IAC set to spin in second quarter
EmptyIAC/InterActiveCorp. expects a spinoff of four of its units to be completed in the second quarter of this year, likely early in the summer, CEO Barry Diller said on Tuesday. IAC announced in November plans to spin off four of its units -- shopping network HSN, online mortgage broker LendingTree, Ticketmaster and subscription business Interval.
Diller told a Citi investor conference that he plans to focus his attention on the operations of the remaining IAC business, online travel company Expedia, and would likely take some role in Ticketmaster after the spinoff.