People Inc. Q2 revenue $437M (-1% YoY); operating loss $14M; Digital revenue up 6%; appoints Vogel CEO, Quinn CFO

IAC Inc.

Q2 revenue $436.7M (-1% YoY); operating loss $14.3M vs $7.5M loss; net earnings $506.9M on $722M unrealized MGM gain.
People Inc. Digital revenue up 6% to $290M; Digital Adjusted EBITDA up 18% to $74.5M; Print revenue down 16%.
Adjusted EBITDA $55.9M, up 15% YoY; revised definition excludes certain items; prior periods recast.
Board authorized additional 10M share repurchase; 12.5M shares remain; agreed to sell LP stake for ~$189M.
Leadership transition: Neil Vogel appointed CEO, Timothy Quinn CFO effective Aug 5; Barry Diller remains Chairman.

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