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IAC to Take on Cable, Satellite Operators with Video Streaming Service

IAC Chairman Barry Diller

IAC/Interactive (IAC) Chairman Barry Diller, who upended the media landscape in 1986 when he created Fox Broadcasting to battle the existing three TV networks, could soon enter the race to take on cable operators by creating an over-the-top streaming video service.

Diller's IAC, a collection of Internet companies that includes dating site and the Daily Beast news site, on May 2 acquired VHX, whose technology provides back-end services for content owners offering video via subscription. IAC is combining VHX with Vimeo, its own service for content creators to show videos to a streaming audience that IAC estimates at 280 million users.

What exactly Diller's troops intend to do with the combined entities so far is unclear. In a letter to shareholders, CEO Joey Levin said IAC likely won't pay large amounts of money for content to take on large over-the-top service providers such as Netflix (NFLX) , (AMZN) and Hulu that are creating original content to...