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LOS ANGELES Barry Diller has been overly extravagant, drawing a huge salary from IAC/InterActiveCorp. as its stock languished, Liberty Media chairman John Malone told a Delaware court Monday.
Malone complained that Diller treated publicly traded IAC as if it were “his business” and also of his “aggressive” use of IAC’s corporate aircraft.
Liberty Media owns 30 percent of IAC but controls 62 percent of the voting power. Diller plans on slicing IAC into several different companies, each with a voting structure that reduces Liberty’s control to 30 percent.
Malone objects to the plan and is asking the courts to let him replace some of IAC’s board members.
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