secwatch.observer — SEC 8-K summary
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Issuer:     IAC Inc. (IAC)
CIK:        0001800227
Form:       8-K
Filed at:   2025-02-11T23:59:59+00:00
Accession:  0001800227-25-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

IAC Q4 revenue -6% to $989M; plans Angi spin-off; CEO Levin to depart
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- Net loss $199M (diluted loss $2.39) vs prior-year net income $328M, hit by $287M unrealized loss on MGM investment.
- Operating income $50.6M turned from -$37M loss YoY; Adjusted EBITDA $142M (-9% YoY).
- Board approved spin-off of Angi Inc. to IAC shareholders, expected H1 2025; CEO Joey Levin to step down and become Angi Executive Chairman post-spin.
- Dotdash Meredith digital revenue +10% to $311M, Q4 operating income $87M; Search revenue -33% to $89M.
- FY2025 outlook: total Adjusted EBITDA $345-425M; Google agreement extended to March 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1800227/000180022725000006/0001800227-25-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1800227/000180022725000006/iaci-20250211.htm
  HTML page:      https://secwatch.observer/filing/0001800227-25-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer