Barry Diller Steps Down as IAC CEO
IAC cuts ties with Liberty Media
By Evann Gastaldo,  Newser Staff
Posted Dec 2, 2010 10:38 AM CST
Barry Diller, chairman and CEO of IAC/Inter Active Corp., and chairman of Expedia, reacts during an interview in New York, Monday Sept. 29, 2008.   (AP Photo/Bebeto Matthews)

(Newser) – Barry Diller stepped down as CEO of his IAC media empire today, but he will stay on as chairman, he announced in a press release. Greg Blatt, former CEO of Match.com, replaces Diller; Diller will retain the largest voting share in the company, which he can increase from 34% to 41% of the votes of IAC's shares over the next nine months. IAC is also cutting ties with Liberty Media after an often-contentious history: Liberty will dump its 60% stake in IAC in exchange for Evite.com, Gifts.com, and $220 million, Deadline reports.

Diller thanked Liberty's John Malone, with whom he has often tangled, "for his support and encouragement throughout (with one brief period of mutual discontent which we both believe was an aberration)." Click here for more.

 

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