We reported earlier that MySpace is keen at buying out the startups at times like these at cheap prices and today IAC followed the same footsteps. IAC CEO, Barry Diller addressed the audience at the Reuters Media Summit that his company would be eyeing acquiring more properties by March. The reason is most probably the flood of $2.2 billion in cash next year. Diller stated:
My sense is that we wouldn’t be purchasers of our own stock and that’s because tomorrow will present unknown opportunities…
In entertainment and media, I think there’s going to be a ‘cascade’ of acquisition opportunities
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[...] many a firms finding it impossible to survive in the tough economic times, giants in business seem eager to gulp them down at rock bottom price. Dell has decided to do the same, with idea to grow [...]