Top 4th of July Sales Best 4K Projectors 7 Early Prime Day Deals Wi-Fi Range Extenders My Favorite Summer Gadgets Cheap Car Insurance Target's 4th of July Sale Best Running Earbuds, Headphones

IAC hands over joint venture

The comedy site was created as a collaboration between IAC and the Huffington Post. Now it'll become a wholly owned Huffington Post property and be rebranded in the process., a comedy site developed as a joint venture between liberal news site The Huffington Post and Barry Diller's IAC/InterActiveCorp, will be a joint venture no more. The site will become a Huffington Post subsidiary and is slated to be re-branded as "Huffington Post Comedy." Financial terms were not disclosed.

"After a successful first year as a standalone comedy site we are excited to bring 236 into The Huffington Post as we launch our comedy vertical," Huffington Post co-founder and namesake Arianna Huffington said in a release Tuesday. "We look forward to creating a section that serves not only as a one-stop-shop for humor with a satirical take on the news but a spirited community for all comedy lovers."

Reports surfaced in December that IAC was looking to spin off some of its smaller properties, possibly among them.

Though it began as a political news site, the Huffington Post has gradually expanded into other news and lifestyle areas to broaden its coverage. The "Comedy" section created from will join sections like entertainment, media, and "green" news.

The Huffington Post closed a $25 million funding round in December.