reserveamerica

reserveamerica


Barry Diller is fulfilling its promise to initiate the sale of shares of companies "emerging IAC" segment, as operator of the sports community site The Active Network has acquired ReserveAmerica. IAC (NSDQ: IACI) will sell all its shares in camping site reservations ReserveAmerica Holdings, Ltd. asset in exchange for approximately 3.5 million shares of convertible preferred stock Active. Together with previously acquired equity, IAC will own approximately 9 percent of the active network. The deal is expected to close next month.

"There are about 20 units in the segment of the IAC-pop businesses, including sites like Tina Brown's TheDailyBeast, CollegeHumor, RushmoreDrive, and Busted Tees. During the Q3 earnings call the company in November, Diller told investors, "We do not believe that emerging companies are the future of our business.