Diller vs. Malone

They're already calling it the clash of the titans. John Malone's Liberty Media is trying to seize control of Barry Diller's IAC/InterActiveCorp. Liberty, which owns a majority voting stake in IAC, filed a court action late today to remove Diller from IAC's board. Also, Liberty is trying to remove Diller as the sole director of BDTV, an entity through which Liberty owns most of its stake in IAC. Last week, IAC and Liberty sued each other over IAC's attempt to spin off most of its businesses in several new companies (including locally-based Ticketmaster). These guys could singlehandedly prevent a recession in the legal industry. In his inimitable way, Diller responded to Malone this way: "After reading this new salvo, I am beginning to think these people are insane." There's more at Lawdragon.