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NEW YORK Shares of IAC/InterActiveCorp. dropped 7 percent on Wednesday after the firm reported that it lost $369.9 million in its fourth quarter, partially because of costs associated with chairman and CEO Barry Diller’s plan to divide the company with disparate Internet assets into several different entities.
LendingTree, IAC’s online mortgage unit, also dragged down earnings as the U.S. housing and credit markets continued to work their way through significant slumps.
Plus, Diller warned that a subpar performance at the company’s Ticketmaster unit should be expected going forward.
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