iEntry 10th Anniversary RSS Newsletter Advertising
Join the WebProWorld Forum!
Text: Decrease Font Size Increase Font Size | Print Print Article | Share: Delicious Digg StumbleUpon Post to Twitter Post to Facebook
2 commentsWednesday, December 31, 2008

Liberty Media Unloading IAC Shares At Rapid Pace

Not great news for Ask

Liberty Media - and/or its chairman, John Malone - may not have a lot of faith left in Ask.com and other IAC properties.  It seems that Liberty Media has selling the company's stock left and right, unloading 193,100 shares in the last week alone.

John Malone
 John Malone

Again, the simplest explanation for these moves may be best.  At $15.77 per share, IAC's stock is currently much closer to its 52-week low ($13.27) than its 52-week high ($26.99).  The period following December 22nd has been especially tough, with it sinking 3.55 percent since then.  And when was the last time you heard great news involving Ask?

But there are other possibilities.  Julia Angwin, who puts the value of Liberty Media's recent IAC stock sales at $17.5 million, writes, "Mr. Malone, well known for his complex deals to avoid taxes, could use the paper losses from the IAC sales to offset taxes on other gains. . . .  Recently, Liberty Media has written down the value of its IAC stock by $440 million in the third quarter, citing the 'lack of near-term prospects for recovery' in its IAC investment."

There's also a bit of personal history to consider.  Malone and Barry Diller, the chairman and CEO of IAC, had a serious disagreement over whether splitting IAC was the right move.

Regardless, though, it looks like the odds of Ask remaining any sort of player in the search engine game have become a little slimmer.

About the author:
Doug is a staff writer for WebProNews. Visit WebProNews for the latest eBusiness news.

Seo not work why

http://www.professional-mover.co.uk

See my page on google... What you think about my seo work

Ask vacuum?

Does the downfall of Ask present opportunities for new players to emerge into spaces where a vacuum has been created by recent events?

Publish A Comment

The content of this field is kept private and will not be shown publicly.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Allowed HTML tags: <a> <em> <strong> <cite> <code> <ul> <ol> <li> <dl> <dt> <dd>
  • Lines and paragraphs break automatically.
CAPTCHA
This question is for testing whether you are a human visitor and to prevent automated spam submissions.
3 + 5 =
Solve this simple math problem and enter the result. E.g. for 1+3, enter 4.
SEARCH
Popular WPN Business Resources












Subscribe to WebProNews


Send me relevant info