Hollywood’s old pal Barry Diller made a huge announcement today: his IAC/InterActiveCorp media and Internet conglomerate plans to break up into five publicly traded companies. The company plans to split off Ticketmaster, HSN home-shopping network, LendingTree and its Interval vacation business. Mr. Diller will remain Chairman and CEO of IAC, which will include Ask.com, Citysearch and Match.com. “Now that we have real scale in the pure Internet units, it makes nothing but sense to me to reorganize the whole,” said Diller. Think about it, a mogul who found a way to make money in New Media and the Inter. He should whisper the secret to his Hollywood mogul pals.
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