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IAC Spins Off Travel Business

I probably should have mentioned this yesterday, but Barry Diller’s IAC is spinning off its travel businesses as a separate company, of which he will remain chairman.  Diller said he made the move because his ability to do deals was hampered because travel companies didn’t think of IAC as a travel business and non-travel companies thought of IAC as a travel company.  I think he split it to give shareholders greater visibility into the businesses and, just possibly, because he sees the slowing growth on the Expedia side of the house (due to better control of hotel prices by hotel companies and a better product from Orbitz & Travelocity). 

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