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InterActiveCorp (NASDAQ:IACI) and Liberty Media (NASDAQ:LINTA) have sued each other over IACI's planned breakup into five separate businesses. A Delaware Chancery Court Judge is expected to issue a ruling soon. IACI announced the plan to separate IACI into five publicly traded companies on November 5, 2007:
1) HSN, will include business comprising IACI's retailing segment;
2) Ticketmaster;
3) Interval International, which will include CondoDirect, Resort Quest Hawaii and VacationSource;
4) LendingTree, which will include RealEstate.com Domania, GetSmart, Home Loan Center and iNest; and
5) IAC media & advertising, Ask.com, Bloglines, City Search, Cursor Mania, Evite, Excite, insiderpages, iWon, My Fun cards, Black Web Enterprises Shoebuy.com, Match.com.
IACI April option implied volatility of 47 is above its 26-week average of 38 according to Track Data, suggesting larger risk.
Option Update is provided by Stock Specialist Paul Foster of theflyonthewall.com
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