USA Interactive Takes a New Name
USA Interactive (USAI) is fine-tuning its name, and will soon be called InterActiveCorp, in a bid to reflect what the company described as its "emergence as a pure interactive commerce operating company."
The name change is effective June 23. The company will also get a new stock symbol, IACI, and will continue to trade on the Nasdaq.
Barry Diller, the chairman and CEO of the company explained the move in a statement, "We began as Silver King (a television broadcaster) and over these last eight years, as we built the company up, we changed the corporate name several times to reflect our leading business interests," he said.
"We kept the USA name when we contributed our entertainment assets to a joint venture with Vivendi (V) in 2002 knowing that it had limited descriptive value but at least would keep confusion to a minimum during the transition as well as being reluctant to make a name up out of some anagrammatic or other creative process."Shares of what is for now USA Interactive were down 51 cents to $38.25 in late-day trading.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV