. InterActiveCorp/IAC's Strategy Evolves
New York-based InterActiveCorp/IAC's strategy is shifting, according to The Deal's Richard Morgan. It looks likely that it will jettison Ask.com, which was originally intended to "keep the crazy quilt of IAC together, soon with CEO Barry Diller saying that IAC would "unlikely be the consolidator... of transactions in search."
Instead, there's more of a focus on media and entertainment, an acquisition of Urbanspoon, the online restaurant aggregator, in April of this year, the expanding, year-old partnership with Tina Brown on The Daily Beast, and an upcoming joint venture with NBC Entertainment called Electus.
Not all are convinced that this is the case though. "We think that the synergies are overstated," Morningstar Inc. analyst Larry Witt opines in a research update. "We also think that owning so many different Web properties could lead to a lack of focus and poor execution."
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