Score one for the bitter old queen. Barry Diller, battling with major IAC shareholder John Malone in court, has won the right to break up IAC without interference from Malone's Liberty. This solves one problem for Diller, but creates another. Instead of running one hodgepodge of Internet businesses, he'll have five of them to worry about. Sparring with Malone, a business ally turned enemy, will look simple compared to regaining Wall Street's affections.

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