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DISCONTINUED OPERATIONS | 6 Months Ended
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Jun. 30, 2021
Discontinued Operations and Disposal Groups [Abstract] |
DISCONTINUED OPERATIONS | NOTE 3—DISCONTINUED OPERATIONS Pursuant to the terms of the transaction agreement dated as of December 19, 2019 (as amended, the “Transaction Agreement”), on June 30, 2020, the companies formerly known as Match Group, Inc. (referred to as “Former Match Group”) and IAC/InterActiveCorp (referred to as “Former IAC”) completed the separation of the Company from IAC through a series of transactions that resulted in two, separate public companies—(1) Match Group, which consists of the businesses of Former Match Group and certain financing subsidiaries previously owned by Former IAC, and (2) IAC, formerly known as IAC Holdings, Inc., consisting of Former IAC’s businesses other than Match Group (the “Separation”). Accordingly, the businesses of Former IAC other than Match Group are presented as discontinued operations. The key components of loss from discontinued operations for the three and six months ended June 30, 2021 and 2020 consist of the following:
| Three Months Ended June 30, |  | Six Months Ended June 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
| (In thousands)
Revenue | $ | — |  |  | $ | 726,361 |  |  | $ | — |  |  | $ | 1,410,485 |
Operating costs and expenses | — |  |  | (840,902) |  |  | — |  |  | (1,840,178) |
Operating loss | — |  |  | (114,541) |  |  | — |  |  | (429,693) |
Interest expense | — |  |  | (1,555) |  |  | — |  |  | (3,772) |
Other income (expense) | — |  |  | 51,244 |  |  | — |  |  | (2,503) |
Income tax benefit | 509 |  |  | 30,241 |  |  | 509 |  |  | 69,390 |
Earnings (loss) from discontinued operations | $ | 509 |  |  | $ | (34,611) |  |  | $ | 509 |  |  | $ | (366,578) |

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- Definition The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -URI http://asc.fasb.org/subtopic&trid=2122178 + Details
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