IAC to Split up into 5 Companies

5 Nov
2007

Interesting – just read about this in the Wall Street Journal – IAC (owners of Citysearch are looking to split the company into 5 separate parts. For those that don’t have a subscription, the five parts will be:

  • IAC – Ask.com, Citysearch, IAC Advertising Solutions, Evite, iWon, My Way, Match.com; CollegeHumor, GarageGames, Gifts.com
  • HSN – HSN TV, hsn.com, Cornerstone Brands
  • Ticketmaster
  • Interval International
  • LendingTree

“We’ve been a complex enterprise almost from the very beginning 12 years ago, with hundreds of transactions over those years. And while we’ve created a lot of value, I’ve always believed our complexity and many mouthfuls of sentences to explain who we are and what our strategy is have hampered clarity and understanding with all our constituencies, particularly investors,” Mr. Diller said in a statement.

The spin off would happen in Q3 3008.

This is an interesting move to me – by a lot of accounts, Ask.com, even with its $100 million campaign, wasn’t making much of a difference in the only category that matters – generating money. I wonder how this will affect Citysearch.

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