Not only has Barry Diller exiled his former IAC No. 2, Doug Lebda, to LendingTree; he's officially washing his hands of Lebda's company. After he finishes splitting IAC into five parts, Diller plans to stay involved only with the new IAC and Ticketmaster, as well as Expedia, the online travel agent he spun off in 2005. A source close to Lebda believes he's just as glad to be through with Diller.

Left in the wake of Barry Diller's acquisitive empire: a flotsam of discarded executives. Doug Lebda, IAC's president and COO since 2003, now joins them. According to an internal memo obtained by Valleywag, Lebda has been appointed CEO of IAC's mortgage and finance businesses, which are soon to be spun off. This can hardly be welcome news to Lebda, who's essentially returning to LendingTree, a business he founded in 1996 and sold to Diller in 2003. Here's the memo.