IAC Adds New Board Member After Activist Buys Into Barry Diller-Led Conglomerate

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The Investment Activist of IAC is planning to bring in a new board member following discussions with their investment company.

According to Barry Diller’s conglomerate, Tor R. Braham is set to join their board following productive discussions with Arkhouse Management. Additionally, the company has decided to implement a policy for director resignations, which will apply to nominees who fail to secure more than half of the votes in uncontested elections. This could potentially signal future changes within the board.

The nominating committee chair, Bonnie Hammer, expressed excitement about welcoming Tor Braham to our Board. According to her statement, we anticipate that Mr. Braham’s expertise in technology and finance, along with his previous board service experience, will be beneficial as IAC proceeds with its strategic plans.

Gavriel Kahane, Managing Partner at Arkhouse, stated that we’ve had a productive and considerate conversation with IAC, and he is optimistic that Tor Braham will bring substantial strength to the boardroom as the company focuses on increasing value for all shareholders.

Braham holds a past role as a tech-focused banker at Deutsche Bank and Credit Suisse. Additionally, he is part of the governing bodies for Viavi Solutions and A10 Networks.

Arkhouse holds a substantial portion of shares in IAC, and is reportedly concerned about the disparity between IAC’s market worth and the true value of its assets. Specifically, IAC’s ownership in the prominent casino company MGM has been a contentious issue among investors, as the book value of that stake is roughly equivalent to IAC’s entire market capitalization.

The company, historically focused on the real estate industry, recently brought on board Richard Mansouri from Elliott Management to assist in broadening its areas of operation this year.

Since earlier this year, Diller has been personally overseeing IAC following the departure of former CEO Joey Levin. Now, IAC’s top business executives report directly to him. IAC holds shares in companies such as MGM and Turo, and owns assets like Dotdash Meredith and Care.com.

As a passionate observer, it seems like activist groups are zeroing in on businesses linked to the media sector, given the volatile economic climate we’re experiencing. Interestingly, Warner Bros. Discovery recently welcomed a new board member following pressure from Sessa Capital – a move that underscores this trend.

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2025-04-29 16:54