NEW YORK ( TheDeal) -- Media mogul Barry Diller continues to play by unconventional rules at IAC/InterActiveCorp. (IACI) by unveiling Thursday his plan to pursue an initial public offering of Match Group, the Internet giant's online dating business.

IAC announced on June 25 that its board has approved its pursuit of an IPO of the unit that produces New York-based IAC will retain 80% ownership of Match Group in an IPO it expects to complete in the fourth quarter.

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