Tuesday, November 06, 2007

11/6/2007
Liberty Media-Controlled Interactive Corp. to be split up into 5 new pieces; was split in two in 2005

Interactive Corp. once owned USA Channel, Universal TV in Complex Deals in 1990's that attempted to create "synergy" between creative assets and internet portals

taken from http://www.news.com/8301-10784_3-9810781-7.html and other sources

IAC will be all-Internet and will include many of the company's popular online media brands, including Ask.com, Bloglines, BustedTees, Citysearch, CollegeHumor, Evite, Excite, Gifts.com, iWon, Match.com, Vimeo, and Zwinky. In addition, this new pared-down IAC will include the company's current investments in brands like Active.com, Brightcove, and OpenTable.

Ticketmaster.com, under the new plan, will spin off into its own publicly traded company, along with other IAC-owned global ticket brands like Admission.com, Echomusic, and TicketWeb, Biletix, Billetnet, BillettService, LiveDaily, TicketService and TicketWeb as well as the company's investments in Frontline and social music service iLike

Home Shopping Network (HSN) will also spin off along with a number of IAC's retail brands and catalogs, like HSN TV, Frontgate, Garnet Hill, and TravelSmith, HSN.com and Cornerstone Brands

Additionally, several of IAC's vacationing brands will join the title Interval International, CondoDirect, Resort Quest Hawaii and VacationSource.com.

LendingTree brand will also include RealEstate.com, Domania, GetSmart, Home Loan Center and iNest.

This is not the first time that IAC has shrunk itself; in 2005, the company ditched its Expedia travel brand. Expedia includes Hotels.com, Hotwire, TravelNow.com, Activity World, HotelDiscount.com, Condosaver.com, AllLuxuryHotels.com, Anyway.com, eLong, TV Travel Shop, Expedia Corporate Travel, Classic Custom Vacations and TripAdvisor.

"If you total all of the assets that include Expedia and IAC, it's an enterprise of about $19.5 billion," Diller said in the press call. "We thought Expedia was certainly large enough to stand on its own, and we thought that it would be enhanced as a standalone company, and that has certainly proven true."

Under the deal, IAC will retain all the company's cash and the new businesses will be "appropriately capitalized," Diller said.

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