IAC/INTERACTIVECORP (NASDAQ:IAC) Files An 8-K Other Events

ME Staff 8-k
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IAC/INTERACTIVECORP (NASDAQ:IAC) Files An 8-K Other Events
ITEM 8.01. Other Events

Following the sale of The Princeton Review, by Match Group, Inc. ("Match Group"), a subsidiary of IAC/InterActiveCorp ("IAC" or the "Company"), on March 31, 2017, the Company moved the results of The Princeton Review from its Match Group segment to its Other segment. While the results of The Princeton Review are reflected as a discontinued operation in Match Group's standalone consolidated financial statements, these results did not meet the threshold to be reflected as a discontinued operation in the Company's consolidated financial statements. This Current Report on Form 8-K is being filed primarily to reflect this change in segments.

In addition, in this Current Report on Form 8-K the Company has:

updated the disclosures related to recent accounting pronouncements that were included in its Form 10-Q for the Quarter Ended March 31, 2017, which was filed on May 8, 2017, including to reflect its adoption of ASU No. 2016-09, Compensation-Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting, effective January 1, 2017;

reflected the reclassification of certain operating expenses in each of the years in the three year period ended December 31, 2016 to conform to the presentation in its Form 10-Q for the Quarter Ended March 31, 2017; and

included as a subsequent event, the Company's announcement, on May 1, 2017, that it had entered into a definitive agreement with Angie's List, Inc. ("Angie's List") to combine the businesses in the Company's HomeAdvisor segment and Angie’s List under a new publicly traded company to be called ANGI Homeservices Inc. The Company will own between approximately 87% and 90% of the economic interest (on a fully diluted basis) and approximately 98% of the total voting power of ANGI Homeservices Inc. common stock. This transaction, which is subject to the satisfaction of customary closing conditions, including the approval by Angie's List stockholders, is expected to close in the fourth quarter of 2017. This event was previously reported on a Current Report on Form 8-K dated May 1, 2017.
The following items of the 2016 Form 10-K are being updated retrospectively to reflect the above-mentioned changes:

1.

Part II—Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

2.

Part II—Item 8. Consolidated Financial Statements and Supplementary Data:

Consolidated Statement of Operations

Consolidated Statement of Cash Flows

Note 1—Organization

Note 2—Summary of Significant Accounting Policies

Note 5—Goodwill and Intangibles Assets

Note 14—Segment Information

Note 22—Guarantor and Non-Guarantor Financial Information

Note 24—Subsequent Event

The above sections, as updated, are included in Exhibit 99.1 to this Current Report on Form 8-K and are incorporated herein by reference. This Current Report on Form 8-K should be read in conjunction with the 2016 Form 10-K, provided that the foregoing sections supersede the corresponding sections included in "Management's Discussion and Analysis of Financial Condition and Results of Operations," and "Consolidated Financial Statements and Supplementary Data" contained in the 2016 Form 10-K. More current information is contained in the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2017 as filed with the SEC.

ITEM 9.01. Financial Statements and Exhibits

Exhibit No.

Description

Consent of Ernst & Young LLP

Portions of the 2016 Form 10-K:

Part II—Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations

Part II—Item 8. Consolidated Financial Statements and Supplementary Data

101.INS XBRL

Instance

101.SCH XBRL

Taxonomy Extension Schema

101.CAL XBRL

Taxonomy Extension Calculation

101.DEF XBRL

Taxonomy Extension Definition

101.LAB XBRL

Taxonomy Extension Labels

101.PRE XBRL

Taxonomy Extension Presentation


IAC/INTERACTIVECORP Exhibit
EX-23.1 2 ex-231xiacx20161231x8k.htm EXHIBIT 23.1 Exhibit Exhibit 23.1CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRMWe consent to the incorporation by reference in the following registration statements (and any amendments thereto) of IAC/InterActiveCorp of our report dated February 28,…
To view the full exhibit click here

About IAC/INTERACTIVECORP (NASDAQ:IAC)

IAC/InterActiveCorp (IAC) is a media and Internet company. The Company’s brands and products include HomeAdvisor, Vimeo, About.com, Dictionary.com, The Daily Beast, Investopedia, and Match Group’s online dating portfolio, which includes Match, OkCupid, Tinder and PlentyOfFish. It operates through six segments: Match Group, which includes the dating and non-dating businesses of Match Group, Inc; HomeAdvisor, which includes home services digital marketplace that helps connect consumers with home professionals; Publishing, which consists of Premium Brands business, which includes About.com, Dictionary.com, Investopedia and The Daily Beast, and Ask & Other business; Applications, which consists of Consumer, which includes its direct-to-consumer downloadable desktop applications, including SlimWare, and Apalon; Video, which consists of Vimeo and DailyBurn, as well as Electus, IAC Films, CollegeHumor and Notional, and Other, which consists of PriceRunner.