IAC sees 50 pct profit growth after spin-offs

NEW YORK, May 21 (Reuters) - Internet conglomerate IAC/InterActiveCorp (IACI.O) sees profits for its core business rising more than 50 percent after it spins off four major units, Chief Executive Barry Diller said on Wednesday.

Diller told a Goldman Sachs Internet conference he expects growth of "over 50 percent in this '08 or '09 year" for the post-spinoff business, dubbed "New IAC."

"So it's very high growth," he said.

Diller plans to spin off the company's HSN shopping network, LendingTree online mortgage site, Interval time-share exchange, and Ticketmaster box office service in August. The remaining IAC operations will focus on faster-growing Web media and advertising.

(Reporting by Michele Gershberg; editing by John Wallace)

((michele.gershberg@thomsonreuters.com; +1-646-223-6185; Reuters Messaging: michele.gershberg.reuters.com@reuters.net)) Keywords: IAC/OUTLOOK

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