Media moguls Barry Diller and John Malone reconciled, according to a joint press release issued last week indicating that Malone-led Liberty Media will remain a shareholder of Diller-led InterActiveCorp.
Observers had expected a divorce with division of assets.
That didn't happen. Instead, Liberty agreed to drop its appeal of an adverse Delaware court decision handed down March 28 regarding the proposed spinoff of IAC businesses. That clears the way for IAC to spin off its HSN, Interval International, Ticketmaster and Lending Tree businesses. Liberty owns about 30% of IAC's equity and has a larger voting stake.
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