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Conde Nast Closing 'Portfolio'
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Mar 29 2008 12:00am EDT
Barry Carries the Day
"Barry ain't going to be able to spit the hook," Liberty chief John Malone confidently quipped last October.
Barry Diller's finally got a comeback for that: Ptooey!
A Delaware judge has ruled that Diller didn't violate his proxy agreement with Malone by proposing that IAC be split up into five separate companies -- even though the move would drastically dilute the power of Malone, whose interests Diller is theoretically supposed to be serving.
Although Diller's now free to move ahead with his plan, it's too early to rule out the possibility that this will all end in a settlement, as observers have predicted; Malone still has the option of suing to block the plan after IAC's board approves it.
