IAC: LendingTree losses justify spin-off

Bankrate.com projects banner year in 2008

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Big write-downs at LendingTree helped drive a $369.9 million fourth-quarter loss at parent company IAC/InterActiveCorp, which said the mix of good news and bad news among the dozens of businesses under its umbrella justifies a plan to reorganize IAC into five independent companies.

Meanwhile, Bankrate Inc. said that although fourth-quarter results were hurt by a slow December, the company remained profitable, and acquisitions and a refinancing boom could help make 2008 the company’s best year ever.