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InvestorGuide Stock Analysis

Things Will Get Messier at InterActiveCorp Before They Get Better
Excerpt from the InvestorGuide.com Stock of the Day on 1/25/2008

When IAC/InterActiveCorp announced late last year that it was going to spin off a number of its businesses into separate companies, its stock which has been beaten down over the last 2-3 years, received a noticeable pop of close to 8% because everybody was optimistic that it had finally dawned on IAC and CEO Barry Diller that there was not much sense in keeping disparate businesses such as HSN, Ticketmaster and Ask.com all under one roof. But since then, the stock has come sliding back down and it recently hit a 52 week low. And yesterday came the announcement that Liberty Media (a major shareholder in IAC) is suing IAC. This is on the heels of IAC suing Liberty. So now that a two way legal battle is underway, do IAC shareholders have anything to look forward to besides those hefty legal bills?

As the Wall Street Journal points out today, the legal fight that has broken out between IAC and Liberty reflects a boiling point as far as the relationship between the CEOs of the two companies is concerned. IAC CEO Barry Diller and Liberty CEO John Malone have been longtime business partners and Malone helped Diller build the $7 bn media empire that is IAC. Liberty Media owns about 30% of IAC but its stake is a supervoting one which gives it 61.7% of the shareholder vote. Adding another twist to the story is the fact that under the terms of a deal which was struck years ago, Malone gave the proxy voting rights of Liberty's stake in IAC to Diller. Therefore, Barry Diller has the power to vote Liberty's stock in IAC as he chooses and he retains that power until he quits or dies. Of course, when this deal was struck, IAC was a thriving media empire and John Malone was more than happy to let Barry Diller call the shots as he and Liberty watched their stake appreciate as IAC's stock headed north. More >

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Morningstar Analysis for IAC/InterActiveCorp

IAC/InterActiveCorp (IACI) Upgrades

Date
Analyst
Old Rating
New Rating
08/19/2009
Stifel Nicolaus
Hold
Buy
07/27/2009
Stifel Nicolaus
Hold
Buy
03/26/2009
Canaccord Adams
Hold
Buy
02/12/2009
Cowen
Neutral
Outperform
03/13/2008
Gabelli
Hold
Buy
11/29/2007
Piper Jaffray
Neutral
Buy

IAC/InterActiveCorp (IACI) Downgrades

Date
Analyst
Old Rating
New Rating
12/04/2008
Barclays
Overweight
Equalweight
02/04/2008
Stifel Nicolaus
Buy
Hold
01/02/2008
Citigroup
Buy
Hold
04/23/2007
Piper Jaffray
Market Perform
Outperform
04/24/2006
Stifel Nicolaus
Hold
Buy
09/12/2005
Lehman Brothers
Eq-Weight
N/A

IAC/InterActiveCorp (IACI) New Coverage

Date
Analyst
Rating
07/01/2009
Oppenheimer
Outperform
05/13/2009
Benchmark
Hold
10/06/2008
Barclay's
Overweight
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