John Malone Quietly Dumps IAC Shares
Why has John Malone been dumping his shares of IAC/InterActiveCorp in the past two weeks?
The company controlled by cable industry pioneer Mr. Malone in recent weeks has sold roughly $17.5 million worth of IAC stock, including a 193,000 share sale reported Tuesday. Mr. Malone’s Liberty Media Corp. is the majority shareholder in IAC, the Internet conglomerate run by Barry Diller.
The recent slate of sales raises questions about whether Mr. Malone is losing confidence in his IAC investment, or simply has found a better use for the cash. Representatives for IAC and Liberty declined to comment Tuesday.
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