Interactive Corp.’s Michael Jackson made his first step in assembling a broadband video portfolio for boss Barry Diller, buying a majority stake in Website CollegeHumor.com. IAC now owns 51% of Connected Ventures, parent of the comedy site, which caters to – no surprise – the tastes of frat boys.
Jackson, previously president of Vivendi Universal Entertainment, joined IAC earlier this year to start IAC Programming, buying and building branded online content with an emphasis on developing video products.
CollegeHumor founders Josh Abramson and Ricky Van Veen will continue to oversee the Connected Ventures operations. Allen & Company brokered the deal for Connected Ventures.
Founded in 1999 by Josh Abramson and Ricky Van Veen, Connected Ventures, LLC operates online content and retail properties, including leading comedy site CollegeHumor.com. Connected Ventures is based in New York City.