Corcoran parent Cendant to split four ways

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Cendant corporate parent of NRT, which owns the Corcoran Group and Sotheby’s International, among other firms announced Monday it will split the company into four parts. Cendant’s real estate, travel-distribution, hospitality, and vehicle-rental units will become separately traded companies, according to a statement released by Cendant. Cendant founder Henry Silverman will become the CEO of the new travel company, ceasing control of the rest of Cendant, which has seen its stock shares drop steadily in recent years.