Barry Diller’s decision to spin off four of its biggest divisions has yet to settle before he’s building again.

The one-time media mogul told Chinese reporters this week his IAC/InterActiveCorp plans to spend $100 million within a year to expand its presence in China. The company, which owns search company Ask.com and dating site Match.com has already spent about $200 million in the region.

He identified Web games as one area that was attractive.

“We certainly have enough capital to do damage,” Diller told reporters, suggesting he’d rather back an entrepreneur than invest in an existing business.

We’re wondering, ‘do damage’ to whom? Here’s hoping it’s not IAC.

(Reuters)

Keep an eye on:

• Sony’s PlayStation 3 sales risen 192 percent in North America since they announced the 40GB and 80 GB units. (Sony)
• Steep price cuts amplify next generation DVD wars this holiday shopping season. (WSJ)
• News Corp in talks to buy LinkedIn? Nope says LinkedIn founder Reid Hoffman. A spokesman goes further saying there is “absolutely no truth in the rumour.” (Telegraph) (TechCrunch)