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Meager Rewards for Workers, Exceptionally Rich Pay for C.E.O.s
  + stars: | 2021-06-11 | by ( Peter Eavis | ) www.nytimes.com sentiment -0.99   time to read: +2 min
The conditions set by Palantir’s board for Mr. Karp’s 2020 long-term equity award have put him in a very good position. The options and stock have an estimated market value of $2.7 billion, most coming from options, which are in the black when Palantir stock exceeds $11.38. With the stock now at $24.14, the options show a $1.8 billion market gain. The reward is dependent on stock price targets. These prices need to be sustained or improved for 10 years for Mr. Levin to achieve the full award,” it said.
Persons: Karp’s, Joseph Levin, Drew Angerer, Mr, Levin, , Xu Organizations: IAC
Palantir CEO Alex Karp was the highest-paid public company CEO at $1.1 billion. The data showed that not only is the gulf between employee and executive pay widening, but that executive compensation skyrocketed in 2020. Karp's company, Palantir, officially became a public company last September via a direct listing on the New York Stock Exchange. Tony Xu, CEO of DoorDashDoorDash cofounder and CEO Tony Xu. Eric Wu, CEO of OpendoorWith compensation worth $370 million, Opendoor CEO Eric Wu was the third-highest paid executive in 2020.
Persons: Alex Karp, Equilar, Karp, Tony Xu, DoorDash, Mike Blake, Eric Wu, Opendoor, Read, Chad Richison, Paycom, Joey Levin, InterActiveCorp Joseph Levin Organizations: New York Times, The New York Times, Times, The Times, New York Stock Exchange, DoorDash, IAC, InterActiveCorp
REUTERS/Mike BlakeViacomCBS Inc (VIAC.O) and Comcast Corp (CMCSA.O) can succeed without acquiring other businesses, IAC (IAC.O) Chairman Barry Diller said during a Reuters Newsmaker event Thursday. The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NFLX.O), which would require significant investment, a "fool's errand" at this point. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. “I don’t think they have to do anything,” he said of whether Comcast needs to spin off a business or get bigger. The Internet and media mogul brushed off concerns about Netflix’s debt burden.
Persons: Barry Diller, Mike Blake ViacomCBS, Diller, , ” Diller Organizations: IAC, Inc, Wall Street Journal, REUTERS, Mike Blake ViacomCBS Inc, Comcast Corp, Reuters, Fox Broadcasting Company, Netflix, Discovery Inc, Discovery, Warner Brothers Discovery, MGM, MGM Resorts International, Comcast, NBCUniversal, Thomson Locations: Laguna Beach , California, U.S
Mogul Diller says ViacomCBS, Comcast don’t need deals to succeed
  + stars: | 2021-06-10 | by ( Helen Coster | ) www.reuters.com + 0.95   time to read: +2 min
Barry Diller, Chairman and Senior Executive of IAC/InterActiveCorp and Expedia, Inc., speaks at the Wall Street Journal Digital conference in Laguna Beach, California, U.S., October 17, 2017. REUTERS/Mike BlakeViacomCBS Inc (VIAC.O) and Comcast Corp (CMCSA.O) can succeed without acquiring other businesses, IAC (IAC.O) Chairman Barry Diller said during a Reuters Newsmaker event Thursday. The media and Internet mogul, who helped found Fox Broadcasting Company, described competing with Netflix (NFLX.O), which would require significant investment, a "fool's errand" at this point. He described Comcast as being in a “fantastic position” with a cable and broadband business that hedges against NBCUniversal. The Internet and media mogul brushed off concerns about Netflix’s debt burden.
Persons: Barry Diller, Mike Blake ViacomCBS, Diller, , ” Diller Organizations: IAC, Inc, Wall Street Journal, REUTERS, Mike Blake ViacomCBS Inc, Comcast Corp, Reuters, Fox Broadcasting Company, Netflix, Discovery Inc, Discovery, Warner Brothers Discovery, MGM, MGM Resorts International, Comcast, NBCUniversal, Thomson Locations: Laguna Beach , California, U.S
Internet Conglomerate IAC Is Looking for a New CFO
  + stars: | 2021-06-08 | by ( Mark Maurer | ) www.wsj.com + 0.00   time to read: +2 min
is searching for a new finance chief after Chief Financial Officer Glenn Schiffman decided to leave the conglomerate to pursue a new opportunity. IAC declined to comment on where Mr. Schiffman is going. IAC said Mr. Schiffman will remain on Angi’s board of directors. Glenn Schiffman, finance chief of IAC/InterActiveCorp. Newsletter Sign-up CFO Journal The Morning Ledger provides daily news and insights on corporate finance from the CFO Journal team.
Persons: Glenn Schiffman, Schiffman, Jamie Cohen, Michael Bucher, Michael Schwerdtman, Nick Stoumpas, Mark Schneider, Schiffman’s, Ygal Arounian, Greg Blatt, — Allison Prang, Mark Maurer Organizations: IAC, Angi Inc, Street, Vimeo, Mr, Wedbush Securities Inc, MGM Resorts International, Group Inc, Match, mark.maurer Locations: New York, Angi
This is often the first question I'm asked by friends and family members whenever I bring up my job. It's also okay to have some proverbial "fun money" in crypto assets. Amazon AMZN In other words, not every e-commerce or tech stock from 20 years ago matured likedid. Alibaba BABA Spotify SPOT Uber UBER "Crypto is just like the internet bubble. Some long-term crypto bulls think that makes this a buying opportunity.
Persons: Paul R, Monica, I'm, especiallyCEO Elon Musk, dogecoin I've, Dan Pipitone, it's, Pipitone, Benjamins, It's, didn't, Barry Diller's, Alibaba BABA, Mitchell Green, Green, bitcoin, Jeremy Welch, Ron L, Brown Organizations: CNN Business, cryptos, Tech, Qualcomm, Cisco CSCO, Nasdaq, IAC IAC, Cisco, Lead Edge, R.L, Brown Wealth Management Locations: cryptocurrencies, America, Vegas
Wall Street is warming up to the newly independent Vimeo, with two investment firms initiating coverage of the stock on Wednesday with positive ratings. The video company was spun off from IAC last month and is now traded on the Nasdaq with a market cap of about $6.6 billion. The stock tumbled in its first few days on the market but has regained ground in the previous two sessions. Cowen and Jefferies initiated coverage of the stock with ratings of outperform and buy, respectively, with both firms pointing to Vimeo's potential in the enterprise video space.
Persons: Cowen, Jefferies Organizations: IAC, Nasdaq
Match Group, Former Employees Spar Over Handling of Sexual-Assault Allegation
  + stars: | 2021-05-28 | by ( Georgia Wells | ) www.wsj.com sentiment -1.00   time to read: +2 min
When Greg Blatt announced his plan to resign as Match Group Inc. chief executive in 2017, the dating-app conglomerate presented the transition as orderly and planned well in advance. Executives also deliberated over having Mr. Blatt address the allegation, a draft resignation letter Mr. Blatt sent to independent public-relations representatives showed. Three weeks after the exchange, a press release announcing Mr. Blatt’s resignation as CEO of both Match Group and dating app Tinder didn’t mention the allegation or an investigation that Match Group conducted. IAC, which separated from Match Group last year, said in a statement that an investigation by Match Group’s board with two outside law firms found no violation of law or company policy. Based on the investigation’s findings, there was no cause for Mr. Blatt to resign and, therefore, no cause to disclose it.
Persons: Greg Blatt, Blatt, . Blatt, , Valerie Combs, Joey Levin, Blatt’s, Barry Diller Organizations: Inc, Match Group, IAC, Group Locations: New York
This story is from today's edition of Morning Brew, an awesome daily email publication read by 2.5 million next-generation leaders like you. Vimeo became the 11th company to be spun off from IAC yesterday when it went public on the NYSE. IAC, a holding company, is known for prolific dealmaking; previous spin-offs include Match Group, Expedia, and LendingTree. Vimeo's main business is software as a service, or Saas, that makes it easier for the Average Joe's Gymnasiums of the world to create and distribute video content. This story is from today's edition of Morning Brew, a daily email publication.
Persons: Anjali Sud, it's, Barron's Organizations: IAC, NYSE, YouTube, Sud
Canopy Growth (CGC) – The cannabis producer's shares rose 2.4% in the premarket after MKM Partners upgraded the stock to "buy" from "neutral." Shake Shack (SHAK) – The restaurant chain's stock rallied 5.2% in premarket trading after Goldman Sachs upgraded it to "buy" from "neutral." AutoZone added 1.1% in premarket trading. IAC/Interactive (IAC) – IAC shares jumped 5.3% in premarket trading ahead of today's spinoff of Vimeo to IAC shareholders. Petco (WOOF) – The pet products retailer announced a secondary stock offering of 22 million shares, with the selling stockholder granting underwriters the option to purchase another 3.3 million shares within 30 days.
Persons: Lordstown, MKM, Goldman Sachs, Goldman, Wedbush, AutoZone, – United, Joe Berchtold, CNBC's, Petco Organizations: Lordstown Motors, MKM Partners, Revenue, MGM Studios, CNBC, Foods, AstraZeneca, U.S, drugmaker Alexion Pharmaceuticals, United Airlines, Securities and Exchange Commission, Entertainment, IAC, Interactive, Vimeo, Nasdaq, premarket . Alaska Air, Alaska Air Locations: British, premarket
Vimeo CEO Anjali Sud address the stock's tumble after Nasdaq debut
  + stars: | 2021-05-25 | by ( ) www.cnbc.com sentiment -1.00   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailVimeo CEO Anjali Sud address the stock's tumble after Nasdaq debutVimeo CEO Anjali Sud joins 'Squawk on the Street' to discuss Vimeo's spin-off from IAC and the fall of the company's shares after its Nasdaq debut.
Persons: Anjali, Anjali Sud Organizations: Nasdaq, IAC
Watch CNBC's full interview with Vimeo CEO Anjali Sud
  + stars: | 2021-05-25 | by ( ) www.cnbc.com sentiment -0.99   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Vimeo CEO Anjali SudVimeo CEO Anjali Sud joins 'Squawk on the Street' to discuss Vimeo's spin-off from IAC, the fall of the company's shares after its Nasdaq debut and the future of the company.
Persons: Anjali, Anjali Sud Organizations: IAC, Nasdaq
Online video platform Vimeo plunges in debut after IAC spin-off
  + stars: | 2021-05-25 | by ( ) www.reuters.com sentiment -1.00   time to read: +1 min
Shares of online video platform Vimeo Inc (VMEO.O), which was spun off from InterActiveCorp (IAC.O), were down 9.5% on their debut on Nasdaq on Tuesday. Vimeo was trading on a when-issued basis since last week. Its shares later plunged to $44 each on Tuesday. IAC, which has a history of building businesses and later splitting them into separate companies, had said last year that it was considering spinning off its stake in Vimeo. The company has already spun off its stake in Match Group (MTCH.O), which houses popular online dating services including Tinder, Hinge, and OkCupid.
Organizations: Vimeo, Nasdaq, IAC, Match, Thomson Locations: InterActiveCorp
Check out the companies making headlines in midday trading. Lordstown Motors — The electric vehicle stock sank roughly 12% after the company cut its guidance for production and year-end cash. Shake Shack — Shares of the restaurant company jumped around 7% following a bullish call from Goldman Sachs. Moderna — The pharmaceutical stock edged about 2% higher midday after the company said its Covid-19 vaccine is 100% effective in teens. Vimeo began trading on the Nasdaq today as a standalone public company, with Vimeo shares down about 16% in midday trading.
Persons: Lordstown, Goldman Sachs, Goldman, Moderna, MKM, Petco, Coinbase, — CNBC's Pippa Stevens, Jesse Pound, Tanaya Macheel, Berkeley Lovelace Jr Organizations: Lordstown Motors, Moderna, and Drug Administration, IAC, Interactive, Vimeo, Nasdaq, MKM Partners, JPMorgan
Barry Diller: AT&T is making 'the great escape' with Discovery deal
  + stars: | 2021-05-21 | by ( ) www.cnbc.com + 0.96   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarry Diller: AT&T is making 'the great escape' with Discovery dealTelecom giant AT&T announced Monday a deal to combine its content unit WarnerMedia with Discovery, paving the way for one of Hollywood’s biggest studios to compete with media giants like Netflix and Disney. Barry Diller, IAC and Expedia chairman, joined "Squawk Box" on Friday to discuss the deal.
Persons: Barry Diller Organizations: Discovery, Telecom, Hollywood’s, Netflix, Disney, IAC
IAC chairman Barry Diller called the WarnerMedia-Discovery merger the "great escape" for AT&T. "Ma Bell should be dead and buried by now." Media mogul Barry Diller criticized AT&T's WarnerMedia-Discovery merger in an interview on CNBC's "Squawk Box" that aired on Friday, saying AT&T was using the "power of monopoly" to stay afloat. Diller, the chairman of IAC and Expedia, called the WarnerMedia-Discovery merger the "great escape" for AT&T. Ma Bell should be dead and buried by now," he said, referring to AT&T's old nickname when the company was called Bell Telephone.
Persons: Barry Diller, Ma Bell, Diller, David Zaslav, It's, he's scrappy Organizations: Media, T's, IAC, Bell, Netflix, Disney, Discovery, CNBC
Business mogul Barry Diller on Friday ripped into Apple over the fees it charges companies that have applications on the iPhone maker's App Store. Apple steadfastly defends its policies, saying the money it gets from commission fees goes into maintaining and securing the App Store in a way that ultimately benefits app makers. "The idea that they actually justify it by saying, 'We spend all this money protecting our little App Store,'" Diller said. Apple has a "quasi-monopoly" along with Alphabet's Google, which runs the Google Play app store for Android devices, Diller said. Diller took aim at the way Apple forces in-app transactions to flow through the App Store's payments system.
Persons: Barry Diller, Expedia, Apple, Diller, Tim Cook, you've, NBCUniversal's Peacock Organizations: Apple, IAC, Epic Games, Google, FCC, Fox, Paramount Pictures, CNBC, Netflix, Disney
Netflix has already won the streaming wars, media mogul Barry Diller told CNBC on Friday. "Netflix won this several years ago, they're the only ones who have the scale and momentum to keep making these somewhat lunatic investments in programming," Diller, the chairman of IAC, said in an interview with Andrew Ross Sorkin. "You cannot compete with the momentum, the scale, no one will ever be able to do that." However, Diller said doesn't think the new deal will lead to a company that can take over Netflix's success. Still, the deal can be considered the "great escape" for AT&T, Diller said.
Persons: Barry Diller, Diller, Andrew Ross Sorkin, Disney's, Comcast NBCUniversal's, ViacomCBS, David Zaslav, doesn't, Ma Bell Organizations: Netflix, CNBC, IAC, Disney's Hulu, Disney, Comcast, Paramount, AMC Networks, AMC, T, Apple, YouTube
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCNBC's full interview with Barry Diller on building 'Little Island,' AT&T-Discovery, travel and moreBarry Diller, IAC and Expedia chairman, joined "Squawk Box" on Friday from the newly opened 'Little Island' off of Manhattan to discuss why he funded the building of the park, his take on AT&T's deal with discovery, the travel sector as leaders around the country begin easing pandemic restrictions, cryptocurrency and more.
Persons: Barry Diller Organizations: IAC Locations: Manhattan
Barry Diller on the challenges to build New York City's 'Little Island'
  + stars: | 2021-05-21 | by ( ) www.cnbc.com + 0.94   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarry Diller on the challenges to build New York City's 'Little Island'New York City opened its first ever floating park called "Little Island" on Friday. The park took more than five years to build and was funded by donations from the foundation headed up by Barry Diller, IAC and Expedia chairman, and fashion designer Diane von Furstenberg. Diller joined CNBC's Andrew Ross Sorkin on the island to discuss the project.
Persons: Barry Diller, Diane von Furstenberg, Diller, CNBC's Andrew Ross Sorkin Organizations: IAC Locations: New York, ' New York City
Barry Diller: Apple's App Store 'over charged in a disgusting manner'
  + stars: | 2021-05-21 | by ( ) www.cnbc.com sentiment -1.00   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBarry Diller: Apple's App Store 'over charged in a disgusting manner'Apple CEO Tim Cook is set to take the witness stand Friday to defend the company’s App Store against charges that it has grown into an illegal monopoly. Barry Diller, IAC and Expedia chairman, joined "Squawk Box" on Friday to give his take on the legal battle.
Persons: Barry Diller, Tim Cook Organizations: IAC
IAC chairman Barry Diller: Cryptocurrency 'is a con'
  + stars: | 2021-05-21 | by ( ) www.cnbc.com sentiment -0.50   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIAC chairman Barry Diller: Cryptocurrency 'is a con'Barry Diller, IAC and Expedia chairman, joined "Squawk Box" on Friday to give his thoughts on the cryptocurrency craze.
Persons: Barry Diller, Cryptocurrency Organizations: IAC
Media mogul Barry Diller says cryptocurrencies are a 'con'
  + stars: | 2021-05-21 | by ( Jesse Pound | ) www.cnbc.com sentiment -1.00   time to read: +2 min
Veteran investor and IAC chairman Barry Diller said Friday that he doesn't trust cryptocurrencies and believes that the digital assets are "a con." Other crypto assets, including ether and dogecoin, also declined. Cryptocurrencies had surged in price in the past year as big-name investors and institutions began to embrace the new asset class, in particular bitcoin and ether. Hedge fund veteran Stanley Druckenmiller said earlier this month that a potential dominant cryptocurrency for everyday commerce likely hasn't been invented yet. In the early afternoon on Friday, bitcoin was trading at just over $37,000, according to Coin Metrics.
Persons: Barry Diller, cryptocurrencies, Diller, Elon Musk, Cryptocurrencies, Stanley Druckenmiller, bitcoin Organizations: IAC, Tesla, GameStop, Metrics Locations: U.S, China, bitcoin
IAC Chairman and veteran investor Barry Diller. Michael Seto/Business InsiderBarry Diller, veteran investor and IAC chairman, called cryptocurrencies a "con" during a CNBC interview on Friday. Diller made his comments during this week's crash in bitcoin and other cryptocurrencies that was stoked by regulatory concerns. Cryptocurrencies are a "con," billionaire investor Barry Diller told CNBC on Friday. Next week, IAC is set to spin off video-hosting site Vimeo, whose shares are set to trade under the "VMEO" ticker on Nasdaq starting Tuesday.
Persons: Barry Diller, Michael Seto, Price, Diller, bitcoin, Liu, selloff Organizations: Business, IAC, CNBC, Care.com, Fox Broadcasting, People's Bank of China, Nasdaq Locations: bitcoin, China
People visit Little Island Park, almost three acres of new public park space which sits on stilts over the Hudson River and the remnants of Pier 54 in the larger Hudson River Park, on Manhattan's West Side, during the park's opening day in New York City, New York, U.S., May 21, 2021. The public park on the Hudson River finally opened on Friday nearly seven years after plans were unveiled, thanks to billionaire media mogul Barry Diller, whose $260 million donation has further transformed the once-derelict West Side of Manhattan. The latest addition, nicknamed Diller Island, is "eye candy" and "a charmer, with killer views," according to New York Times architecture critic Michael Kimmelman. The Diller - von Furstenberg Family Foundation of Diller and his wife, the designer Diane von Furstenberg, will pay for maintenance for the park for the next 20 years. Diller also built his IAC (IAC.O) corporate headquarters near the High Line in a building designed by star architect Frank Gehry.
Persons: Mike Segar, Barry Diller, Diller, Michael Kimmelman, Janet Alvarez, Alvarez, von Furstenberg, of Diller, Diane von Furstenberg, Frank Gehry Organizations: REUTERS, New York Times, von Furstenberg Family, of, IAC, Thomson Locations: Little, Hudson, New York City , New York, U.S, Manhattan, District, Lusitania
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