Diller’s IAC Splitting

Barry Diller’s InterActiveCorp will become two separate publicly traded companies, AP reported.

The company will split into Expedia and IAC, according to AP.

Expedia will include the domestic and international operations of Expedia.com (www.expedia.com/daily/home (opens in new tab)), Hotels.com (www.hotels.com (opens in new tab)), Hotwire (www.hotwire.com (opens in new tab)) and the group's other travel sites.

IAC will include operations associated with its ticketing business, including Ticketmaster; electronic-retailing business such as HSN; and financial services and real estate, including LendingTree. It also will include Internet services like Citysearch, Evite and Match.com.

Diller will remain chairman and CEO of IAC, along with serving as chairman of Expedia, AP reported. Dara Khosrowshahi -- whom the company previously said would become president and CEO of IAC Travel -- will serve as CEO of Expedia.

IAC expects the deal to close sometime during the second quarter.