ADVFN - Advanced Financial Network.
HOME» NASDAQ » L » LINTA Stock Price » LINTA Stock News

Liberty Media Share News

 Liberty Media - Interactive Common Series a (mm) Stock Price
LINTA Stock Price
 Liberty Media - Interactive Common Series a (mm) Stock Chart
LINTA Stock Chart
 Liberty Media - Interactive Common Series a (mm) Stock News
LINTA Stock News
 Liberty Media - Interactive Common Series a (mm) Company Information
LINTA Company Information
 Liberty Media - Interactive Common Series a (mm) Stock Trades
LINTA Stock Trades

Liberty To Give Up Its Stake In IAC, Which Names New CEO

DOW JONES NEWSWIRES IAC/InteractiveCorp. (IACI) and Liberty Media Corp. announced an asset swap in which Liberty Media gave up its controlling voting power in the Internet-property operator for $220 million and the business that owns Evite and The assets will be attributed to Liberty Interative (LINTA, LINTB). Liberty Media held 60% voting power in IAC/Interactive, whose other holdings include and IAC Chairman and Chief Executive Barry Diller is now the company's largest owner with a 34% voting stake. That could rise to 41% as he was granted the right to swap up to 1.5 million common shares for Class B stock. Diller and Liberty Chairman John Malone have been business partners since 1993. But the relationship became strained in recent years, with Liberty in early 2008 moving to push out Diller in the wake of a plan to break up IAC. That breakup did occur. Meanwhile, it was also disclosed Thursday that Diller is giving up the CEO post to chief Greg Blatt. "It's been clear to me for some time that this company needs a full time aggressive and aspirational executive in the CEO role," said Diller. "While I'm not going anywhere, IAC, with its operating businesses growing, large cash resources and virtually no debt, needs the kind of leadership that Greg Blatt can bring it." The 42-year-old started running in February 2009. Shares of IAC and Liberty Interactive were inactive premarket. -By Kevin Kingsbury; Dow Jones Newswires; 212-416-2354;

Stock News for Liberty Media (LINTA)
No Recent News Available

Liberty Media and other NASDAQ stock quotes are delayed by at least 20 minutes.
All other stock price and quote data is delayed by at least 15 minutes unless otherwise stated. By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations