Ask.com Parent IAC to Split Into 5 Separate Publicly Traded Companies

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Ask.com Parent IAC to Split Into 5 Separate Publicly Traded Companies

11-06-2007, 10:36 AM,

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mandy Offline

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Ask.com Parent IAC to Split Into 5 Separate Publicly Traded Companies

Quote:IAC/InterActiveCorp, the media-and-Internet conglomerate cobbled together by Barry Diller, said Monday that it plans to carve itself up into five companies. The spinoffs seemed to signal a retreat for Mr. Diller, a media magnate who was the Unites Statess most highly paid chief executive in 2005...

IAC, whose board has approved the breakup plan, said it plans to divide itself into IAC, a Web- and advertising-focused business that includes Ask.com and Match.com; HSN, a retailing company that includes the HSN home-shopping channel; Ticketmaster, the concert-ticket vendor; Interval International, a resort-booking company; and LendingTree, an online lender.

IACs current shareholders will hold all the stock in the new, publicly traded entities. The transactions are expected to be completed in the second or third quarters of next year...

full article: http://dealbook.blogs.nytimes.com/2007/1...1352005200&en=c874658161702737&ei=5088&partner=rssnyt&emc=rss

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