New York - IAC (NASD: IACI), the U.S. conglomerate that owns businesses including Ask.com, Evite, Citysearch and Home Shopping Network, announced on Monday that it has sold its 30% stake in Jupiter Shop Channel Co., a Japanese TV shopping company, to Sumitomo for $493 million.

Sumitomo indirectly owns the other 70% of Jupiter Shop Channel.

Headquartered in Tokyo, Jupiter Shop Channel was founded in 1996.

IAC now operates about 35 Internet businesses in 40 countries.

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