IAC has sold for approximately $493 million its 30% equity stake in Jupiter Shop Channel Co., which operates Japan’s largest TV shopping channel.
IAC’s stake in Jupiter Shop Channel was purchased by affiliates of Sumitomo Corp., which already owned the other 70% of Jupiter Shop Channel, based in Tokyo.
The deal closed on Dec. 8.
New York-based IAC operates more than three dozen Internet media businesses in 40 countries. Its properties include Ask.com, CitySearch, Evite, IWon, Match.com and Gifts.com, to name a few.
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