IAC finalizes 5-way break up
The multifaceted Internet company run by media mogul Barry Diller, officially split into five distinct parts: Home Shopping Network, Interval Leisure Group, Tree.com (formerly Lending Tree), Ticketmaster and InterActiveCorp.
The first four newly independent companies began trading today under new tickers, while IAC will resume trading with its original ticker “IACI” in about three weeks.
It was time for a change at IAC, the conglomerate’s stock lost 27 percent of its value last year and today it appears that investors liked the separation. All of the new companies traded up today, HSN led the way with a 20 percent increase.
Tags: barry diller, home shopping network, IAC, lending tree, ticketmasterRelated Stories
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