Operation Regime Change

BY SDH Barry Diller built IAC Interactive Corp via acquisitions of profitable web properties bringing them under one roof to form his internet holding company which is home to well know web destinations like, Expedia.com, Match.com and more recently collegehumor.com. But if you ask us, Diller may have just been put on notice by Liberty Media boss John Malone who holds a reported 30% stake. During an interview late last year, Malone said that he no longer thinks Diller brings value to the company. Now Malone is acting on this statement by trying to kill the Diller era. In a bold but expected move, Malone asked a court for the go ahead to force Diller out, and perhaps hand the CEO title to a younger more energetic fresh thinker from within or outside the company who will perhaps bring that value Malone claims Diller lacks? Diller has to be feeling the Neuse tightening around his neck. Clearly Malone and company are congregating on IAC’s borders for a full scale attack with the objective of regime change at IAC. But will Malone’s potential invasion be unilateral or will he bring others on board? Malone is not known for raiding corporations and forcing change like the Suge Knight of corporate America Carl Icahn. But he carries more weight than many of the CEOs of the companies he holds shares in. When Malone upped his stake in IAC, Liberty Media claimed at the time, they upped their stake in IAC to take advantage of IAC’s low stock price. But only an idiot would buy that. If Barry Diller were to look out his office window through binoculars, he will see Malone and his troops looking right back at him through their binoculars just waiting for the right time to take the kill shot. Rupert Murdoch came out alive from a possible Malone attack, will the same happen for Diller?