GO
Loading...

Barry Diller: New Media Has Edge in Economy

Internet company IAC/InteractiveCorp, which owns sites such as Ask.com and Match.com, has weathered the economy more successfully than most traditional media companies, CEO Barry Diller told CNBC Friday. (Watch the video for the full interview)

Within the past year the company has acquired four new Web sites—and all have proven profitable.

"New media has this gigantic wind at its back, and that's just going to continue," he said.

Despite his company's success, Diller predicts the US economy will continue to struggle, and consumer spending will continue to contract. He does, however, think sentiment is rising among families that aren't dealing with unemployment.

IAC reports its earnings Wednesday.

Symbol
Price
 
Change
%Change
IACI
---

Featured

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    › Learn More

Don't Miss

U.S. Video

  • Investors put trust and money into the hands of financial advisor Aaron Vallett. But he has different goals in mind - building his fortune on the backs of burned clients.

  • Aaron Vallett wants to be a superstar financial advisor. His ego-driven talents extend to the local NHL team in Nashville, where his plans include buying the naming rights to the arena. But, who pays for his bold moves?

  • Meet Geoffrey Goldman and Aaron Vallett, two hard-charging entrepreneurs who violated their clients' trust when they used millions of dollars from investment funds for personal gains.