Nov 5, 2007 at 12:45pm ET by Barry Schwartz
Today is a big day for IAC, Ask.com’s parent company. First they announce they are breaking the company into five publicly traded entities, and then they announce they have extended their search ad deal with Google.
Let’s first talk about IAC extending the search ad deal with Google. Google’s sponsored listings will power the search ads on IAC’s Internet properties, including Ask.com. Yes, Ask.com does have their own ASL program, but Google fulfills much of the ads with their AdWords inventory. Earlier this year, there was question if Google would renew the deal with Ask. This deal is worth about $3.5 billion to IAC, so I suspect Ask.com is fairly happy to have extended the deal.
In other IAC news, Barry Diller said he will split the company into five different companies. From the press release, these will be:
IAC recently reported Q3 earnings, which showed Ask.com and that sector with an increase of 40% in revenue. But the overall company showed a decline in earnings due to losses from LendingTree.
More coverage on the IAC company news at Techmeme.
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