the company. Levin will als ...