New York – IAC (NASD: IACI), the media conglomerate whose holdings
include Ask.com, Citysearch, Match.com, The Daily Beast and Vimeo, announced on
Monday that it has extended its search engine and sponsored listings deal with
Google (NASD: GOOG) through 2016.
New York-based IAC said the new deal is comparable to its
previous agreement with Google, which will provide search products and network
partners with sponsored listings and other search-related services.
Search business has grown meaningfully over the past five years, from $58
million in Operating Income Before Amortization in 2006 to $125 million last
year, and generated pre-tax free cash flow in excess of $500 million over that
period," said Greg Blatt, CEO of IAC.
"The industry continues to grow at attractive rates and
we have every opportunity for continued growth and success."