Article: Judge Allows IAC Split.(Liberty Media Corp.)(IAC/InterActiveCorp.)(Brief article)

by Mike Farrell

A Delaware Chancery Court judge ruled in favor of IAC/InterActiveCorp late Friday, dismissing Liberty Media's intention to block the Internet giant's attempt to split into five separate companies.

The ruling came two weeks after a five-day trial in Wilmington, Del., and would seem to be a major blow to Liberty, which had hoped that the trial would allow it to sever its relationship with IAC chairman Barry Diller once and for all and gain control of IAC.

The dispute stemmed from IAC's Nov. 5 plan to split into five separate entities: Liberty, which initially was in favor of the split, changed its mind when it learned Diller had planned a single-tier ...

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