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Diller Strikes Back at Liberty
IAC chairman defends his leadership as media barons' court battle concludes
By Laila Weir
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Posted Mar 14, 08 2:09 PM CDT
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(Newser)
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Barry Diller struck back at Liberty Media in court yesterday, blaming CEO Greg Maffei for driving a wedge between himself and Liberty chairman John Malone by speaking “badly about our businesses and our managers.” The warring media magnates—once close partners—have been waging a court battle for control of Diller’s IAC/InterActiveCorp. The trial concluded today.
Diller defended his proposed restructuring of IAC and his own leadership. Liberty sued over a plan to spin off various assets under a structure that would halve Liberty’s voting power. Diller had long voted for Liberty in a proxy agreement. The Delaware court judge said his ruling would come by March 28, but a settlement is possible sooner—a lawyer for IAC indicated that talks continue.