IAC/InterActiveCorp to break into five entities

IAC/InterActiveCorp to break into five entities

Barry Diller owned Internet company IAC/InterActiveCorp has said that they are now going to split into five different entities.

The company said that they are going to spin off their following divisions:

HSN home shopping network,
Ticketmaster ticketing service,
Interval time-share business and
LendingTree mortgage referral unit

Ask.com search engine, Match.com, Evite, Citysearch and Excite would continue to remain part of the IAC unit.

Diller spoke on this decision to reorganize: “We’ve been a complex enterprise almost from the very beginning 12 years ago, with hundreds of transactions over those years. And while we’ve created a lot of value, I’ve always believed our complexity and many mouthfuls of sentences to explain who we are and what our strategy is have hampered clarity and understanding with all our constituencies, particularly investors.”