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Diller Strikes Back at Liberty

IAC chairman defends his leadership as media barons' court battle concludes

By Laila Weir,  Newser User

Posted Mar 14, 2008 2:09 PM CDT
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(Newser) – 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.

Attorney Greg Blatt, left, and IAC/Interactive chief executive Barry Diller enter the courthouse, Friday, March 14, 2008, in Wilmington, Del.
Attorney Greg Blatt, left, and IAC/Interactive chief executive Barry Diller enter the courthouse, Friday, March 14, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)
IAC/Interactive Chief Executive Barry Diller talks with the media after leaving the courthouse, Thursday, March 13, 2008, in Wilmington, Del.
IAC/Interactive Chief Executive Barry Diller talks with the media after leaving the courthouse, Thursday, March 13, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)
IAC/Interactive Chief Executive Barry Diller talks with the media after leaving the courthouse, Thursday, March 13, 2008, in Wilmington, Del.
IAC/Interactive Chief Executive Barry Diller talks with the media after leaving the courthouse, Thursday, March 13, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)
IAC/Interactive Chief Executive Barry Diller leaves the courthouse, Thursday, March 13, 2008, in Wilmington, Del.
IAC/Interactive Chief Executive Barry Diller leaves the courthouse, Thursday, March 13, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)
Liberty Media chairman John Malone, left, and attorney Kevin Abrams, right, leave the Newcastle County Courthouse, Monday, March 10, 2008, in Wilmington, Del.
Liberty Media chairman John Malone, left, and attorney Kevin Abrams, right, leave the Newcastle County Courthouse, Monday, March 10, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)
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Judge sets date for decision
Wall Street Journal

 
lawsuit • settlement • corporate governance • court cases • John Malone • Barry Diller • Liberty Media • IAC/InterActiveCorp • Greg Maffei

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