IAC Splits Into Five Units

New York, NY (AHN) - Hoping to bring more focus to the company, IAC/InteractiveCorp Thursday finalized splitting the conglomerate into five separately-traded companies. The move, coming in the midst of economic tumult and investor concern, involves some of the best-known businesses overseen by Barry Diller.

As part of the breakup, the Home Shopping Network, Ticketmaster Tree.com, the lender formerly known as LendingTree, and time-share Interval Leisure Group Inc. will get their own ticker symbols. HSN will trade under "HSNI," Ticketmaster will use "TKTM" and Tree.com will be traded under "TREE."

The conglomerate's other Internet companies, including Ask.com, will remain in the IAC fold and will use the "IACID" Nasdaq ticker symbol before reverting to "IACI" after 20 days.

As part of the break, each unit will have its own CEO and board of directors.

The split, first announced in November 2007, comes as IAC was finding it difficult to gage its overall success. The decision also helps IAC become more attractive to investors, who might find the separate businesses more attractive.

The crumbling economy may have played a role in the split-up. The former Lending Tree had been affected by the mortgage mess while Ticketmaster lost one of its prime contracts.