Description:
In this episode, Jonathan Boyar welcomes Chris Halpin, Executive Vice President, Chief Operating Officer, and Chief Financial Officer of IAC—a holding company known for its savvy capital allocation and track record of building internet leaders like Expedia, Match Group, and Ticketmaster.
Chris brings a unique perspective shaped by senior roles at the NFL and Providence Equity before joining IAC. He and Jonathan explore how IAC is navigating today’s market, why the stock is significantly undervalued, and how the company is positioning key holdings like Dotdash Meredith, Turo, and Care.com for long-term success.
Whether you're an investor, media strategist, or just someone fascinated by the business of the internet, this episode offers a front-row seat to how IAC is building value in unconventional and often overlooked digital businesses.
Topics Discussed
Chris’s unique journey from private equity to the NFL to IAC
The transformation of Dotdash Meredith
The business case behind IAC’s OpenAI partnership
How IAC is thinking about Turo’s valuation, growth trajectory, and timing around a potential IPO
Margin structure and monetization strategy in digital media
IAC’s approach to valuation, capital allocation, and market mispricing
“Sacred cows” and how IAC avoids them
Lessons from working with media rights at the NFL
Why Chris thinks IAC is trading at a dramatic discount to fair value
Important Disclosures. The information herein is provided by Boyar’s Intrinsic Value Research LLC (“Boyar Research”) and: (a) is for general, informational purposes only; (b) is not tailored to the specific investment needs of any specific person or entity; and (c) should not be construed as investment advice. Boyar Research does not offer investment advisory services and is not an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”) or any other regulatory body. Any opinions expressed herein represent current opinions of Boyar Research only, and no representation is made with respect to the accuracy, completeness or timeliness of the information herein. Boyar Research assumes no obligation to update or revise such information. In addition, certain information herein has been provided by and/or is based on third party sources, and, although Boyar Research believes this information to be reliable, Boyar Research has not independently verified such information and is not responsible for third-party errors. You should not assume that any investment discussed herein will be profitable or that any investment decisions in the future will be profitable. Investing in securities involves risk, including the possible loss of principal. Important Information: Past performance does not guarantee future results.
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