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Article: Diller's IAC to Split Into Five Units
- Article from:
- AP Online
- Article date:
- November 5, 2007
- Author:
CopyrightCopyright 2007 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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IAC/InterActiveCorp, the Internet conglomerate run by Barry Diller, said Monday it will break itself into five publicly traded businesses _ an indication that the media mogul's plan to build a multimedia empire has failed.
The announcement drove IAC's shares up more than 6 percent.
The New York-based company plans to spin off its HSN home shopping network, Ticketmaster ticketing service, Interval time-share business and LendingTree mortgage referral units.
Roughly 30 Web-only brands _ including the Ask.com search engine, Match.com, Evite, Citysearch and Excite _ would remain as part of IAC.
Diller also announced that IAC had reached a renewed deal with Google Inc. ...