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Article: In Struggle for Control of IAC, Malone Criticizes Pay Given to Diller
- Article from:
- The Washington Post
- Article date:
- March 11, 2008
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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John Malone, the billionaire chairman of Liberty Media,
criticized IAC/InterActiveCorp chairman and chief executive Barry
Diller yesterday for reaping more than $1 billion in compensation as
the Internet and media company lost value.
Malone, whose company owns shares giving him more than 60 percent
of IAC's voting rights, testified at the beginning of a trial over
control of IAC. He is asking Delaware Chancery Court Judge Stephen
Lamb to allow him to replace members of the IAC board. He said that
IAC stock has been down 20 percent since 2000.
"You can play all kinds of games with the numbers, but since
2000, they have lagged seriously behind the Nasdaq and other
indexes," Malone said. Some ...