Good afternoon, ladies and gentlemen. And welcome to the Expedia Incorporated Fourth Quarter 2005 Conference Call. At this time, all participants are in a listen-only mode. Followings today’s ...

IAC is trying to bolster its lagging stock price by separating its large travel business from its other units, which include the HSN shopping network, Ticketmaster and the Ask Jeeves search engine.

Expedia Group’s new CEO, Peter Kern, has been on the company’s board since 2005, and has run its day-to-day operations with Chairman Barry Diller since the ouster of its prior CEO last year. (Expedia ...