You didn’t really expect Liberty Media’s John Malone to let his old buddy Barry Diller (SA 100 #2) get off that easy, did you? Of course not. Liberty Media (LBTYA) officially filed a notice of appeal with the Delaware Supreme Court Wednesday, meaning Liberty can file an appeal, if Malone chooses.
Recall that in March, a Delaware judge gave Diller the go-ahead on his plan to split InterActive Corp (IACI) into five businesses: IAC, HSN home shopping network, Ticketmaster, Lending Tree and Interval — a move Malone argued illegally diluted his stake.
The notice means Liberty is keeping its options open, as CEO Greg Maffei says, “to potentially appeal if they go forward on a basis we don’t like.”
The filing did not indicate on what grounds Liberty would challenge the breakup. IAC claims not to be worried, calling the filing a “nonevent”: “We are quite confident that the decision will not be reversed and we don’t expect this to delay the spins.”
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