Mike Arnold
Long only, small-cap, tech, growth at reasonable price

IAC InterActive Is Unlocking Value By Potentially Breaking Up With Match Group

IAC/InterActive (IACI) owns a collection of web properties and is apparently in the process of separating its online matchmaking businesses via a spin off called Match Group. Formal documents for a spin-off have not been registered with the SEC, but IACI did release an 8-K in December 2013 that portends a spin off. Given IACI's Chairman Barry Diller has effected numerous corporate actions in the past, I suspect a Match break up is highly likely.

In my view, a Match break up is a smart move as it will allow investors to better assess the value of each separately traded public company because of the different competitive dynamics and operating models underlying each respective unit.

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