Diller: conglomerate conclusion

Barry Diller’s been busy recently. Along with moving into new cloudlike Frank Gehry-devised offices in Manhattan, the media mogul just unveiled a massive stock buyback for Expedia, the online travel agency he controls. That’s made him wealthier. But for even greater riches he should focus his energies on IAC/InterActive, the $10bn collection of Internet and retail businesses that he also runs. IAC trades at 20% less than the value of its parts, according to Piper Jaffray research. Luckily for...