CollegeHumor's parent company pulled its funding, laying off more than 100 employees and leaving a longtime executive to run the company on his own
"Sam was the best choice to acquire CH Media and define its next chapter. The decision places CH Media with an owner who is beloved by fans, passionate about the business and sees a future we believe in," an IAC spokesperson said.
The 20-year-old comedy website created over-the-top sketches and pranks, and helped launch the careers of innumerable internet stars. It was acquired by IAC in 2006. . The media and internet company owns more than 150 brands and products, including dating site conglomerate the Match Group, video-sharing platform Vimeo and new site, The Daily Beast. IAC will continue to remain a minority shareholder in CH Media, the company confirmed Wednesday.
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