According to the Associated Press, Barry Diller’s redundantly-named IAC/InteractiveCorp is splitting into five publicly traded companies. Presumably, there will be 10 names between them.
According to AP:
The split has been in the works for a long time. In December, The Observer‘s Doree Shafrir wrote, “The spinoffs came after pressure from an increasingly impatient John Malone, the reclusive billionaire head of Liberty Media who owned 24 percent of IAC and had been agitating for changes in the months before the announcement.”
In a June profile of Mr. Diller in Portfolio, writer Duff McDonald estimated that “Since taking the helm of IAC in 1995, Diller has pulled down $1.1 billion for his efforts.” No wonder he looks so pleased with himself in every photo in that article’s accompanying slideshow.