updated 12/21/2004 7:51:06 AM ET 2004-12-21T12:51:06

IAC/InterActiveCorp, the Internet travel, retailing and ticketing company controlled by entertainment mogul Barry Diller, announced Tuesday that it will separate into two publicly traded companies.

Expedia will include the domestic and international operations of Expedia.com, Hotels.com, Hotwire and the group's other travel sites.

IAC will include the operations associated with IAC's ticketing business, including Ticketmaster, electronic retailing business such as the Home Shopping Network, and financial services and real estate, including LendingTree. It also will include services like Citysearch, Evite and Match.com.

The company's board of directors approved the plan, IAC/InterActiveCorp said.

Diller will remain as chairman and CEO of IAC. He will also serve as chairman of Expedia and its senior executive. Dara Khosrowshahi, whom the company previously said would become president and CEO of IAC Travel, will serve as CEO of Expedia.

The company said it expects that IAC stockholder approval will be required. The proposed deal is expected to be completed in the second quarter of 2005.

Copyright 2004 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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