Internet mogul Barry Diller is locked in a battle with former cable baron John Malone for control over IAC, and he told his staff last night to expect the case to go to court this week. Writes a tipster:
Barry sent out an email to corporate last night saying the case will be this week, everything will be fine, iac's stock been doing really well thanks to everyone at IAC corporate etc. I don't have a copy but if you know someone there who can get you one, might be interesting to read in a Dr. Pangloss kind of way.
As I'm sure most of you are aware, IAC will be in court this week to resolve a business dispute with Liberty Media related to how we implement our planned spin-offs. The trial will begin tomorrow in Delaware, and is expected to run through the end of the week. The media has not surprisingly become enchanted with this dispute, so I expect a fair amount of press coverage during the process attempting to paint the trial as going one way or the other. Please do your best to ignore it. I will try as well but probably fail.
At the end of the day, it's purely a business dispute. We are highly confident in our legal position and are looking forward to proving our case to the judge. But, whatever the outcome, you have much to be proud of. And no one, including those seeking to dramatize this dispute with generic and often wrongheaded characterizations of our Company, can or should take that away from you.