Barry Diller Settles His Investor Problem, Spins Off Companies

Last week we wondered how IAC honcho Barry Diller was going to fix his troubles with John Malone, his #1 shareholder. The answer appears to be: Splitting IAC into five separate publicly-traded companies? Really? The majority (from College Humor to to remain with IAC proper; retail divisions like go off together, as do Ticketmaster and Lending Tree. Amusingly, we hear that IAC staff haven't actually gotten official word of this yet—they all found out from their news alerts on the company. Update: Ooh, we hear the staff are going into a 10 a.m. meeting to find out all about this! Update update: Now we hear the staff meeting was postponed or something—and Barry will hold a live press conference at 11 a.m. on the roof of the IAC headquarters! (How dramatic!) Update update update: Now we hear the press conference is a no-go! Ha! But the conference call will go on as planned.