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Barry Diller: New Media Has Edge in Economy

Published: Friday, 24 Jul 2009 | 2:47 PM ET

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By: CNBC.com

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.