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| UPDATED: 2008-01-29 |
 IAC/InterActiveCorp Faces Lawsuit... 
By: Andy Beal 2008-01-29 ...to Remove Barry Diller. I wonder if Jim Lanzone is quietly chuckling to himself over news that LIbert Media is suing to have Barry Diller... ...removed from the board of IAC/InterActiveCorp. Reuters reports the suit comes as Libert Medias John Malone is trying to get Diller and six other IAC board members removed. "Diller has long controlled Liberty Medias voting rights in board matters, per a proxy agreement, but Liberty lawyers argue those rights were revoked when Diller decided to pursue the spin-offs without Libertys consent. Malones lawyers claim such consent is required under the agreement that gives Diller the rights in the first place." "Liberty also said in court papers it would remove Diller as a director of an entity called BDTV, which it argues would take away his power to vote its shares, which constitute roughly half of Libertys IAC voting power. About 99 percent of BDTV is owned by Liberty subsidiaries." IAC is the parent company of Ask.com"in case you didnt get the Jim Lanzone reference. 
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About the Author: Andy Beal is an internet marketing consultant and considered one of the world's most respected and interactive search engine marketing experts. Andy has worked with many Fortune 1000 companies such as Motorola, CitiFinancial, Lowes, Alaska Air, DeWALT, NBC and Experian. You can read his internet marketing blog at Marketing Pilgrim and reach him at andy.beal@gmail.com. |
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