Liberty Media tries to remove Diller from IAC Board

IAC stakeholder Liberty Media goes to court to remove Barry Diller and others from IAC board.

Liberty Media, which owns a majority voting stake in IAC, has filed a court action to remove Barry Diller and others from the IAC board and replace them with Liberty nominees, according to The Wall Street Journal (subscription required).

The moves come a week after Liberty and IAC sued each other over IAC's plans to spin off a majority of its business units into new companies. Under the restructuring, announced in November , search site Ask.com and its advertising business will remain inside IAC, while LendingTree, Ticketmaster, and others are spun off.

 

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