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IAC/InterActiveCorp Message Board

  • paybak66 paybak66 Mar 31, 2008 4:33 PM Flag

    IACI selling Ent Pub?

    Just read the Q4 07 earnings conf call transcript - and noticed the comment from an analyst about Diller "trying to sell EPI for some time now".

    Interesting that they not only WANT to (finally) dump Entertainment - but that they cant even find a BUYER!


    What does everyone else think about EPI? Looks like their numbers the past 1 - 2 yrs have been CEO or not!

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    • They have been trying to sell EPI for well over 1 year. The asking price has fallen by $150M. They still haven't been able to sell it despite writing down the value of the business by over 80%! Tough buy, Barry!

      As I heard from a prospective buyer following a sales presentation last year "that was the most under-qualified management team (CEO/CFO/COO) I have ever seen. Not only did they not have any true knowledge of the business, they showed no intellectual capability."

      • 2 Replies to personalandy
      • I am guessing that the "prospective buyers" that you mention were former EPI employees?

        A few companies comprised of past employees have begun sniffing around lately.....apparently, they are the only ones even remotely interested in buying EPI.

      • Not surprised.

        All new mgt team helps explain them being underqualified.

        Sounds like they have no idea which direction to take the company - paid advertising model, sell direct to consumers, get away from nonprofits and make higher % per book sold, etc.

        Not good - time for IACI to dump that old school company and stick with what they know!

        It will go for very low price.....

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