Diller’s IAC Tagged with 4Q Loss2/16/2005 7:34 AM Eastern
InterActiveCorp posted a net loss of $46 million in the fourth quarter due to charges to write down the value of two of its businesses, AP reported.
The Barry Diller-run online travel and retailing company posted net income of $153 million in the fourth quarter of 2003.
IAC’s results were saddled by a $185 million write-down of the value of its call-center-services business, which lost two key clients, and a $33 million write-down in the value of a travel channel in the United Kingdom, according to AP.
IAC announced plans in December to split into two companies -- an online travel agency and an electronic retailer. That split is expected to occur during the second quarter, AP reported.