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Liberty Media Corporation Bought 14 Million Shares In IAC
Stake Is Bought in IAC/InterActiveCorp from the New York Times reports Liberty Media Corporation purchased an additional 14 million shares in IAC/Interactive Corp, the parent company of Ask.com. The 14 million shares came out to about $339.5 million, but have given Liberty Media Corporation about a 30 percent stake in IAC.
Liberty Media Corporation purchased the shares to take advantage of the “recent decline in the stock price of IAC,” said the New York Times.
In somewhat related news, What Advice Would Dr. Phil Have for Ask.Com? from the NY Times blog looks at recent management changes at Ask.com and whether we’ll see a new marketing push to build traffic to the site.