Barry Diller Defends His Plans For IAC On Stand

Sometimes the simplest defense is the best defense. That was the case on Friday, when Barry Diller testified at trial in the lawsuit by John Malone's Liberty Media that seeks to invalidate Diller's plans to spin-off Liberty subsidiary IAC.

Malone and others have painted Diller's aims as purely selfish, as a way to exercise improper control over assets that include Ticketmaster and the HSN home-shopping network.

In court on Friday, Diller shrugged off those allegations and simply said his plan "was in the interest of all of those invested in IAC," and that a breakup would allow each of IAC’s "fresh, new little babies” to flourish.

Diller also said he does not intend to be involved in running the four subsidiaries.

A ruling could come by March 28