Barry Diller has a notion that his new production company will be a success. IAC announced that it will launch Notional, which it described as "a video-content company born out of its entertainment property, CollegeHumor."

CollegeHumor editor in chief Ricky Van Veen will run Notional, which "was conceived as an extension of CollegeHumor.com's industry-leading content sensibility and production capabilities," IAC said. "By building on top of that base, Notional hopes to bring the DNA of an Internet company to an international production company."

Van Veen said:

We're trying to take what we've mastered online—the ability to create attention-getting pieces of content at a low price—to other people and platforms.

IAC is a company with its roots in the entertainment business. From Barry Diller's days at Paramount and IAC's early involvement in Reveille to CollegeHumor's 10 weekly original videos and the growing editorial voice of The Daily Beast, IAC has, in one way or another, had a hand in content creation since its founding.

Dave Noll, formerly of City Lights Media, who was named president of television at Notional, added:

My team and I are thrilled to join the IAC and CollegeHumor families. Through wildly creative ideas, we're looking to bridge the current gap between the Web and TV content spaces in a fresh and meaningful way.