UPDATE 1-IAC reorganizes M&A operation

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NEW YORK, Feb 7 (Reuters) - IAC Corp (IACI.O: Quote, Profile, Research) on Thursday said it has reorganized its merger and acquisitions group, following an announcement in November that it would separate into five publicly traded companies. The Internet conglomerate said it named Shana Fisher, Joey Levin and Kara Nortman to co-lead its merger and acquisitions group.

Fisher, senior vice president, M&A and Strategy, will oversee all aspects of strategy and oversee certain specific areas of M&A activity. She will continue to oversee Instant Action, the company's soon-to-be-launched online gaming site.

Levin, senior vice president, M&A and Finance who oversees financial planning activities at IAC, will co-lead and coordinate all M&A activities, the company said in a statement.

Both Fisher and Levin will continue their previous duties and will report to Vice Chairman Victor Kaufman.

Nortman, vice president, M&A, will co-lead M&A activities, working with the venture capital community. She also will oversee cross-company business development.

IAC in November said it would spin off its HSN shopping channel, its Ticketmaster box office service, its Interval International time-share exchange business and its online mortgage service, LendingTree.

On Thursday, IAC said it expects to complete the spin-off in the second or third quarter of this year.