IAC's Search Services Agreement with Google terminated via non-renewal; $183.9M revenue at risk

IAC Inc.

Google sent notice of non-renewal for the Services Agreement, expiring March 31, 2026, eliminating automatic extension.
Search segment attributable to the Agreement generated $183.9M revenue, $10.0M Operating Income, $10.0M Adjusted EBITDA in 9 months ended Sep 30, 2025.
Google expects to propose revised terms; outcome of discussions remains uncertain.
Other advertising revenue from Google not covered by the Agreement is unaffected.

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