CNN Money is reporting that earlier today, IAC/InterActiveCorp. (IACI) has extended a deal with Google Inc. GOOG) to provide search advertising on its Internet properties, primarily the Ask.com search engine.
As taken from the report:
In additional news, Barry Dillar has announced plans to split his company IAC into five separate entities with the core group being IAC (formerly Interactive Corp) which will contain ASK.com. The IAC group will contain Bloglines, Citysearch, IAC Advertising Solutions, Evite, Excite, iWon, Match.com and other major websites.
IAC Chief Executive Barry Diller said in a briefing Monday that the Google deal is worth in excess of $3.5 billion to IAC. The prior Google deal was slated to expire at the of the year.
The announcement came on a busy day for IAC, which also said it plans to split the company into five parts. Diller said the split has been under consideration since the summer, but disclosed few details of how the spun-off companies would be structured. The split leaves several of IAC's biggest assets, including the HSN home-shopping channel and Ticketmaster, as separate public companies.
Labels: ASK, Barry Diller, IAC/InterActiveCorp