Diller on AOL: No Thanks
Barry Diller, IAC’s (IACI) chief executive, said Wednesday that he’s not interested in acquiring AOL after the Internet business is spun off from its parent company, Time Warner (TWX).
“I have no interest in purchasing AOL, but there are kinds of alliances that are possible for us,” Diller said at an investor conference in New York. “Those maybe will happen, or maybe they won’t happen.”
Time Warner–unable to sell AOL on favorable terms–is planning to spin it off as an independent public company, though it remains a source of acquisition speculation in media circles.
With its $1.6-billion cash pile, IAC is a potential buyer with a stable of Internet businesses that have clear overlap with AOL.