NEW YORK — IAC/InterActiveCorp Chairman Barry Diller shot back Tuesday at Liberty Media Corp. Chief Executive John Malone, saying it was "preposterous" that Malone's lawyers had filed court papers to remove him from the board in an effort to gain control of the company.
"Liberty does not control IAC," IAC said in a statement.
New York-based IAC owns such brands as Ask.com, Match.com, Evite, Citysearch, Ticketmaster and LendingTree.
Although Liberty Media owns about 30% of IAC's equity, it controls about 62% of the voting power because of a structure under which it holds all outstanding Class B common stock, which carries 10 votes a share. It owns about 23% of IAC's regular common stock, which carries one vote a share.