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IAC/InterActiveCorp's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Finally, Media and Other, as we mentioned has now been separate in these two segments to group the businesses together the way we think about and manage them internally. Media includes Electus and Vimeo, both of which saw approximately double or more revenue versus the prior period a year ago, as well as CollegeHumor, Notional and DailyBurn. Media now also includes Newsweek Daily Beast, given our consolidation of that business at the end of May.

Looking forward to the remainder of the year, we expect topline growth in the segment to continue, driven primarily by Electus and Vimeo. Revenue will further increase year-over-year from the addition of Newsweek Daily Beast.

We also now expect OIBA loss for this segment in a range of $20 million to $25 million for the second half of the year, with the majority of the OIBA loss coming in the third quarter, given both expanded investment across our Media businesses and a consolidation of Newsweek Daily Beast.

Finally, in other, which includes Shoebuy as well as some of our early-stage investments like Hatch Labs and (inaudible) we'll continue to invest with second half losses approximating first-half results.

With that we'll take your questions. Operator?

Unidentified Company Speaker

Do we have an operator?

Question-and-Answer Session


Pardon me. Your first question comes from the line of Mark Mahaney of Citigroup. Your line is open.

Mark Mahaney – Citigroup

Thank you, thanks for the greater disclosure by the way in the Search & Applications segment. So could you just go through why your outlook for the Search revenue in the back half of the year may have changed from flattish to sequentially to a little bit of growth and then, just through those margins, it looks like you're guiding to margins in the back half of the year, maybe down a little bit from the first of the year, but I know flattish year-over-year, is that just a normal seasonal that the investments in the business, is there any particular reason to think that 20%, 21% isn’t the right kind of margin level for the business for long-term? Thank you.

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