SUBSEQUENT EVENTS

On November 6, 2018, MTCH declared a special dividend of $2.00 per share on MTCH common stock and Class B common stock, payable on December 19, 2018 to shareholders of record on December 5, 2018. Based on MTCH's current shares outstanding, the total amount of this dividend will be an aggregate of approximately $560 million, of which approximately $450 million will be paid to IAC. The special dividend will be funded with cash on hand and incremental debt, as necessary.

On November 5, 2018,


•	the IAC Credit Facility was amended and restated, reducing the facility size from $300 million to $250 million, and now expires on November 5, 2023.

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ANGI entered into a five-year $250 million revolving credit facility (the "ANGI Credit Facility"). The annual commitment fee on undrawn funds is currently 25 basis points and is based on the net leverage ratio most recently reported. Borrowings under the ANGI Credit Facility bear interest, at ANGI's option, at either a base rate or LIBOR, in each case plus an applicable margin, which is determined by reference to a pricing grid based on ANGI's consolidated net leverage ratio. The terms of the ANGI Homeservices Credit Facility require ANGI to maintain a net leverage ratio of not more than 4.5 to 1.0 and a minimum interest coverage ratio of not less than 2.0 to 1.0.

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ANGI Term Loan was amended and restated, and is now due on November 5, 2023. Interest payments continue to be due at least quarterly through the term of the loan and quarterly principal payments of 1.25% of the original principal amount in the first three years from the amendment date, 2.5% in the fourth year and 3.75% in the fifth year are required. The financial covenants are the same as those for the ANGI Credit Facility.

On October 1, 2018, the Company entered into an agreement to sell Dictionary LLC, which is part of the Publishing segment; the transaction is expected to close in the fourth quarter of 2018. In addition, on October 29, 2018, the Company sold the television business of Electus, which was part of the Video segment. The combined proceeds from the two transactions are expected to be approximately $130 million.

In October 2018, IAC acquired TelTech, a developer of mobile applications, including RoboKiller and TapeACall, within its Applications segment.

In October 2018, ANGI completed the acquisition of Handy Technologies, Inc. ("Handy"), an on-demand platform and gig marketplace connecting people looking for household services with independent, pre-screened professionals. ANGI issued approximately 8.6 million shares of its Class A common stock in connection with the Handy transaction.

On October 10, 2018, IAC was issued approximately 5.1 million shares of Class B common stock of ANGI pursuant to post-closing adjustment provision of the Angie's List merger agreement.

The Company will change its segment reporting in the fourth quarter of 2018. Dotdash and Vimeo will be moved from the Publishing and Video segments and each will be reported as its own segment. The other businesses within the Publishing and Video segments will be moved to the Emerging & Other segment (formerly the Other segment).