Ticketmaster parent company IAC/InterActiveCorp plans to split into five publicly traded companies.

The New York-based conglomerate said it would spin off its ticketing service Ticketmaster, cable shopping network HSN, vacation and time-share business Interval International and online mortgage company Lending Tree. IAC will retain approximately 30 of its Web brands, including Ask.com, Match.com, Evite, Citysearch and Excite. The company hopes to better capitalize on those services.

The spin off of Ticketmaster will include its domestic and international operations, including Echomusic, TicketService, and TicketWeb, among others.

"Ticketmaster is entering the most dynamic era in its history, and its ability to participate fully (with its own currency) in shaping the live entertainment industry is critical," IAC chairman and CEO Barry Diller said in a statement.

"The live business is changing rapidly and so is Ticketmaster,” Sean Moriarty, president/CEO of Ticketmaster, tells Billboard.biz. “IAC has been a fantastic owner and supporter of Ticketmaster for nearly a decade, and has put us in a great position to succeed as a public company."

Meanwhile, Diller reportedly said that IAC has renewed a deal with Google to continue as the search engine's advertising-listings provider for another five years. The deal expects to generate more than $3.5 billion - one of the key reasons the company felt its Internet-only part of the business was ready to operate on its own, according to the Associated Press.

Diller will continue as chairman and CEO of IAC, while the heads of each unit being spun off will keep their titles. IAC shareholders will own 100% of the equity in all five companies. The transactions are expected to close in the second or third quarter of 2008.