IAC names CEO Blatt as chairman of newly created group

Thursday, 19 Dec 2013 | 10:20 AM ET

Dec 19 (Reuters) - Barry Diller's IAC/Interactive Corp said Greg Blatt would step down as chief executive and become the chairman of its newly created Match Group, which would include the company's popular dating website Match.com.

Match Group will also include IAC's other dating websites, educational website Tutor.com, fitness portal DailyBurn.com and its investment in Skyllzone.

Shares of the company, whose websites include Ask.com, Dictionary.com and About.com, rose 9 percent in early trading on Thursday.

The U.S. media and entertainment company said Sam Yagan, the chief executive of the Match dating websites unit, would become CEO of the new business.

IAC does not intend to name a new CEO after Blatt steps down, the company said.

IAC also owns content hubs such as Vimeo.com and Diller is the backer of internet TV startup Aereo.

Match.com has been the target of several suits in recent years over false profiles. Launched in 1995, the website claims to have millions of members in 24 countries.

IAC shares were trading at $65.47 on Wednesday morning on the Nasdaq.

(Reporting by Aurindom Mukherjee in Bangalore; Editing by Kirti Pandey)