InterActive Corp. (IAC) recorded a loss in Q1 as revenue fell 22% in media and advertising — the department that houses Ask.com.

The loss totaled $28.4 million, or 19 cents per share — compared to profits of $52.8 million (38 cents per share) in 1Q08.

Meanwhile, revenue fell 10%, to $332 million, higher, at least, than the $330 million expected by analysts.

Last February IAC reported a 19% drop in 4Q08 media and ad revenue, a fall from grace more significant than any experienced by other publicly-traded internet search providers. Search ad rates fell 8-12%. Ask.com was repositioned, in part as a result.

In tandem with its dismal Q1 figures, the company also announced the acquisition of Urbanspoon, an online restaurant guide that aggregates reviews from the 'net, newspapers and food critics. Its popular iPhone app was among the first to test Google's beta app advertising program.

The site will continue to operate independently.