Angi Stock Rises as IAC to Spin Off Home Services Provider

Spin-off of Angi - IAC plans to spin off its full stake in Angi to its shareholders, with the transaction expected to occur in the first half of 2025 but not before March 31 [1][4][7] - The spin-off will allow IAC management to focus on its broader portfolio and new growth opportunities, while enhancing its ability to use stock for acquisitions and employee incentives [1][4] Executive Leadership Changes - IAC CEO Joey Levin will step down and become an advisor to the media company, while also taking on the role of Executive Chair at Angi, working alongside Angi CEO Jeff Kip [2][4] - IAC will not replace Levin as CEO, instead, CFO and COO Christopher Halpin and Chief Legal Officer Kendall Handler will report directly to Chairman Barry Diller [3][4] Market Reaction - Following the announcement, IAC shares declined by approximately 3.5%, while Angi shares rose by about 3% [2] Corporate Structure - Dotdash Meredith, the parent company of Investopedia, is a subsidiary of IAC [3]