Bary Diller’s IAC/InterActiveCorp is preparing to make another run at Angie’s List, The Post has learned.
“This will be a big run,” a source close to the situation said. “They need to redefine themselves ASAP.”
The media mogul’s conglomerate owns HomeAdvisor.com, which helps customers find home improvement professionals for free.
Subscription-based Angie’s List is one of its main rivals.
Diller first chased after Angie’s List in November, making an unsolicited $512 million, $8.75-a-share bid.
On Tuesday, Angie’s List’s shares fell 2.9 percent, to $8.35 — just above where it traded before IAC’s bid.
Angie’s List, when rejecting Diller, said it wanted to first review the turnaround plan of new CEO Scott Durchslag before deciding whether to consider strategic alternatives.
Diller is likely waiting for Angie’s List to announce earnings later this month before making a new move, the second source said.
The pressure on Angie’s List is growing.
In December, there were reports it was negotiating with shareholder TCS Capital Management about giving it seats on the Angie’s List board. TCS has pushed for a sale.
Angie’s board nominations are due Feb. 10 through March 11. Without a deal with TCS, a proxy fight is possible.
Meanwhile, IAC reported on Tuesday disappointing profits of 75 cents a share. Wall Street expected 93 cents.
“Home Advisor is Barry’s last major asset” after spinning off the Match Group last year, a second source close to the situation said. “He has to grow it.”
An IAC spokeswoman said, “We do not comment on rumors and speculation about transactions.” Angie’s List declined comment.