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A Delaware court judge has ruled that billionaire John Malone can't throw out IAC/InterActive Chairman Barry Diller just because he doesn't approve of a plan to break up the Internet company into five parts. Delaware Chancery Court Judge Stephen Lamb found the plan didn't violate a proxy agreement. Malone could still block the spinoff plan if Lamb decides that Diller violated his fiduciary duty by pursuing the idea. (Bloomberg)
More by Mark Lacter:
American-US Air settlement with DOJ includes small tweak at LAXSocal housing market going nowhere fast
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Another rugged quarter for Tribune Co. papers
How does Stanford compete with the big boys?
Those awful infographics that promise to explain and only distort
Best to low-ball today's employment report
Further fallout from airport shootings
Crazy opening for Twitter*
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Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.