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Media Room
February 4, 2008
IAC Announces the Launch of Black Web Enterprises Inc.
IAC’s Online Destination for the Black Community Prepares to Introduce First Site in the Coming Weeks
NEW YORK – February 4, 2008 - IAC (NASDAQ: IACI) today announced the launch of Black Web Enterprises Inc. (BWE), the company’s online destination for the Black community, and its newly appointed executive management team. The announcement solidifies IAC’s previously publicized commitment to launch an interactive community platform for the U.S. Black population.
“With a phenomenal management team in place, we are on the cusp of unveiling the first initiative under the Black Web Enterprises umbrella… a site that will revolutionize the internet for the Black Community,” said Johnny C. Taylor, Jr., President & CEO of BWE. “Rather than compete with existing sites already geared toward the Black community, our goal with the initiative is to expand this market in order to bring the absolute best and most relevant web experience to Black people everywhere.”
Mr. Taylor will lead BWE. His executive management team includes:
Brad Gebert, Vice President, Technology – A proven technology expert, Mr. Gebert brings outstanding experience as a Technical Development Manager to BWE to lead application development and ensure that the business will run on the most advanced technological systems available. Brad also brings to BWE a keen understanding of IAC’s brands, having spent 7 years prior at IAC’s LendingTree and GetSmart.
Kevin McFall, Vice President, Products – An accomplished executive of the media and technology industries, with experience spanning a number of interactive media companies including Zap2it.com and BlackVoices.com (Tribune Company), Mr. McFall brings more than a decade of digital product development experience to guide strategic planning, as well as product management and execution for BWE.
Katrina Witherspoon, Vice President, Marketing & Business Development – With more than 12 years of product management and marketing experience with Reach Media Inc.’s BlackAmericaWeb.com and IAC’s Match.com, Ms. Witherspoon will lead BWE’s marketing, sales, and business development strategies.
Heather Keets Wright, Managing Editor – A seasoned journalist with 15 years experience in writing and editing for national magazines (Essence), newspapers, (The Washington Post) and websites (MarthaStewart.com), Ms. Keets Wright will oversee all editorial content related to BWE initiatives.
BWE will house a number of yet-to-be-announced online destinations catering to the distinct needs and interests of the estimated 50 million Black people living in the U.S., from African Americans to Blacks from Latin America and the Caribbean. The business is a part of IAC Programming, established in 2006 under the leadership of Michael Jackson to grow branded online content properties.
“Johnny and his colleagues have spent the greater part of a year engulfed in the task of building a site that understands and meets the needs of the Black community unlike any other that exists today,” said Mr. Jackson. “Beyond our enthusiasm for bringing this venture to the forefront of IAC Programming, we look forward to building upon the knowledge and success of this first launch for future endeavors tailored to very specific audiences.”
Today’s move comes after IAC’s November 2007 announcement of plans to separate IAC into five publicly traded companies, spinning off HSN, Ticketmaster, Interval International and LendingTree. Expected to be completed in the second or third quarter of 2008, the new IAC will include:
The businesses currently comprising its Media & Advertising sector: Ask.com, Bloglines, Citysearch, CursorMania, Evite, Excite, IAC Advertising Solutions, InsiderPages, iWon, My Fun Cards, My Way, Popular Screensavers, Smiley Central, Webfetti and Zwinky;
Match.com, ServiceMagic, Shoebuy.com, Entertainment Publications and ReserveAmerica;
Emerging Businesses including Pronto and Gifts.com, Green.com, Primal Ventures, and InstantAction;
IAC Programming businesses including Black Web Enterprises, BustedTees, CollegeHumor, GarageGames, Very Short List, Vimeo and 23/6;
IAC’s current investments in Active.com, Brightcove, FiLife, MerchantCircle, OpenTable, Points.com and SHOP Channel.
About IAC
IAC operates leading and diversified businesses in sectors being transformed by the internet, online and offline... our mission is to harness the power of interactivity to make daily life easier and more productive for people all over the world. To view a full list of the companies of IAC please visit our website at http://iac.com
Contact Information:
IAC Communications Office
Stacy Simpson / Leslie Cafferty
(212) 314-7470 / 7326
IAC Investor Relations
Eoin Ryan
(212) 314-7400