ServiceMagic 2013 Annual Report Download - page 6

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Table of Contents
In early 2014, we acquired the remaining publicly traded shares of Meetic for approximately $72 million through a successful tender offer in
France and the businesses within ValueClick’s “Owned and Operated” reporting segment, including Investopedia and PriceRunner, for $80
million.
EQUITY OWNERSHIP AND VOTE
IAC has outstanding shares of common stock, with one vote per share, and Class B common stock, with ten votes per share and which are
convertible into common stock on a share for share basis. As of January 31, 2014, Barry Diller, IAC's Chairman and Senior Executive, owned
5,789,499 shares of Class B common stock (the "Diller Shares") representing 100% of IAC's outstanding Class B common stock and
approximately 43.1% of the outstanding total voting power of IAC.
Pursuant to an agreement between Mr. Diller and IAC, certain transfer restrictions apply to 1.5 million of the Diller Shares, including a
requirement that, until December 1, 2015 and except for transfers to certain permitted transferees, the Diller Shares must first be converted into
common stock in order to be transferred. In addition, pursuant to an amended and restated governance agreement between IAC and Mr. Diller,
IAC's ratio of total debt to EBITDA (as defined in the governance agreement) equals or exceeds four to one over a continuous twelve-month
period.
As a result of Mr. Diller's ownership interest, voting power and the contractual rights described above, Mr. Diller is currently in a position to
actions requiring shareholder approval, such as mergers, business combinations and dispositions of assets, among other corporate transactions.
3