Exhibit 99.1

IAC REPORTS Q4 RESULTS

NEW YORK— February 1, 2012—IAC (Nasdaq: IACI) released fourth quarter 2011 results today.

SUMMARY RESULTS

$ in millions (except per share amounts)

See reconciliation of GAAP to non-GAAP measures beginning on page 11.

·                        Q4 revenue and Operating Income Before Amortization reached record levels, with strong double-digit growth for the 8th consecutive quarter.  Operating Income Before Amortization grew 88% to $90.9 million, which included the write-off of $23.0 million in deferred revenue related to the Meetic acquisition.

·                        Free Cash Flow for the twelve months ended December 31, 2011 was $332.4 million, up 32% over the prior year, while cash flow from operating activities attributable to continuing operations was $372.4 million, up 9% over the prior year.

·                        IAC repurchased 4.6 million shares of common stock between October 29, 2011 and January 27, 2012 at an average price of $41.70 per share, or $191.2 million in aggregate.

·                        IAC declared a quarterly cash dividend of $0.12 per share to be paid on March 1, 2012 to stockholders of record as of the close of business on February 15, 2012.

·                        Q4 Adjusted Net Income and Adjusted EPS more than doubled from the year ago period.

·                        Q4 net income and GAAP EPS comparisons were impacted by certain discrete items as further described herein.  Collectively, the net impact of these items benefited Q4 2010 net income and GAAP EPS by $77.4 million and $0.80 per share, respectively, but had no impact on Adjusted Net Income and Adjusted EPS.

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DISCUSSION OF FINANCIAL AND OPERATING RESULTS

Search

Search includes Mindspark, our digital consumer products business consisting of our B2C operations, through which we develop, market and distribute downloadable applications, and our B2B operations, which provide customized browser-based applications for software and media companies; destination websites, including Ask.com and Dictionary.com, through which we provide search and additional services; and CityGrid Media, an online media company that aggregates and integrates local content and ads and distributes them to publishers across web and mobile platforms.

Search revenue reflects strong growth from Mindspark’s B2B operations, destination websites and Mindspark’s B2C operations.  CityGrid Media revenue increased slightly from the year ago period.  The revenue growth in B2B was driven by increased contribution from both existing and new partners.  The increase in B2C revenue was driven primarily by increased marketing and new products launched since the year ago period.  The revenue growth in destination websites reflects strong query gains driven primarily by increased marketing and content optimization. Profits were favorably impacted by higher revenue and lower operating expense, partially offset by higher cost of acquisition as a percentage of revenue.  Operating expense decreased primarily due to the inclusion in the prior year period of certain restructuring costs and our direct sponsored listing business, which we sold in November 2011, as well as lower litigation related expenses in the current year period. Operating income in the prior year period reflects an impairment charge of $11.0 million related to an intangible asset of IAC Search & Media.

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Match

Match Core(1) revenue increased 16% to $105.2 million driven by growth in subscribers.  Match Developing(2) revenue of $17.4 million remained flat as the revenue from OkCupid, which was not in the year ago period, and the growth in the non-Meetic international businesses were offset by lower subscription revenue from Singlesnet as we continued to reduce the marketing of this service.  Match Core and Developing revenue collectively increased by 13% to $122.6 million.  Meetic(3) revenue of $35.0 million was negatively impacted by the write-off of $23.0 million of deferred revenue in connection with its acquisition.

Operating Income Before Amortization, excluding Meetic’s results, increased by 23% to $47.6 million.  Operating Income Before Amortization was favorably impacted by higher revenue and lower customer acquisition costs as a percentage of revenue, partially offset by higher operating expense as a percentage of revenue.  Profits at Meetic were negatively impacted by the aforementioned write-off of deferred revenue.  Operating income in the current year period reflects an increase of $10.3 million in amortization of intangibles and $1.2 million in non-cash compensation expense primarily due to the acquisition of Meetic.

ServiceMagic

ServiceMagic revenue reflects growth in both its domestic and international operations.  Domestic revenue grew due to higher average lead acceptance fees and a 5% increase in service request accepts.  Average lead acceptance fees benefited from price optimization.  Service request accepts benefited from an increase in service requests, partially offset by lower accepts per service request.  International revenue grew due to higher average lead acceptance fees and a 21% increase in service request accepts.  Profits were favorably impacted by higher revenue and operating expense leverage.  Operating income in the current year period reflects an increase of $1.0 million in amortization of intangibles related to certain trademarks.

Media & Other

Media & Other includes Electus, CollegeHumor, Notional, Vimeo, Pronto, Shoebuy and Hatch Labs.  The increase in revenue primarily reflects growth at Pronto, Electus, Shoebuy and Vimeo.  Operating Income Before Amortization loss decreased primarily due to the inclusion of losses related to The Daily Beast in the prior year period, which, following the formation of the joint venture with Harman Newsweek on January 31, 2011, has been accounted for as an equity method investment.  Excluding the results of The Daily Beast in the prior year period, Operating Income Before Amortization loss increased slightly primarily due to Electus and Hatch Labs.  Operating loss in the prior year period includes a $32.6 million impairment charge related to the goodwill and intangible assets of Shoebuy.

Note 1:        Match Core consists of Match.com in the United States, Chemistry and People Media.

Note 2:        Match Developing consists of OkCupid, Singlesnet, mobile-only products and non-Meetic international operations.

Note 3:        Meetic consists of the publicly traded personals company Meetic S.A., which operates principally in Europe.

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Corporate

Corporate expenses decreased primarily due to $5.3 million in transaction expenses related to the Liberty Exchange in the prior year period, partially offset by higher compensation expense.  Operating loss in 2011 was impacted by a decrease of $3.3 million in non-cash compensation expense, which is primarily due to the effect in the prior year period of the reassessment of the number of performance-based restricted stock units that are expected to vest.

OTHER ITEMS

Equity in losses of unconsolidated affiliates in Q4 2011 includes $9.6 million in losses related to The Newsweek Daily Beast Company of which $5.7 million relates to an impairment charge for goodwill and intangible assets.  Other income (expense) in Q4 2010 reflects a $7.8 million pre-tax write-down of a cost method investment.

On December 1, 2010, IAC completed the tax-free exchange of the capital stock of its wholly-owned subsidiary that held Evite, Gifts and IAC Advertising Solutions and approximately $218 million in cash for Liberty Media Corporation’s remaining 12.8 million shares in IAC (the “Liberty Exchange”).  Discontinued operations in Q4 2010 includes a $140.8 million gain related to the Liberty Exchange and a $21.5 million after-tax loss related to the shutdown of InstantAction.

The effective tax rates for continuing operations and Adjusted Net Income in Q4 2011 were 5% and 16%, respectively.  The effective tax rates were lower than the statutory rate of 35% due principally to the reduction in reserves following the favorable results of state and foreign audits, adjustments related to the reconciliation of tax returns to accruals and foreign income taxed at lower rates, partially offset by state taxes and interest on tax contingencies.  The tax provision for continuing operations was $5.1 million in Q4 2010 on a pre-tax loss of $27.6 million. The continuing operations tax provision, despite a pre-tax loss, was due principally to non-deductible impairment charges related to goodwill and intangible assets, non-deductible transaction costs related to the Liberty Exchange, interest on tax contingencies and state taxes, partially offset by a net reduction in tax reserves primarily due to expiring statutes and foreign income taxed at lower rates. The Q4 2010 effective tax rate for Adjusted Net Income was 34% and was lower than the statutory rate of 35% due principally to a net reduction in tax reserves primarily due to expiring statutes and foreign income taxed at lower rates, partially offset by state taxes and non-deductible transaction costs related to the Liberty Exchange.

The December 31, 2010 consolidated balance sheet on page 9 has been restated to reflect a $380.9 million deferred income tax liability. The Company determined that the original deferred income tax provision recorded in 2002 in connection with a series of transactions, which included the exchange of certain of the Company’s media businesses for certain other assets, was incorrectly calculated and allocated. As a result, the Company’s consolidated financial statements as of December 31, 2010 failed to reflect a deferred income tax liability of $380.9 million. Accordingly, the Company has restated its December 31, 2010 consolidated balance sheet to reflect this liability and made certain

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related reclassifications of other deferred income tax balances. This adjustment had no impact on the Company’s consolidated statement of operations or consolidated statement of cash flows.

This deferred income tax liability is non-cash in nature as it can be effectively permanently deferred as long as the Company maintains the relevant portions of its organizational structure (which it fully intends to do). The Company does not anticipate any circumstances in which the deferred income tax liability would be realized.

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LIQUIDITY AND CAPITAL RESOURCES

During Q4 2011, IAC repurchased 2.8 million common shares at an average price of $41.55 per share.  As of December 31, 2011, IAC had 82.9 million common and class B common shares outstanding.  IAC may purchase shares over an indefinite period of time on the open market and in privately negotiated transactions, depending on those factors IAC management deems relevant at any particular time, including, without limitation, market conditions, share price and future outlook.  As of January 27, 2012, the Company had 6.9 million shares remaining in its stock repurchase authorization.

IAC’s Board of Directors declared a regular quarterly cash dividend of $0.12 per share of common and Class B common stock outstanding to be paid on March 1, 2012 to stockholders of record as of the close of business on February 15, 2012. Based on our current shares outstanding, we estimate the payment for this dividend will be approximately $10.4 million.

During Q4 2011, the Company received cash proceeds of $76.0 million and issued 3.2 million shares in connection with the exercise of warrants. As of December 31, 2011, IAC had $869.8 million in cash, cash equivalents and marketable securities and $95.8 million in long-term debt.

OPERATING METRICS

(a)    Proprietary includes B2C operations and destination websites. Network includes B2B operations, distributed search and sponsored listings.

(b)   Fully completed and submitted customer service requests on ServiceMagic.

(c)    The number of times service requests are accepted by service professionals. A service request can be transmitted to and accepted by more than one service professional.

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DILUTIVE SECURITIES

IAC has various tranches of dilutive securities.  The table below details these securities as well as potential dilution at various stock prices (shares in millions, rounding differences may occur).

(1)       On May 7, 2012 two tranches of warrants representing 14.3 million shares will expire. One of the tranches, representing 9.8 million shares, has an exercise price of $26.86 per share. The other tranche, representing 4.5 million shares, has an exercise price of $31.75 per share.

CONFERENCE CALL

IAC will audiocast its conference call with investors and analysts discussing the Company’s Q4 financial results on Wednesday, February 1, 2012 at 11:00 a.m. Eastern Time (ET). This call will include the disclosure of certain information, including forward-looking information, which may be material to an investor’s understanding of IAC’s business.  The live audiocast is open to the public at www.iac.com/investors.

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GAAP FINANCIAL STATEMENTS

IAC CONSOLIDATED STATEMENT OF OPERATIONS

($ in thousands except per share amounts)

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IAC CONSOLIDATED BALANCE SHEET

($ in thousands)

(1)  The December 31, 2010 consolidated balance sheet has been restated.  See page 4 for additional information. 

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IAC CONSOLIDATED STATEMENT OF CASH FLOWS

($ in thousands)

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RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES

IAC RECONCILIATION OF OPERATING CASH FLOW FROM CONTINUING OPERATIONS TO FREE CASH FLOW

($ in millions; rounding differences may occur)

For the twelve months ended December 31, 2011, consolidated Free Cash Flow increased by $80.0 million from the prior year period due principally to an increase in Operating Income Before Amortization, partially offset by higher cash income tax payments in 2011.

IAC RECONCILIATION OF GAAP EPS TO ADJUSTED EPS

(in thousands except per share amounts)

For Adjusted EPS purposes, the impact of RSUs on shares outstanding is based on the weighted average number of RSUs outstanding as compared with shares outstanding for GAAP purposes, which includes RSUs on a treasury method basis. The weighted average number of RSUs outstanding for Adjusted EPS purposes includes the weighted average number of performance and market-based RSUs that the Company believes are probable of vesting. There are no performance-based RSUs included for GAAP purposes.

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IAC RECONCILIATION OF SEGMENT NON-GAAP MEASURE TO GAAP MEASURE

($ in millions; rounding differences may occur)

IAC RECONCILIATION OF SEGMENT NON-GAAP MEASURE TO GAAP MEASURE

($ in millions; rounding differences may occur)