John Malone has contended that Barry Diller’s decision to resign as non-executive chairman of Live Nation Entertainment had nothing to do with his relationship with Malone or his company, Liberty Media, which owns 14% of Live Nation. Malone serves on the company’s board.
Speaking at an investor conference Friday in Manhattan, Malone said, “Barry always said (his tenure as chairman) was going to be temporary.” Malone added that his and Liberty’s relationship is “totally healed from our historic dispute.”
Reached via email on Sunday, Diller said he would not have any further comment other than, “John Malone had it right, as he usually does.”
In 2008, Diller and Liberty filed a barrage of lawsuits against each other over voting rights pertaining to Diller’s desire to split his company, IAC, into five separate companies. The matter was eventually resolved.
Diller resigned his chairmanship at a Live Nation board meeting on Tuesday. A new chairman has yet to be named.
In related news, Irving Azoff, the legendary talent manager and the non-executive chairman of Live Nation, accepted a position to serve on the board of Clear Channel.