Diller To Show IAC Is No Travel Company By Creating IAC's Travel Company
from the we'll-show-them! dept
Barry Diller has done a good job buying up various online “middleman” companies in a variety of spaces from travel to social networking to dating. However, he says too many people view InterActiveCorp as a travel company and that’s making it more difficult to acquire non-travel companies. So, in order to prove that he’s not running a travel company… he’s going to show them what it means to really run a travel company. That is, he’s going to spin off all of IAC’s travel properties, including Expedia, Hotwire, TravelNow and Hotels.com, into one company (which he’ll still run), and keep all the other properties as IAC. While it may be a good idea to realize the value of those other properties, from the beginning Diller kept talking about the synergies of having all of these properties under the same umbrella. Apparently, those synergies only go so far when the stock price isn’t as high as he had hoped.
