IAC Gets Into Content Business

Diller's company invests in Daily Beast and Silverman's Electus.

Barry Diller's IAC is ready to invest in content production to make content a potential new core business.

During his Internet firm's third-quarter earnings call, Diller said the investments would likely be "less than 10%" of the about $1.8 billion that IAC had in cash as of Sept. 30 over the next several years.

IAC's emerging content businesses include such things as CollegeHumor, Tina Brown's the Daily Beast and a partnership with Ben Silverman on his new production outfit, whose name Diller confirmed as Electus on Tuesday.

Read more at the Hollywood Reporter.