WALL STREET JOURNAL - Sep 26 - IAC is considering spinning off one or both of its biggest assets: Online-dating giant Match Group and ANGI Homeservices, which owns HomeAdvisor and Angie's List. Analysts estimate Match and ANGI combined will comprise 71% of IAC's total revenue in 2019. Investors seem to be puzzled, sending IAC shares down ~14% this month, although some of this weakness was related to the Federal Trade Commission suing Match. Analysts, however, see hidden value in IAC's remaining assets such as Vimeo and Dotdash. The full remaining portfolio could be worth quite a bit if it had the company's complete attention. IAC could generate revenue of $1.5B in 2020, rising to $2B by 2024. Assuming IAC unloads $1B of debt to Match and ANGI, analysts see valuation upside of 9% to 26% from current levels if both assets are spun off.
by Laura Forman
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