The media industry has spent the better part of a decade working to capture the attention of audiences whose content consumption habits have diversified to include many options beyond legacy models. Increasingly, the vertical screen has become the dominant one in people's lives.
IAC NASDAQ: IAC executives said the company's recent consolidation plan is intended to simplify its structure, reduce corporate expense and narrow what management views as a discount in the company's share price.
IAC Inc. (IAC) Presents at TD Cowen's 54th Annual Technology, Media & Telecom Conference Transcript
Simplification of the business from a holding company to just People Inc. (Publishing) and MGM Resorts (Betting) should help close the conglomerate discount gap vs. fair value. Selling off non-core assets like Turo and Vivian, followed by shareholder-friendly allocation of capital, should boost the stock price, with buybacks being the first method of returning capital to shareholders. Dealmaking is still part of IAC's (now People Inc.) DNA, and this could mean deals with Entain/BetMGM or peers like Ziff Davis to develop their existing businesses.
IAC NASDAQ: IAC is continuing its transformation from a holding company into People Incorporated, with executives describing the shift as a continuation of a strategy outlined earlier this year that includes asset sales, cost reductions and a sharper focus on People Inc. and MGM Resorts International.
IAC Inc. (IAC) Presents at J.P. Morgan 54th Annual Global Technology, Media and Communications Conference Transcript
IAC Inc. (IAC) Q1 2026 Earnings Call Transcript
Although the revenue and EPS for IAC (IAC) give a sense of how its business performed in the quarter ended March 2026, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
IAC (IAC) came out with a quarterly loss of $0.05 per share versus the Zacks Consensus Estimate of a loss of $0.34. This compares to a loss of $2.8 per share a year ago.
The New York City-based media holding company said revenue from People, which makes up the bulk of the company's top line, fell 2%.
IAC trades below the value of its parts today, even without any aggressive restructuring efforts by the management. The core value sits in People Digital, the MGM stake, and HoldCo cash, while the market continues to discount the company for the complexity of the portfolio. The thesis treats Search, Print, and smaller private assets as valuation components inside the SOTP.
The media conglomerate's shares have been trading poorly and it has been streamlining itself to focus on core assets.