IAC cuts ties with Liberty Media
(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. More»