Waiting for a quick resolution of the dueling lawsuits filed by Liberty Media (NSDQ: LINTA) and IAC (NSDQ: IACI) over control of the latter? Stop holding your breath … Reuters reports that a Delaware Chancery Court judge told the parties in a hearing today that the dispute needs to be litigated and probably will go to trial — in March. Vice Chancellor Stephen Lamb said he needed to see evidence on both sides and repeatedly reminded them he would not “listen to the arguments” today. John Malone’s Liberty and Barry Diller’s IAC each have asked the court to stop the other’s plans and actions immediately, and to prevent future moves.
This likely delays IAC’s planned spin-off of four new public companies indefinitely. Malone approved the spin-offs until he heard Diller’s plans to flatten the dual-class share structure into a single class that would dilute Liberty’s voting power.