This might bolster the claim that IAC (NSDQ: IACI) needs to break up to improve management focus… in a filing the company says its Cornerstone Brands unit, a catalog distributor, will take a $300 million goodwill writedown. Cornerstone is part of HSNi, which will be its own freestanding company. The writedown is attributed to economic conditions exacerbated by “execution issues and turnover of management.”
Subscriber content
?
Subscriber content comes from Gigaom Research, bridging the gap between breaking news and long-tail research. Visit any of our reports to learn more and subscribe.
Advertisement
Advertisement
Advertisement
Comments have been disabled for this post