Transat A.T. Inc. is an international, vertically integrated tour operator with nearly 20 business units in 8 countries. The company is headquartered in Montreal , Quebec , Canada .
41-429: IAC Inc. is an American holding company that owns brands across 100 countries, mostly in media and Internet . The company originated in 1996 as HSN Inc. as the holding company of Home Shopping Network and USA Network before changing its name to USA Networks, Inc. in 1999 and its television assets were sold to Vivendi in 2002. Those are now owned today by NBCUniversal , a subsidiary of Comcast . The company
82-544: A $ 720 million deal. The plan was "expected to face intense scrutiny from the Competition Bureau and other regulatory authorities, including in Europe", according to CBC News. In October 2020, the sale price for Transat AT was reduced from C$ 18 to C$ 5 per share. The closing of the deal is expected for early 2021. In February 2021, the federal government has approved the 190 million deal (or $ 5/share). The impact of
123-599: A controlling stake in Ticketmaster Group in July 1997, and then acquired the rest of the company in June 1998. In February 1998, it acquired the television assets of Universal Studios (including USA Network , Sci-Fi Channel , and Universal Television 's domestic production and distribution arms) for $ 4.1 billion. The company's name was changed to USA Networks, Inc. at this point. Continuing its acquisition strategy,
164-411: A definitive agreement with Angie's List to combine HomeAdvisor , a digital marketplace for maintenance and repair services, and Angie's List into a new publicly traded company named ANGI Homeservices Inc. In March 2021, the company changed its name to Angi. IAC's board of directors consists of the following members: Holding company A holding company is a company whose primary business
205-891: A five hotel, 1,600-room joint venture with the major Spanish chain H10 Hotels in Mexico and the Dominican Republic. In 2010, Transat became an outgoing tour operator in Mexico, when it founded Eleva Travel. In Canada, Transat has nearly 600 travel agencies and is the largest travel agency network since the acquisition of the Thomas Cook agencies in 2006. Brands include Club Voyages, Voyages en Liberté, Marlin Travel, and TravelPlus. With thousands of tourism service providers in some 60 countries (including about 50 airlines and 1,500 hotels) and more than 5,000 employees catering to
246-430: A minority owner of Reich's rebranded company Dropout . As a result of the restructuring, more than 100 employees of CollegeHumor were laid off. In February, IAC completed its $ 500 million acquisition of Care.com. In July 2020, IAC and Match Group announced the successful completion of the separation of Match Group from the remaining businesses of IAC. As a result of the separation, Match Group's dual class voting structure
287-509: A new company and keeps majority shares with itself, and invites other companies to buy minority shares, it is called a parent company. A parent company could simply be a company that wholly owns another company, which is then known as a " wholly owned subsidiary ". Transat A.T. In May 2021, Jean-Marc Eustache, then CEO and one of the principal founders of the company, announced he would retire, with Annick Guerard (previously COO) becoming president and CEO effective May 27, 2021. Transat
328-600: A new company named Vivendi Universal Entertainment, led by Diller. Throughout this transition, USA Networks continued to build up its online portfolio. In July 2001, the company entered the online travel business with its acquisition of Expedia , followed the next year by an acquisition of Interval International . Following the shift in focus to online assets, the company changed its name to USA Interactive ( USAI ) in May 2002; InterActiveCorp in June 2003; and finally to IAC/InterActiveCorp in July 2004. In August 2003, IAC acquired
369-527: A parent company material influence if they are the largest individual shareholder or if they are placed in control of the running of the operation by non-operational shareholders.) In the United Kingdom, the term holding company is defined by the Companies Act 2006 at section 1159. It defines a holding company as a company that holds a majority of the voting rights in another company, or
410-639: A series of acquisitions in order to solidify its position as an outgoing tour operator in Canada and France, as well as to develop new destination markets. In 1988, Transat expanded its presence in retail distribution considerably with the acquisition of an interest in the franchisor Consultour. The company had broken into the French market very early on with Vacances Transat (France), the largest tour operator offering travel to Canada, and soon expanded within France,
451-643: Is a member of another company and has the right to appoint or remove a majority of its board of directors, or is a member of another company and controls alone, pursuant to an agreement with other members, a majority of the voting rights in that company. After the financial crisis of 2007–2008 , many U.S. investment banks converted to holding companies. According to the Federal Financial Institutions Examination Council 's website, JPMorgan Chase , Bank of America , Citigroup , Wells Fargo , and Goldman Sachs were
SECTION 10
#1732801966429492-563: Is actually called: IAC Inc. In October, IAC agreed to sell its workforce-as-a-service platform Bluecrew to EmployBridge with IAC remaining a minority shareholder in Bluecrew's business. IAC's businesses are categorized into distinct segments for the purposes of financial reporting. Those segments are labelled by the company as Angi Inc., Dotdash Meredith, Search, and Emerging and Other. Each business listed may have multiple brands connected to it. On May 1, 2017, IAC announced it had entered into
533-478: Is defined by Part 1, Section 5, Subsection 1 of the Companies Act, which states: 5.—(1) For the purposes of this Act, a corporation shall, subject to subsection (3), be deemed to be a subsidiary of another corporation, if — In the United Kingdom, is generally held that an organisation holding a 'controlling stake' in a company (a holding of over 51% of the stock) is in effect the de facto parent company of
574-461: Is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own stock of other companies to form a corporate group . In some jurisdictions around the world, holding companies are called parent companies , which, besides holding stock in other companies, can conduct trade and other business activities themselves. Holding companies reduce risk for
615-631: Is incorporated under Delaware General Corporation Law and headquartered in New York City . Joey Levin , who previously led the company's search and applications segment, has served as chief executive officer since June 2015. IAC was established in 1986 as Silver King Broadcasting Company , as part of a plan to increase viewership of the Home Shopping Network (HSN) by purchasing local television stations. By 1988, Silver King had bought 11 stations for about $ 220 million. The company
656-481: The broadcast licenses to reflect this, resulting in stations that are (for example) still licensed to Jacor and Citicasters , effectively making them such as subsidiary companies of their owner iHeartMedia . This is sometimes done on a per- market basis. For example, in Atlanta both WNNX and later WWWQ are licensed to "WNNX LiCo, Inc." (LiCo meaning "license company"), both owned by Susquehanna Radio (which
697-442: The shareholders , and can permit the ownership and control of a number of different companies. The New York Times uses the term parent holding company . Holding companies can be subsidiaries in a tiered structure . Holding companies are also created to hold assets such as intellectual property or trade secrets , that are protected from the operating company. That creates a smaller risk when it comes to litigation . In
738-521: The Home Shopping Network, Ticketmaster, and Interval International. In 2009, IAC acquired Urbanspoon and People Media, and launched the production company Notional. IAC would later sell Urbanspoon to Zomato in 2015. IAC's largest shareholder, Liberty Media, exited the company in 2010, following a protracted dispute over the 2008 spinoffs. Liberty traded its IAC stock for $ 220 million in cash, plus ownership of Evite and Gifts.com. On
779-506: The United Kingdom and the rest of Europe. It acquired French tour operator Look Voyages in 1996, Greek incoming tour operator Tourgreece in 2001, British tour operator Canadian Affair in 2006, and French tour operator Amplitude Internationale (today Amplitravel), which specializes in travel to Tunisia, in 2007. At its destinations, the company opened offices in Mexico, the Dominican Republic and Florida in order to be able to provide its customers with complementary services. In 2007, Transat created
820-509: The United States, 80% of stock, in voting and value, must be owned before tax consolidation benefits such as tax-free dividends can be claimed. That is, if Company A owns 80% or more of the stock of Company B, Company A will not pay taxes on dividends paid by Company B to its stockholders, as the payment of dividends from B to A is essentially transferring cash within a single enterprise. Any other shareholders of Company B will pay
861-441: The approximately 3 million people who travel every year, Transat is one of the leaders in the international tourism industry. In 2012, Transat A.T. sold its Handlex business unit, which provides airport ground-handling services at Montreal, Toronto and Vancouver international airports. Handlex was acquired by Servisair Holding Canada Inc, which is now fully integrated to Swissport . On 16 May 2019, Transat AT Inc. announced it
SECTION 20
#1732801966429902-667: The company acquired the Hotel Reservations Network in May 1999 for $ 149 million. USA Networks merged the online division of Ticketmaster with city guide website Citysearch in September 1998, establishing a new company that went public as Ticketmaster Online–CitySearch (TMCS). USA then sold Ticketmaster proper to TMCS in 2001, retaining a 61 percent share in the combined company, which became known as simply Ticketmaster. USA brought Ticketmaster back under full ownership in 2003, purchasing all outstanding shares. In
943-485: The company bundled together its travel-related sites and spun them off as a new public company, Expedia, Inc. Additional acquisitions in 2006 included ShoeBuy.com , which the company later sold to Jet , and Connected Ventures including CollegeHumor and Vimeo . In May 2008, IAC and Ask.com acquired Lexico , the owner of Dictionary.com , Thesaurus.com, and Reference.com . In August 2008, IAC spun off several of its businesses, including: Tree.com (formerly LendingTree),
984-463: The early 2000s, USA Networks began divesting itself of its traditional television broadcasting and production units. In May 2001, Univision Communications acquired USA Broadcasting (a division of USA Networks including 13 local stations). The next year, Vivendi bought the rest of USA's broadcast entertainment businesses, including the USA Network and Sci-Fi Channel. This led to the creation of
1025-431: The firm, having overriding material influence over the held company's operations, even if no formal full takeover has been enacted. Once a full takeover or purchase is enacted, the held company is seen to have ceased to operate as an independent entity but to have become a tending subsidiary of the purchasing company, which, in turn, becomes the parent company of the subsidiary. (A holding below 50% could be sufficient to give
1066-458: The first body) is a subsidiary of another body corporate if, and only if: Toronto-based lawyer Michael Finley has stated, "The emerging trend that has seen international plaintiffs permitted to proceed with claims against Canadian parent companies for the allegedly wrongful activity of their foreign subsidiaries means that the corporate veil is no longer a silver bullet to the heart of a plaintiff's case." The parent subsidiary company relationship
1107-605: The five largest bank holding companies in the finance sector, as of December 2013 , based on total assets. The Public Utility Holding Company Act of 1935 caused many energy companies to divest their subsidiary businesses. Between 1938 and 1958 the number of holding companies declined from 216 to 18. An energy law passed in 2005 removed the 1935 requirements, and has led to mergers and holding company formation among power marketing and power brokering companies. In US broadcasting , many major media conglomerates have purchased smaller broadcasters outright, but have not changed
1148-455: The following requirements are met: A parent company is a company that owns enough voting power in another firm (or subsidiary ) to control management and operations by influencing or electing its board of directors . The definition of a parent company differs from jurisdiction to jurisdiction, with the definition normally being defined by way of laws dealing with companies in that jurisdiction. When an existing company establishes
1189-462: The foundation for a new broadcast network. The company acquired several assets in the late 1990s. In December 1996, Silver King acquired an 80% stake in HSN for $ 1.3 billion in stock, and changed its own name to HSN, Inc. At the same time, the company acquired Savoy Pictures , a failed film studio that owned four Fox affiliate stations through SF Broadcasting , for $ 210 million in stock. HSN purchased
1230-491: The offer is below the true value of the company. Regulatory and governmental approval would be required for sale of Transat AT. A May report by CBC News stated that "regulatory approvals are no sure thing". If the Air Canada purchase is concluded, Air Transat would continue to operate as a separate brand. In late August 2019, 94.77% of shareholders voted in favour of accepting Air Canada's final offer of $ 18-per-share,
1271-462: The online mortgage comparison site LendingTree , and in September, the company added discount travel website Hotwire.com to its growing list of acquisitions. In October, IAC agreed to buy French travel site Anyway.com from Transat A.T. for $ 62.7 million. In 2004 and 2005, IAC continued its growth through acquisition, adding assets including Tripadvisor , ServiceMagic , and Ask Jeeves . It also launched Gifts.com during this period. In August 2005,
IAC Inc. - Misplaced Pages Continue
1312-649: The same day, Diller stepped down as CEO, though he remained as chairman and Match.com CEO Greg Blatt was appointed to succeed him. That same year, IAC acquired dating site Singlesnet and fitness site DailyBurn . In January 2013, IAC acquired online tutoring firm Tutor.com . On August 3, 2013, IAC sold Newsweek to the International Business Times on undisclosed terms. On December 22, 2013, IAC fired their director of corporate communications, Justine Sacco , after an AIDS joke she posted to Twitter went viral , being re-tweeted and scorned around
1353-413: The symbol "VMEO". In October 2021, IAC announced the acquisition of Meredith Corporation 's National Media Group for $ 2.7 billion. The deal closed December 1, 2021, and the acquired Meredith (and the former Time Inc. ) assets merged with IAC subsidiary Dotdash, forming a new entity called Dotdash Meredith . In August 2022, IAC officially changed its legal entity (IAC/InterActiveCorp) to reflect what it
1394-499: The usual taxes on dividends, as they are legitimate and ordinary dividends to these shareholders. Sometimes, a company intended to be a pure holding company identifies itself as such by adding "Holding" or "Holdings" to its name. The parent company–subsidiary company relationship is defined by Part 1.2, Division 6, Section 46 of the Corporations Act 2001 (Cth) , which states: A body corporate (in this section called
1435-426: The world's largest peer-to-peer car sharing marketplace, Turo . Later that year, IAC acquired Care.com . In December 2019, IAC and Match Group entered into an agreement providing for the full separation of Match Group from the remaining businesses of IAC. In January 2020, IAC withdrew its financial backing for CollegeHumor and its sister websites and sold the websites to Chief Creative Officer Sam Reich ; IAC remains
1476-737: The world. The incident became a byword for the need for people to be cautious about what they post on social media. In 2014, IAC acquired ASKfm for an undisclosed sum. In November 2015, IAC and Match Group announced the closing of Match Group's previously announced initial public offering. In May 2017, HomeAdvisor combined with Angie's List , forming the new publicly traded company ANGI Homeservices Inc. The company made its stock market debut in October 2017. In October 2018, ANGI made its first acquisition of on-demand platform Handy . In January 2019, IAC sold Citysearch parent CityGrid to eLocal. In July 2019, IAC made its largest investment ever in
1517-575: Was eliminated and the interest in Match Group formerly held by IAC is now held directly by IAC's shareholders. As of the separation, "new" IAC trades under the symbol "IAC" and "new" Match Group under the symbol "MTCH." In August 2020, IAC announced it had invested a 12% stake in MGM Resorts International . In May 2021, IAC completed the spin-off of Vimeo, the 11th company to be spun-off from IAC. Vimeo trades on Nasdaq under
1558-432: Was founded in the early 1980s by Jean-Marc Eustache, Lina De Cesare and Philippe Sureau as ' Trafic Voyages . The company was a wholesaler specializing in travel from Québec to France. In 1987, the company, which had been renamed Transat, was listed on the stock exchange through an initial public offering that generated $ 8.25 million. The company used the proceeds to establish its own airline, Air Transat, and to embark into
1599-653: Was in exclusive talks for 30 days with Air Canada which intended to purchase the company. An offer was subsequently made by Air Canada at C$ 13 per share and another company, Group Mach, proposed a purchase at C$ 14. On 27 June 2019, the Board of Transat AT accepted Air Canada's all-cash bid of C$ 520 million and did not comment on the C$ 527.6 proposal from Group Mach because the talks with Air Canada were still exclusive. The deal required approval by two-thirds of shareholders; some major investors, and some financial analysts, stated that
1640-477: Was later renamed as HSN Communications, Inc. , and then Silver King Communications, Inc. In 1992, Silver King was spun off to HSN shareholders as a separately traded public company. In August 1995, Barry Diller acquired control of Silver King, in a deal backed by the company's largest shareholder, Liberty Media . Diller, who had led the creation of the Fox network , reportedly hoped to use Silver King's stations as
1681-474: Was later sold to Cumulus Media ). In determining caps to prevent excessive concentration of media ownership , all of these are attributed to the parent company, as are leased stations , as a matter of broadcast regulation . In the United States, a personal holding company is defined in section 542 of the Internal Revenue Code . A corporation is a personal holding company if both of