IAC/Interactive… splits into 5 companies
Describing IAC/Interactive has not been the easiest thing. They own … a lot of Internet companies. Many of which were not complimentary to the other (mortgage lending <> online dating). Well, now they are moving to add clarity to their organization by splitting up the company into 5 separate publicly traded companies. This seems like a good idea to me and should allow each business to grow to its potential. And of course, investors always like added clarity. Within the media space, this move seems to parallel Viacom/CBS.
From CNNMoney.com:
IAC/Interactive To Split Into 5 Companies
DOW JONES NEWSWIRES
IAC/Interactive Corp. (IACI) plans to seperate into five publicly traded companies.
The interactive commerce company said the companies will be IAC, which will include the Ask.com and Match.com units; HSN which will include HSN TV and hsn.com; Ticketmaster, which will comprise the unit’s domestic and international operations; Interval International which will include the CondoDirect unit; and LendingTree which will include its RealEstate.com site.
Barry Diller will continue as chairman and chief executive of IAC. The company also saidMindy Grossman ,Sean Moriarty , CD Davies andCraig Nash will continue as chief executive of HSN, Ticketmaster, LendingTree and Interval respectively. The proposed spin-offs are expected to be completed in the second or third quarter of 2008.
Update/Related posts:
IAC to Split into Five Companies, One of Which is Pretty Hot – Mashable
Barry Diller Uncomplicates His Life—Splits IAC Five Ways – TechCrunch
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