IAC to Split Into Five Companies; Ticketmaster Spun OffAuthored by Mark Hefflinger on November 5, 2007 - 8:12am.
New York - IAC (NASD: IACI) , the media conglomerate run by Barry Diller that owns Ticketmaster, Citysearch, Ask.com and many other properties, announced on Monday a plan to split IAC into five publicly-traded companies. "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," said IAC chairman and CEO Barry Diller.
Poll: Is the Proposed Split of IAC a Smart Move by Barry Diller? Related Links: http://biz.yahoo.com/rb/071105/iac.html (Reuters) tags: Deals | Advertising | Google | IAC | Ticketmaster | Barry Diller | iLike | CitySearch | Match.com |
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