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Business News Live Business
Barry Diller resigns from Live Nation board
By CMU Editorial | Published on Monday 31 January 2011
Barry Diller has completely stepped down from the board of Live Nation, according to an SEC filing made by the live music conglom in the US earlier this month. Diller was originally chairman of the board after Live Nation merged with Ticketmaster, he being a key shareholder in the latter, which had originally operated as part of his InterActiveCorp business.
When he first announced his intent to stand down from the Chairman role last year, he insisted he had always only intended to head up the live music and ticketing giant whilst the merger of the two companies was going through the motions. However, he did initially pledge to stay on until a full time new chair could be found, but then in October it was announced rival shareholder and board member John Malone of Liberty Media would take over with immediate effect, but also on an interim basis.
This led to various speculation that Diller had fallen out with the all new Live Nation’s top two execs Michael Rapino and Irving Azoff; or that he was pissed off that the aforementioned merger had basically ended up being a Live Nation takeover of Ticketmaster; or that there were increasing boardroom tensions between him and Malone, who had previously had run-ins with Diller as a shareholder in the aforementioned IAC. Of course, Live Nation denied all these rumours.
But whatever, Diller has now resigned from the Live Nation board completely, he having originally stayed on despite Malone taking the chair’s seat.
