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Article: Diller Sheds Vivendi Stake To Key on Web; $3.4 Billion Deal Lets IAC Focus on Internet Search

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The Washington Post
Article date:
June 9, 2005
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Barry Diller's Internet conglomerate IAC/InterActiveCorp said Wednesday that it is selling its stake in Vivendi Universal Entertainment for $3.4 billion, ridding the billionaire investor's company of a convoluted relationship as it gears up to enter the lucrative online search-engine market.

The deal turns over New York-based IAC's 5.4 percent stake in Paris-based Vivendi to NBC Universal Inc., which runs the television, theme parks and movie divisions owned by General Electric Co.

IAC and Vivendi also agreed to drop lawsuits that they had filed against each other in Delaware.

The truce ends an acrimonious alliance created when Diller -- the former head of Paramount Pictures and the Fox ...

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