IAC Completes Spin-Offs of HSN, Interval Leisure Group, Ticketmaster and Tree.com

August 21, 2008 10:55 AM EDT

IAC (Nasdaq: IACI) announced that it has completed the spin-offs of HSN, Interval Leisure Group, Ticketmaster and Tree.com to IAC shareholders. For every one share of IAC common stock held on August 11, 2008, the record date for the spin-off, or bought in the due bill period, holders received one-fifth of a share of common stock of each of HSNi, ILG and Ticketmaster, and one-thirtieth of a share of common stock of Tree.com. Immediately following the spin-off on August 20, 2008, IAC also effected a one-for-two reverse stock split.

Today, HSNi, ILG, Ticketmaster and Tree.com will begin trading regular way as independent publicly traded companies on the Nasdaq National Market under the following symbols: "HSNI," "IILG," "TKTM" and "TREE," respectively. Until September 19, 2008, shares of IAC common stock will trade under the symbol "IACID" in accordance with Nasdaq rules, after which trading under its current symbol, "IACI," will resume.

"Armed with outstanding management teams, appropriate capital structures and their own currencies, HSNi, Ticketmaster, Interval and Tree.com are now ready for independent futures ... while the Internet businesses that make up new IAC can operate with a collective purpose and common goals," said Barry Diller, Chairman and CEO of IAC. "The work is done and our focus now is moving forward."

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