Barry Diller, the billionaire media and tech mogul, is exploring the sale of digital tabloid The Every day Beast, in line with a report Friday.
IAC, the holding company founded by Diller, has hired the advisory firm Whisper Advisors to explore the sale of The Every day Beast, The Recent York Times reported.
The sale process remains to be within the early stages, and a price for the property is just not yet known, the report said.
“IAC doesn’t comment on rumors or speculation,” a rep for the corporate told The Post.
Diller has owned The Every day Beast for 14 years after co-founding the location with longtime editor Tina Brown.
The scrappy digital publication — which drew roughly 15 million visitors in November — has landed some big stories, resembling news that former NFL player Herschel Walker, the Republican nominee for Senate in Georgia, was the father of youngsters he had not previously mentioned publicly.
Diller co-founded The Every day Beast with longtime editor Tina Brown 14 years ago. GC Images
But the location has also struggled financially, turning to digital subscriptions to grow revenue. Currently, the corporate charges $4.99 a month for unlimited access to its coverage, while offering an advertising-supported crossword puzzle five times per week.
In accordance with the Times, The Every day Beast, which operates independently from other IAC brands, also takes a cut of online sales from products it recommends on its site.
The gossip and news site is currently the topic of a lawsuit against a former editorial director of Gawker, who sued the corporate in 2020 for defamation. That case is working its way through the courts and is anticipated to heat up this 12 months. The Every day Beast has said its article is accurate.
The Every day Beast is currently embroiled in a lawsuit against a former editorial director at Gawker.The Every day Beast
Diller’s reported move to sell The Every day Beast comes because the promoting market is squeezing media corporations. Diller, whose company IAC acquired a trove of magazines from Meredith Corp. in 2021, has been digesting that merger. Its portfolio includes digital sites People, Higher Homes and Gardens and Southern Living,
IAC said last 12 months that it was killing the print editions of Entertainment Weekly, InStyle, EatingWell, Health, Parents and People en Español.
