After audio equipment tycoon Sidney Harman died in April 2011, his widow Jane Harman stood at a podium before the Newsweek Daily Beast newsroom to publicly proclaim her family’s commitment to the joint venture that it owned with Barry Diller’s IAC.
A little over a year later, the Harman family has stopped investing in the company, while IAC has stepped up its share to a controlling stake, Reuters has reported. The Harman family will maintain a minimum ownership stake in the company.
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