IAC Joins with Ben Sherwood and Joanna Coles in Strategic Partnership to Define The Daily Beast's Next Chapter

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[{"type":"text","content":"NEW YORK, April 15, 2024 /PRNewswire/ -- IAC (NASDAQ: IAC) announced a new strategic partnership today with Ben Sherwood and Joanna Coles to lead The Daily Beast. Effective immediately, Sherwood will serve as Publisher and CEO and Coles as Chief Creative and Content Officer. As strategic partners, both will share a substantial interest in the company. Specific terms of the partnership were not disclosed.\n\n \n \n \n \n \n \n\n \nEmbracing The Daily Beast's founding vision to deliver riveting journalism with bite and flair, the combination of Sherwood and Coles intends to revitalize the 16-year-old news and opinion platform as an indispensable source of scoops and scandals for the modern media age.\n\"These are tough times for digital journalism, but the combined experience, expertise and energy of Ben and Joanna have made me an optimist about their ability to make The Beast an enduring and successful enterprise,\" said Barry Diller, Chairman and Senior Executive, IAC.\n\"Timing is everything, and the current media hellstorm feels like the ideal moment to jump back into journalism,\" said Sherwood who left The Walt Disney Company in 2019 to start a sports technology platform. \"Yes, everything feels upside down right now with busted business models and transformative technology. With so much disruption—or maybe because of it—we believe this is the ideal entrepreneurial opportunity to deliver on The Beast's insurgent promise. We are excited to work with the dynamic team at The Beast, cultivate and recruit great talent, and help unleash its populist potential.\"\n\"Tina Brown's original vision of The Beast as a sophisticated tabloid is even more relevant today,\" said Coles. \"Our pirate mission is to cover the stories and people that grab us and have fun along the way. Yes, these are serious times and we will track the conflict flaring in the Middle East, but our arrival at The Beast also coincides with the opening of the Trial of the Century and so you can expect all out coverage at the courthouse with our Senior Where-is-Melania Reporter and our Chief Hope Hicks Correspondent.\"\nContinued Coles: \"We're bringing The Beast back to its rebel roots and will build on its beloved DNA to make it even beastier. Our fearless investigative team will break even more stories on the end of democracy. And obviously our Chief Fruit and Vege...

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