Is Liberty Exiting IAC/InteractiveCorp Entirely? (IACI, LINTA, LINTB, LMDIB, LCAPA, LCAPB)

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By Douglas A. McIntyre Updated Published
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Money_stack_pic_3John Malone and Barry Diller had their full round of the boxing match last year.  But now it seems another fight may be under way.  Liberty Media Corp. has been unloading shares of IAC/InteractiveCorp (NASDAQ: IACI). There have been steady reports and filings over the last week (and even in prior weeks) showingthat Liberty was unloading those shares. But a new filing shows that sales are continuing into 2009, and you have to wonder if Liberty is on its way to just calling it a day.

It sold more than 1.3 millionshares at the very end of 2008.  A filing today showed another 344,000shares were sold off at prices of between $15.96 to$16.14.

This is so far not an exit from the stock.  That would take fartoo a high toll on Liberty.  It also still hasplenty of skin in the game with almost 27.2 million shares remainingafter the last filing.

This follows steady selling since the end of 2008.  It seems that BarryDiller’s victory over John Malone came with a price.

The Malone structure is complicated.  if you want to know which stock is which, here is a list:

  • Liberty Media Interactive (NASDAQ: LINTA),
  • Liberty Media Corporation (NASDAQ: LINTB),
  • Liberty Media Corporation (NASDAQ: LMDIB),
  • Liberty Media Capital (NASDAQ: LCAPA),
  • Liberty Media Corporation (NASDAQ: LCAPB)

Jon C. Ogg
January 6, 2009

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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