Diller Splits Up IAC/Interactive

I find this a little odd because a couple years ago, Expedia was a publicly traded entity itself, now it's being spun off AGAIN?   This whole spin-on and spin-off is scammy if you were to ask me!

Diller, 62, said he plans to split his IAC/InterActiveCorp into two
separate companies -- an online travel agency and an electronic
retailer. The New York-based interactive commerce company now has some
40 separate businesses under its umbrella, from social networking names
like Match.com to retail services like Ticketmaster.

The new
company -- to be named after Expedia, the largest U.S. travel Web site
-- will include the domestic and international operations of
Expedia.com, Hotels.com, Hotwire and the group's other travel sites,
and is expected to go public by the second quarter of 2005.

Wall
Street appeared pleased with the news. IAC/Interactive shares surged
$1.53, or 5.9 percent, to close at $27.41 in trading on Nasdaq Stock
Market -- near the middle of its 52-week trading range of $19.16 to
$34.93.