Barry Diller Steps Down as IAC CEO

Barry Diller is stepping down as chief executive of IAC/InterActiveCorp (IACI), the company said, adding it had bought out one of its largest shareholders, John Malone’s Liberty Media (LNTA). IAC said on Thursday Liberty¬† had sold its entire equity stake in IAC in exchange for $220 million in cash and the Evite and Gifts.com businesses. The online businesses will become part of Liberty’s Interactive unit. – Reuters

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