Diller sees plan coming together

Would divide IAC into five publicly traded companies

Barry Diller expects his plan to divide Internet conglomerate IAC/InterActiveCorp. into five publicly traded companies to come to fruition around August.

In an earnings call, he also said an asset swap with John Malone's Liberty Media is "very unlikely" after IAC's recent court win over shareholder Liberty.

IAC's first-quarter profit declined 13% to $52.8 million on higher acquisition an other costs. Revenue rose 7% to $1.6 billion.