Everybody's Scared Of Somebody
What's the meaning of the terse statement that billionaire John Malone has increased his stake in IAC to 30%? IAC's Barry Diller is pretty menacing, in a killer queen fashion. But Malone is the one tycoon that all the others, including Diller and even Rupert Murdoch, are scared by. His dealmaking ruthlessness is such that the Liberty Media boss was nicknamed 'Darth Vader' by his peers in the cable industry, in which he made his first fortune. In October, Malone bluntly told the Wall Street Journal he thought Barry Diller was no longer bringing value to Ticketmaster, Ask.com, College Humor and the other sites IAC owns. "The hook is set. It is our company," he said of IAC. "Barry ain't going to be able to spit the hook." By dropping the news on a Friday evening, Barry Diller may minimize his public humiliation. But that doesn't alter the reality: he's bent to Darth Vader's will.