BUSINESS
05/06/2008 05:12 am ET Updated May 25, 2011

Diller And IAC Board Set To Meet Over Breakup

Fresh off his legal victory over Liberty Media, IAC/InterActiveCorp boss Barry Diller is expected to meet with his board this week to restart the process of breaking up his company into five separate pieces, The Post has learned.

At the same time, sources said Diller and Liberty Media Chairman John Malone are continuing to talk about a deal that would trade one or more of IAC's assets for Liberty's ownership stake in IAC.

According to two sources close to the situation, IAC's board is scheduled to meet this week for the first time since Delaware Chancery Court Judge Stephen Lamb ruled in favor of Diller in his contentious battle with friend-turned-foe Malone over control of IAC.

At the meeting, the board is expected to discuss ways to move forward with the structure of the spin-off, which would create four separate entities as follows: HSN home-shopping network, Ticketmaster, Interval International, and LendingTree. IAC would be left with such assets as Ask.com and Match.com.

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