Iac

Liberty Media Corp., based in Englewood, Colo., and New York-based IAC/InterActiveCorp agreed to keep IAC's board intact until a trial next month to settle their dispute over control of the firm. Lawyers for both companies filed a proposed status quo order maintaining the board and allowing IAC's bylaws to stay in effect until the trial, according to the filing in Delaware Chancery Court in Wilmington.

IAC/InterActiveCorp Chairman Barry Diller, producer Scott Rudin and publishing executive Frances Coady are investing in a book venture that will try to challenge Amazon.com Inc.'s dominance in the industry. The project, called Brightline, is expected to release fiction and nonfiction titles by mid-2013, New York-based IAC said Wednesday. Brightline will make electronic books for mobile devices using software by Brooklyn-based Atavist, which will exchange minority equity interests with the venture.

IAC/InterActiveCorp Chief Executive Barry Diller testified Thursday that his plan to break up the media conglomerate was in the best interests of shareholders. "It was in the interest of all of those invested in IAC," Diller said in a Delaware Chancery Court lawsuit pitting him against Liberty Media Corp. Chairman John Malone. Diller announced in November that he wanted to spin off four of IAC's businesses, including its HSN home shopping network and Ticketmaster ticketing service.

Concert behemoth Live Nation Entertainment Inc. on Monday said it purchased the remaining shares of Front Line Management Group Inc. that it didn't already own for $116.2 million from Irving Azoff and Madison Square Garden. Founded in 2004, Front Line represents Christina Aguilera, Aerosmith, Jimmy Buffett and numerous other musicians. In addition, Azoff, chief executive of Front Line, becomes Live Nation's chairman, consolidating his power at the Beverly Hills entertainment giant, which last year merged with the country's largest ticket seller, Ticketmaster, in a deal worth $889 million.

Media mogul Barry Diller will step down from his role as chief executive of IAC/InteractiveCorp, the company said Thursday, as he assumes the positions of chairman and senior executive. "It's been clear to me for some time that this company needs a full-time aggressive and aspirational executive in the CEO role," Diller said in a statement. Former Match.com CEO Greg Blatt will become IAC's chief executive. The news came as IAC and John Malone's Liberty Media Corp. announced that Liberty had agreed to exchange its 60% stake in IAC for all of the stock of a wholly owned subsidiary of IAC that holds the Evite and Gifts.

IAC/InterActiveCorp said it swung to a second-quarter loss, hurt by a $300-million write-down in a catalog business, but excluding that and other charges its earnings beat analysts' estimates. Barry Diller's Internet conglomerate reported a loss of $421.6 million, or $1.51 a share. In the year-earlier quarter IAC had a profit of $94.6 million, or 31 cents, according to restated results. On an adjusted basis, New York-based IAC reported earnings of 35 cents a share -- better than the 31 cents expected by analysts polled by Thomson Financial.

The recession took a bite out of IAC/InterActiveCorp in the first quarter, as revenue fell 22% in the Internet company's media and advertising unit, which includes the Ask.com search engine. Shares of IAC advanced 69 cents, or 4.3%, to close at $16.65, however, as investors probably found solace in the fact that IAC slightly exceeded revenue estimates and said it bought back stock during the quarter. The New York-based company, headed by Barry Diller, said that in the first three months it lost $28.4 million, or 19 cents per share.

Barry Diller, who warned last week at a media industry conference that the transition from old media to new media would be "bloody," is turning to Ben Silverman for help with triage.

Coca-Cola Co. said Tuesday that its fourth-quarter profit rose 55% as sales grew in China and India. Net income increased to $1.54 billion, or 66 cents a share, from $995 million, or 43 cents, a year earlier, the Atlanta company said. Earnings per share matched analyst estimates compiled by Bloomberg. Revenue increased 5.4% to $7.51 billion, the company said. Sales by case volume grew 29% in China and 20% in India, helping boost global volume 5% and offsetting declines in North America.

President Obama has named Julius Genachowski, a friend from Harvard Law School, as his nominee to chair the Federal Communications Commission. Genachowski was an advisor to Obama's campaign and has been a senior executive at Barry Diller's Internet conglomerate, IAC/Interactive Corp. Genachowski worked at the FCC as chief counsel to the chairman and as special counsel from 1994 to 1997. Genachowski's nomination was widely expected after leaks from the Obama succession team in January.

Media mogul Barry Diller will step down from his role as chief executive of IAC/InteractiveCorp, the company said Thursday, as he assumes the positions of chairman and senior executive. "It's been clear to me for some time that this company needs a full-time aggressive and aspirational executive in the CEO role," Diller said in a statement. Former Match.com CEO Greg Blatt will become IAC's chief executive. The news came as IAC and John Malone's Liberty Media Corp. announced that Liberty had agreed to exchange its 60% stake in IAC for all of the stock of a wholly owned subsidiary of IAC that holds the Evite and Gifts.

Coca-Cola Co. said Tuesday that its fourth-quarter profit rose 55% as sales grew in China and India. Net income increased to $1.54 billion, or 66 cents a share, from $995 million, or 43 cents, a year earlier, the Atlanta company said. Earnings per share matched analyst estimates compiled by Bloomberg. Revenue increased 5.4% to $7.51 billion, the company said. Sales by case volume grew 29% in China and 20% in India, helping boost global volume 5% and offsetting declines in North America.

Barry Diller, who warned last week at a media industry conference that the transition from old media to new media would be "bloody," is turning to Ben Silverman for help with triage.

The recession took a bite out of IAC/InterActiveCorp in the first quarter, as revenue fell 22% in the Internet company's media and advertising unit, which includes the Ask.com search engine. Shares of IAC advanced 69 cents, or 4.3%, to close at $16.65, however, as investors probably found solace in the fact that IAC slightly exceeded revenue estimates and said it bought back stock during the quarter. The New York-based company, headed by Barry Diller, said that in the first three months it lost $28.4 million, or 19 cents per share.

President Obama has named Julius Genachowski, a friend from Harvard Law School, as his nominee to chair the Federal Communications Commission. Genachowski was an advisor to Obama's campaign and has been a senior executive at Barry Diller's Internet conglomerate, IAC/Interactive Corp. Genachowski worked at the FCC as chief counsel to the chairman and as special counsel from 1994 to 1997. Genachowski's nomination was widely expected after leaks from the Obama succession team in January.

Ticketmaster is set today to become a stand-alone publicly traded company, just as the dominant seller of tickets to concerts and sporting events is about to lose its biggest customer. For five years, the West Hollywood-based company has been part of IAC/InterActiveCorp, owner of an assortment of Internet-based businesses. Under that umbrella, the subsidiary, which last year sold 141 million tickets valued at $8.3 billion, has done well. Over the last three years, Ticketmaster's revenue has grown at an annualized rate of 18% to $1.24 billion in 2007, with profit increasing at a 34% rate to $169 million.

Ticketmaster is set today to become a stand-alone publicly traded company, just as the dominant seller of tickets to concerts and sporting events is about to lose its biggest customer. For five years, the West Hollywood-based company has been part of IAC/InterActiveCorp, owner of an assortment of Internet-based businesses. Under that umbrella, the subsidiary, which last year sold 141 million tickets valued at $8.3 billion, has done well. Over the last three years, Ticketmaster's revenue has grown at an annualized rate of 18% to $1.24 billion in 2007, with profit increasing at a 34% rate to $169 million.

Concert behemoth Live Nation Entertainment Inc. on Monday said it purchased the remaining shares of Front Line Management Group Inc. that it didn't already own for $116.2 million from Irving Azoff and Madison Square Garden. Founded in 2004, Front Line represents Christina Aguilera, Aerosmith, Jimmy Buffett and numerous other musicians. In addition, Azoff, chief executive of Front Line, becomes Live Nation's chairman, consolidating his power at the Beverly Hills entertainment giant, which last year merged with the country's largest ticket seller, Ticketmaster, in a deal worth $889 million.

IAC/InterActiveCorp said it swung to a second-quarter loss, hurt by a $300-million write-down in a catalog business, but excluding that and other charges its earnings beat analysts' estimates. Barry Diller's Internet conglomerate reported a loss of $421.6 million, or $1.51 a share. In the year-earlier quarter IAC had a profit of $94.6 million, or 31 cents, according to restated results. On an adjusted basis, New York-based IAC reported earnings of 35 cents a share -- better than the 31 cents expected by analysts polled by Thomson Financial.

Ticketmaster Inc. is expected to be spun off from IAC/InterActiveCorp by late July or early August and will borrow $750 million to pay a dividend to its former parent, IAC Chief Financial Officer Tom McInerney said Monday.