Tech Tycoon Diller To Sell PriceRunner Site

The American internet tycoon Barry Diller is in advanced talks to sell PriceRunner, one of the first price comparison websites to allow British shoppers to select online deals from leading high street retailers.

Sky News understands that IAC/InterActiveCorp, the company behind digital businesses such as dating site Match.com, is close to announcing a disposal of PriceRunner for roughly $100m (£69m).

IAC is being advised on the sale by Moelis, a US-based investment bank, although the identity of PriceRunner's buyer was unclear on Tuesday.

A deal could be announced as soon as this month, a source said.

It was also unclear whether the transaction would comprise all of PriceRunner's operations, which includes a UK business launched during the first dotcom boom in 1999.

PriceRunner was part of a portfolio of internet assets sold by ValueClick to Mr Diller's company just over two years ago.

It describes itself as "the UK's number one shopping comparison site" and claims to be impartial because it lists retailers free of charge.

PriceRunner works with Which? as well as retailers such as Argos, Asda and John Lewis, and says it helps one million British shoppers save money each month.

Accounts filed at Companies House for 2014 for PriceRunner Limited revealed that the company's directors were "satisfied with the performance achieved by the business…but anticipate that the business will continue contracting in 2015 due to changes in the internet industry".

The directors blamed changes in Google algorithms for declines in PriceRunner's market share and revenues.