Barry Diller’s IAC to spin off Tinder, other dating sites

Barry Diller’s IAC on Friday outlined its proposal to spin off its shares of Tinder parent Match Group.

The move would see IAC, which also controls Vimeo and Angie’s List, divest its shares of Match — its most valuable asset — “resulting in two independent public companies,” according to IAC.

“Today IAC proposed an important first step in the separation of Match Group from IAC,” IAC chief executive Joey Levin said in a statement. “IAC is confident that the proposal communicated to the Match Group special committee provides strong footing for Match Group to begin its journey as a thriving, independent company.”

The proposal would see Match Group, which is 80% owned by IAC, scrap its dual-class stock structure as an independent entity.

The announcement boosted IAC’s stock price, which was trading up 1.7% Friday afternoon, at $228.72.

“It makes sense for both Match and IAC shareholders,” Lightshed analyst Brandon Ross told The Post. “[IAC has] been trading at far less than the sum of its parts. They needed to figure out a way to highlight the value of the assets that are in their portfolio.”

Ross said he doesn’t think the IAC factored in any of the messy Tinder lawsuits it has been dealing with for the spinoff, including a sexual harassment lawsuit against Tinder’s former CEO, who recently fired back with his own defamation suit against his accuser, former Tinder vice president of communications Rosette Pambakian.

IAC is also battling a lawsuit filed by Tinder co-founder Sean Rad and other Tinder co-founders who say IAC undervalued Tinder during negotiations over stock options — bilking them out of $2 billion. IAC, in turn, has sued Rad for f stealing company secrets before he was fired.

“If you think about the history of IAC, this is what they’ve done,” Ross said of the Match spinoff. “It’s a company that has consistently reinvented itself over time.”

IAC, which kicked off in 1995 as Silver King Communications, has previously spun off companies like Ticketmaster and Expedia. The spinoff, Ross said, will give IAC the flexibility to pursue new innovation.

The company in August had said that it was exploring spinning off both Match Group and ANGI Homeservices. On Friday, Levin noted that IAC doesn’t “currently expect to turn our attention to the question of a spinoff until a Match group transaction has been completed.”