• The New York Times, Wednesday, November 1, 2006 12:45 PM

Former Hollywood mogul Barry Diller is last year's highest-paid CEO, making off with $295 million in 2005 as the head of the Web conglomerate IAC/InterActive Corp. IAC doesn't get the attention of Google, Yahoo or Microsoft, but it's still the owner of many lucrative Web properties, including Ticketmaster.com, Ask.com, Citysearch, Match.com, and LendingTree.com.

It has many more, too, and earlier this week, IAC announced its next project, a satirical Web site in the vein of Jon Stewart and Stephen Colbert that will be a joint venture between IAC and "The Huffington Post," Arianna Huffington's popular set of blogs about politics and culture. As yet the site has no name, but the idea is to provide a young, smart, media-savvy audience with "real time satire," according to Kenneth Lerner, who is the founder of "The Huffington Post" and a principal involved in the project.

IAC execs say they decided to partner with the "Post" because the year-old blog, which ranks 24th in the category with 635,000 unique users, according to comScore Networks, was able to build its business so quickly.

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