IAC: October 2009 Archives

I realize that Electus - the earth-shattering, ground-breaking, cutting-edge new business from Ben Silverman and Barry Diller's IAC/ InterActiveCorp hasn't launched, but I have recently climbed aboard Khan Manka, Jr.'s Time Machine and gone into the not-too-distant future to retrieve the press release announcing (sadly) the company's closure.  Sorry, Ben.

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From the Associated Press (July 2011):

Electus, the $100 million start-up from media wunderkind Ben Silverman has decided to close its doors effective immediately after only 18 months in business.  875 staffers (mostly low-level hot chicks in their 20s who ran errands and stuff) were expected to lose their jobs.  The highly-touted venture only managed to produce one original internet series - a show about bed-hopping young flight attendants based at O'Hare International Airport called "The Hub".

Electus, announced by Mr. Silverman with much fanfare in July 2009 (after a completely disastrous run as Co-Chairman of NBC Entertainment), was supposed to change the entertainment landscape with the unoriginal idea of marrying advertising, content and distribution in a new media world.

Mr. Silverman was unavailable for comment but released a statement through his representatives:  "I am proud of my accomplishments at Electus.  Even though $100 million doesn't go as far as it used to, I still changed the world!  No one has even come close to doing what I did because nobody had the balls.  What a ride!  Maybe people just aren't ready for forward-thinking."

Mr. Diller was available for comment and simply said about Silverman:  "Fuck that guy."

But don't worry about Ben.  He has landed on his feet and will continue his Quixotic quest to monetize online content from his penthouse suite at The Palms Hotel in Vegas.  Goldman Sachs
has committed $500 million to fund his new, as yet, unnamed venture.
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Oh, yeah, one other thing I learned from the future:  The Jay Leno Show was canceled in 2010 and called one of the greatest failures in the history of television.  Sorry, Ben.

Jill Kennedy - OnMedea

Seriously, Fortune?  Are you fucking kidding me?  What, will you sell 15 more magazines with him on the list?  Couldn't come up with that 40th name? 

What about Jeff Weiner - he's under 40 and was named CEO of LinkedIn.  That's a pretty big job and the site actually makes money and is relevant. 

Ben Silverman is irrelevant.  Everyone needs to please stop with the 'Ben Silverman is great' shit. 

If (and this is about the biggest fucking 'if' I've ever written) Barry Diller and Ben Silverman put together a company that changes the media landscape and makes the world a better place, put him on your list next year.  Oh, yeah, he won't be UNDER 40 next year.  Sorry, Ben.

Well, OnMedea is putting together our own list:  ONMEDEA'S TOP 40 FAILURES UNDER 40 and Ben Silverman is in the running for the top of that list. 

Check back here next week for all the exciting details.

Jill Kennedy - OnMedea

OK, Ben. 

It's been nearly three months since you announced you were leaving NBC to start a new company that will "capitalize on the ever-evolving world of multimedia production and distribution."   We're still waiting.

Who knows?  Maybe you actually did stay at NBC to help launch the new season (or whatever) like you claimed you were going to do. 

If you stayed, most likely you left the morning after The Jay Leno Show premiered so that you could tell people that it was a hit while you were there. 

[Note: Latest ratings for The Jay Leno Show (10/5/09): 2.9/5 - but, according to John Ferriter, it only needs a 1.5 to make NBC Universal $300 million!]

I know it must be difficult to be a cutting-edge wunderkind and I'm not trying to rush you - but it's time to announce your new venture. 

I'm sure Barry Diller can't wait to hear about it either.  He's got $100 million riding on your genius. 

Don't worry, Ben - Vegas will still be there after you launch your company.  And... don't forget... hot chicks dig launch parties. 

Jill Kennedy - OnMedea

OK, Ben. 

It's been nearly three months since you announced you were leaving NBC to start a new company that will "capitalize on the ever-evolving world of multimedia production and distribution."   We're still waiting.

Who knows?  Maybe you actually did stay at NBC to help launch the new season (or whatever) like you claimed you were going to do. 

If you stayed, most likely you left the morning after The Jay Leno Show premiered so that you could tell people that it was a hit while you were there. 

[Note: Latest ratings for The Jay Leno Show (10/20/09): 3.6/6 - but, according to John Ferriter, it only needs a 1.5 to make NBC Universal $300 million!]

I know it must be difficult to be a cutting-edge wunderkind and I'm not trying to rush you - but it's time to announce your new venture. 

I'm sure Barry Diller can't wait to hear about it either.  He's got $100 million riding on your genius. 

Don't worry, Ben - Vegas will still be there after you launch your company.  And... don't forget... hot chicks dig launch parties. 

Jill Kennedy - OnMedea