On Dec 10, IAC Inc Receives Non-Nenewal Notice From Google For Google Services Agreement

On December 10, 2025, IAC, Inc., a Delaware corporation (the "Company" or "IAC") received a notice (the "Notice") of non-renewal from Google LLC ("Google") of the Google Services Agreement, dated as of April 1, 2016, by and among the Company, IAC Search & Media Europe Limited, Google and Google Ireland Limited (as subsequently amended, the "Services Agreement"). The Services Agreement is scheduled to expire on March 31, 2026. The Notice eliminated the one-year automatic extension of the Services Agreement that otherwise would have been effective from April 1, 2026 through March 31, 2027. Under the Services Agreement, Google supplies paid listings to the Company.  

 

Google has indicated that it expects to propose revised terms for an agreement to take effect upon the expiration of the Services Agreement; however, the outcome of discussions with Google, including whether an agreement on revised terms will be proposed or entered into, remains uncertain.  

 

All revenue attributable to the Services Agreement is earned exclusively by the Company's Search segment, which generated $183.9 million of Revenue, $10.0 million of Operating Income and $10.0 million of Adjusted EBITDA for the nine-month period ended September 30, 2025. The Company earns certain other advertising revenue from Google that is not attributable to the Services Agreement, and such advertising revenue is not affected by the Notice.