IAC/Interactive's Do or Die Date Has Come (IACI, IACID, HSNI, IILG, TKTM, TREE)

Today marks the break-up for IAC/Interactive, which trades asunder the IACI and IACID tickers after the August 11, 2008 record date.  IAC/Interactive is going to begin trading on a post-split basis to reflect the break-up today.  The company’s spin-off symbols are as follows:

• "HSNI" for HSN, the Home Shopping Network.  This unit also owns andoperates the Cornerstone Brands portfolio of catalogs and relatedwebsites, including Frontgate, Ballard Designs, Garnet Hill,Smith+Noble, The Territory Ahead, TravelSmith and Improvements, as wellas a limited number of retail stores.
• "IILG" for Interval Leisure Group, its travel and vacation network group of more than 2,400 resorts in 75 countries.
• "TKTM" for Ticketmaster, its live event ticketing and marketing operation spin-off.
• "TREE" for Tree.com, its lending and real estate business spin-off withunits such as LendingTree.com, RealEstate.com, REALTORS, and more.

Where these open and where they trade initially is anyone’s guess.Many of the units are currently counted as victims of economicweakness, the credit crunch, and other woes.  But this has been BarryDiller’s exit plan for months at IAC/Interactive.

Jon C. Ogg
August 21, 2008