Barry Diller's IAC to Launch Online Black Community Site

The yet-to-be-named site aims to bring the best the Web has to offer to the U.S. Black population, specifically catering to the community's distinct needs and interests, IAC said in a statement.

The new site will be part of IAC Programming, created in 2006 to grow branded online content properties that engage passionate communities.

IAC is the first major internet company to target a specific ethnic niche with is service but given the compeditive nature of the internet business it will not be the last.

Johnny C. Taylor, Jr. has been appointed CEO of the initiative, which is scheduled to launch in January 2008 and will be based in Charlotte, NC.

"There exists enormous opportunity in today's online landscape to provide Blacks with an experience that engages their unique communities through a collective voice," said Mr. Taylor. "There are 40 million African Americans in the U.S., and we estimate an additional 20 million Blacks from Africa, Latin America and the Caribbean. IAC - with its superior technology, operational expertise and more than 60 brands - is poised to provide exceptional content and services for this growing and underserved population."

IAC is an interactive conglomerate operating more than 60 brands including ASK.com, Citysearch, Evite, LendingTree, Match.com and Ticketmaster.