Diller: We're not really deal junkies
InterActiveCorp CEO says that he's not really a big believer in synergies, but says the Ask.com search business and Citysearch local unit aren't big enough to stand on their own yet.
PASADENA, Calif.--InterActiveCorp CEO Barry Diller says he ended up with a huge Internet conglomerate, but said that was never really his goal.
"I don't really believe in synergies," Diller said Friday, speaking at Fortune'shere.
In the past few years, IAC has already spun off Home Shopping Network, Expedia, LendingTree, and Ticketmaster. He'd eventually like to see the Ask.com search and Citysearch local businesses stand alone as well.
"They are in formation, he said. "They are not sufficiently landed. I'm hopeful that they will be."
Fortune managing editor Andy Serwer challenged Diller on whether he is really improving the entities under his domain. "Are you creating value or are you just a shark that needs to keep swimming?"
Diller quipped that it's probably somewhere in between, before explaining his rationale. "It's not really serial deal making," he said.
The Internet empire, he said, really started with Home Shopping Network, which Diller called the "most primitive form of interactivity."
From there, he said, curiosity forced him onto the Internet.
"We're not really deal junkies," he said. "We just followed the opportunity."