delaware court

A Delaware court ruled in favor of IAC/InterActiveCorp’s Barry Diller in his dispute with Liberty Media’s chairman John Malone, paving the way for IAC to proceed with its planned spin-off of four units.

A Delaware court ruled for Barry Diller and against John Malone in a legal dispute involving IAC/InterActivCorp that has captivated media circles for weeks because both businessmen have such a fabled history.

The court ruled that Liberty Media, controlled by Malone, failed to prove that Diller had breached an unusual proxy agreement that lets Diller run IAC and vote Malone's shares, even though Malone has more stock.