IAC and media entrepreneur Ben Silverman announced that they are forming a new company to capitalize on the ever-evolving world of multimedia production and distribution, leveraging unique marketing expertise. The company, which will be headed by Ben Silverman, will unite producers, creators, advertisers and distributors under one roof and produce all forms of content for distribution across a variety of platforms around the world.

IAC will provide initial capital to the venture, though the parties intend to ultimately structure the venture in a way that its results will not be consolidated with the financial results of IAC, whether through the participation of new investors or otherwise.