IAC/InterActive Corp. (NasdaqNM:IACI) plans to split itself in two by spinning off travel site Expedia.com and related businesses, saying the perception that its operations are exclusively travel-related is hindering growth.
IAC, dominated by its portfolio of Web travel sites, will spin off its travel-related assets into a new business named Expedia, but will maintain its retail units such as Web sites Ticketmaster.com and Match.com.
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