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May 9, 2008

NEWS: Malone Weighs Appeal Of IAC Ruling; Diller Calls It A "Nonevent"

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Malone Weighs Appeal Of IAC Ruling; Diller Calls It A "Nonevent"

from Silicon Alley Insider by 

Barry Diller 1.jpgYou didn't really expect Liberty Media's John Malone to let his old buddy Barry Diller (SA 100 #2) get off that easy, did you? Of course not. Liberty Media (LBTYA) officially filed a notice of appeal with the Delaware Supreme Court Wednesday, meaning Liberty can file an appeal, if Malone chooses.

Recall that in March, a Delaware judge gave Diller the go-ahead on his plan to split InterActive Corp (IACI) into five businesses: IAC, HSN home shopping network, Ticketmaster, Lending Tree, and Interval -- a move Malone argued illegally diluted his stake.

The notice means Liberty is keeping its options open, as CEO Greg Maffei says, "to potentially appeal if they go forward on a basis we don't like."

The filing did not indicate on what grounds Liberty would challenge the breakup. IAC claims not to be worried, calling the filing a "nonevent": "We are quite confident that the decision will not be reversed and we don't expect this to delay the spins."

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