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.