IAC announced this week that it would launch an "online destination for the Black community featuring topical content, relevant services and a platform for community interaction," reports paidContent.org.

The site is meant to not only attract African-Americans, but blacks from Africa, Latin America, and the Caribbean as well.

The site, planned for a January 2008 launch, is the second initiative announced recently by the IAC Programming division, which is headed by Michael Jackson [not the singer]. The company also is also planning a personal finance site with Dow Jones.

Major competition for the new website includes AOL Black Voices and BlackPlanet.com.