, the Internet conglomerate controlled by Barry Diller, said it's acquired a controlling interest in the popular humor Web site
Financial terms weren't disclosed. But the acquisition gives New York-based IAC a 51% stake in Connected Ventures, the site's parent company. CollegeHumor, which has more than 6 million monthly unique visitors, will join IAC Programming, a business the New York-based company started this year to buy and build online content.
"With its distinct brand of humor, CollegeHumor has emerged as a viral success with an enormously loyal audience among young adults," says Michael Jackson, president of IAC programming, in a statement.
Josh Abramson and Ricky Van Veen, who founded CollegeHumor in 1999, will continue to oversee Connected Ventures, which also runs
BustedTees, a retail business aimed at the CollegeHumor audience.
Shares of IAC, whose other sites include Ticketmaster and HSN, rose 47 cents to $27.80.