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IAC, Liberty Make Peace Over Spin-Offs

Media bosses Malone and Diller finally bury the hatchet

By Rob Quinn,  Newser Staff

Posted May 14, 2008 8:48 AM CDT
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(Newser) – The months-long feud between media barons John Malone and Barry Diller over IAC spin-offs has ended amicably, the Wall Street Journal reports. Malone's Liberty Media, the majority shareholder in IAC, will drop its opposition to Diller's plans to divide IAC/Interactive Corp into five separate entities. Liberty will have the right to nominate up to 20% of the directors in the new companies.

IAC/Interactive Chief Executive Barry Diller talks with the media after leaving the courthouse, Thursday, March 13, 2008, in Wilmington, Del. Diller is testifying in Chancery Court in a lawsuit challenging his plan to break up the media conglomerate.
IAC/Interactive Chief Executive Barry Diller talks with the media after leaving the courthouse, Thursday, March 13, 2008, in Wilmington, Del. Diller is testifying in Chancery Court in a lawsuit challenging...   (AP Photo/Rob Carr)
Liberty Media chairman John Malone leaves the Newcastle County Courthouse, Monday, March 10, 2008, in Wilmington, Del.
Liberty Media chairman John Malone leaves the Newcastle County Courthouse, Monday, March 10, 2008, in Wilmington, Del.   (AP Photo/Rob Carr)
IAC/Interactive CEO Barry Diller talks with reporters after leaving the courthouse in this March 13, 2008, file photo in Wilmington, Del.
IAC/Interactive CEO Barry Diller talks with reporters after leaving the courthouse in this March 13, 2008, file photo in Wilmington, Del.   (AP Photo/Rob Carr, file)
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