IAC sells CollegeHumor to executive Sam Reich, resulting in 100+ layoffs

IAC has sold off a majority stake in CH Media, the parent organization behind CollegeHumor . The new owner? CH Media’s chief creative officer Sam Reich. Reich announced the move on Twitter, saying that digital media holding company IAC “made the difficult decision to no longer finance us,” but that it would allow him to…

IAC sells CollegeHumor to executive Sam Reich, resulting in 100+ layoffs

IAC has sold off a majority stake in CH Media, the parent organization behind CollegeHumor . The new owner? CH Media’s chief creative officer Sam Reich.
Reich announced the move on Twitter, saying that digital media holding company IAC “made the difficult decision to no longer finance us,” but that it would allow him to “run with the company.”
He continued, “Of course, I can’t keep it going like you’re used to. While we were on the way to becoming profitable, we were nonetheless losing money — and I myself have no money to be able to lose.”
In fact, Reich said that more tha
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