IAC sets the stage for more spinoffs

Article Excerpt

IAC/InterActive Corp. began its operations in the late 1980s as the owner of the cable channel Home Shopping Network and several TV stations focused on local markets. Media mogul Barry Diller moved that focus away from TV to the Internet in the 1990s after acquiring control of the company. As a result, IAC sold or spun off its cable and TV operations. The company survived the dot-com bust of the early 2000s, and went on to build an impressive array of popular websites including Tree.com (formerly LendingTree), Expedia, TripAdvisor and Dictionary.com. IAC later spun off or sold those businesses as well. To focus on improving the performance of its smaller, high-growth businesses, the company is now thinking about spinning off its two biggest operations—Match (online dating) and ANGI Homeservices (home renovations). That would help unlock even more of their value for investors. IAC/INTERACTIVE CORP. $233 (Nasdaq symbol IAC; Manufacturing & Industry Sector; Shares outstanding: 84.3 million; Market cap: $19.6 billion; No dividend paid; Takeover Target…