IAC approves spinoff of home improvement marketplace Angi

1. IAC spinoff of Angi approved, closing expected in Q2. 2. Joey Levin transitions to advisor and executive chairman of Angi. 3. Angi reported a 16% revenue decline in Q3, impacting market perception. 4. IAC previously utilized no-CEO models during reorganizations, last in 2013. 5. IAC's spinoff strategy has historically included multiple successful company separations.