Monday, November 5, 2007

IAC To Spin Off Ticketmaster, Other Firms

IAC said today that it is planning to spin off five of the firm's businesses as separate, publicly traded businesses. The firm said that it will look to split out IAC, HSN, Ticketmaster, Interval International, and LendingTree into different businesses, responding to the company's issues with investors understanding the company's wide ranging businesses. IAC, which is headed by Barry Diller, owns everything from Internet businesses Citysearch, Evite, and Excite, to the HSN TV network, to ticket provider Ticketmaster. A number of IAC's operating businesses are headquartered in Southern California, including Citysearch, Evite, and Ticketmaster.