Diller Talks Up CitySearch

IAC/Interactive Corp. Chairman Barry Diller generally downplays CitySearch during analyst calls, preferring to focus on brighter stories among IAC’s portfolio of companies, such as TicketMaster, Lending Tree and until recently, Expedia.

But at a Goldman Sachs’ investor conference on Sept. 22, Diller surprisingly devoted more time to CitySearch than IAC’s other companies. He noted that CitySearch is now operating in the black, and has seen a rise in monthly unique users from eight million in 2003 to 23 million today.

Diller’s positive comments reinforce outward confidence in the division by IAC, including its recent move to the new IAC west coast headquarters in West Hollywood, and its recruitment of high level executives to work under CEO Briggs Ferguson.

IAC Moves into Real Estate Brokerages

Barry Diller’s IAC/Interactive is saying that it intends to become a full service Real Estate provider next year, operating brokerages in the Pacific Northwest.

The announcement might be seen as a strange one, since IAC hasn’t settled on whether it will buy or build the brokerages. But it hints at IAC’s wide ranging ambitions in Real Estate, where it already owns Lendingtree.com, which shops for the cheapest mortgage; and RealEstate.com, which provides leads to Realtors in exchange for “soft” consumer kickbacks and a piece of the action.

For IAC, the move into owning brokerages would theoretically complete its Real Estate loop, at least to the extent permissible under today’s regulations, which prevent banks from directly participating in sales.