BUZZ-IAC, Angi rise after IAC says will spin off home services unit
ReutersJan 13, 2025 10:10 PM
Shares of Angi Inc ANGI.O rise 16% to $1.81, while IAC IAC.O shares up 3.62% at $43 in after-hours trading
IAC's CEO Joey Levin to step down, after company spins off majority stake in home services marketplace Angi
Company looking to slim down portfolio and focus on its biggest asset, Dotdash Meredith
Levin to become an advisor for IAC and executive chairman of Angi
IAC does not intend to appoint a new CEO and its leadership will answer to chairman Barry Diller
Spin off is expected to close in the first half of 2025
In 2024, ANGI had fallen 33.3%, and IAC 17.6%
(Reporting by Juby Babu in Mexico City)
((Juby.Babu@thomsonreuters.com;))
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