ENGLEWOOD, Colorado: Entertainment titan Liberty Media, led by billionaire John Malone, is attempting to oust Barry Diller (pictured) from his role as chairman of IAC/InterActiveCorp.
The lawsuit filed by Liberty - which owns 30% of the ecommerce giant - is the latest salvo in an ongoing battle over New York-based IAC's plans to spin-off into five companies, including Ticketmaster and HSM home shopping network.
In a court filing last week IAC alleged that Liberty threatened to block the breakup unless the deal was structured to give it control of the new companies.
Liberty sued the next day, accusing IAC of attempting to wrest control of the new companies and dilute its voting power.
Data sourced from Wall Street Journal Online; additional content by WARC staff