IAC completes spin-offs of HSN, Ticketmaster, other businesses
IAC has completed the spin-offs of HSN Inc. (HSNi), Interval Leisure Group, Ticketmaster and Tree.com to IAC shareholders.
Starting August 21, the new entities began trading as independent publicly companies on the NASDAQ National Market.
"Armed with outstanding management teams, appropriate capital structures and their own currencies, HSNi, Ticketmaster, Interval and Tree.com are now ready for independent futures ... while the Internet businesses that make up new IAC can operate with a collective purpose and common goals," said Barry Diller, chairman and CEO of IAC, in a statement.
IAC announced its intention to divide the company into five publicly traded companies in November, saying at the time that the complexity of the existing company had hampered understanding with investors.
The IAC unit encompasses media and advertising brands, including Ask.com, Bloglines, Citysearch, IAC Advertising Solutions, Evite, Match.com and Shoebuy.com.
HSNi includes HSN TV, hsn.com and the Cornerstone Brands Inc. portfolio of multichannel brands: Alsto's, Ballard Designs, Frontgate, Garnet Hill, Smith+Noble and others.
Ticketmaster includes domestic and international operations including Admission.com, Biletix, Echomusic, Lippupalvelu, LiveDaily and TicketWeb.
Interval Leisure Group includes CondoDirect, Resort Quest Hawaii and VacationSource.com.
LendingTree includes RealEstate.com, GetSmart, Home Loan Center and iNest.