New York - IAC (NASD: IACI), the conglomerate of Internet businesses, has sold its Entertainment Publications Inc. (EPI) subsidiary, a provider of discounts and promotions, to MH Equity Investors for $135 million.

"The sale of EPI to MH Equity Investors better positions EPI to compete and allows IAC to strengthen its core focus on our interactive brands," said Barry Diller, chairman and CEO of IAC.

EPI offers promotions and discounts, such as its Entertainment book membership, and its savings site, Entertainment.com.

Under the new ownership structure, EPI's strategic direction and management team will remain in place with MaryAnn Rivers continuing in her role as CEO.

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http://www.iac.com/index/businesses/businesses_detail_entertainment.htm