IAC Hires City Lights Media Talent

IAC chairman and CEO Barry Diller announced at Fortune magazine’s Brainstorm: TECH summit in Pasadena, Calif., that IAC will hire talent from video-production company City Lights Media and pair them with its own CollegeHumor.

Diller said the addition of the City Lights talent would allow CollegeHumor to increase its original-video production.

Diller had lots more to say in an interview with Fortune managing editor Andy Serwer in Pasadena.

On IAC:

We’re’ not deal junkies…we just follow the opportunity. We built up a company that had at any given moment $25 billion of assets and it was, I found, an unwieldy conglomerate.

On wife Diane Von Furstenberg‘s Facebook friends:

You build up thousands of these friend requests…my wife has I think 87,000 friends. Anyway, I don’t have any friends.

On The Daily Beast:

Our strategy for it is to build up its audience…Yes, we’re a company that we don’t splurge recklessly…but this is not a hard thing for us to finance…What we’re doing is, we did take an ad recently, and if anyone saw it, it was a completely different kind of advertising than anything else on the Internet…It was art advertising, like you’d see in Vanity Fair…beautifully displayed and integrated into the feeling of the site…The chance for The Daily Beast is that you’ll have advertising as unique and original as its content…but that will take us years to develop.

REVISED at 4:35 p.m. ET to correct editorial error.

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