The argument goes that IAC chairman Barry Diller is battling with John Malone over control of the company because he's never been the visionary he claims to be. Odd. He certainly seemed like one back in 1999. That's when he appeared on Charlie Rose to explain why his company, then called USA Networks, tried to acquire Lycos for $20 billion. Check out the clip. Nine years ago, Diller nailed the Internet. Though maybe not the Lycos deal.

A tipster tells us to expect a "big shakeup at Ask.com," including "change in product lineup and company direction." The shakeup "could effect CA and NJ office, Lots of SVP, EVP, VP, CTO types that probably are redundant." It's a vague and poorly sourced rumor, but with IAC and its chairman Barry Diller already under siege, such a shakeup certainly is plausible. Especially since — judging by M&A exec Jason Rapp, who was recently transferred to unspecified new duties — it may have already begun.

Who needs Gossip Girl? Manhattan's real-life dramas are so much more intricate, petty, and intertwined. Publicity whore Julia used to date Jake, Barry's former toyboy, who was bipolar, which might explain why he dated jailbait Leven, who was friends with Britney's younger sister, who's pregnant. Leven now sees Hud, though he once shared a bed with perfume promoter Alan, who's married (to a man!); Hud looks increasingly like his former boss, Lloyd, who introduced him to Julia when the dating columnist and TV commentator moved to New York. Bad move: Julia published a photo of him in a red scarf, looking Lloyd-like, and now Hud's pissed: he yelled at her at the Beatrice, even though pretty-boy Fabian and Chloë were there. (Wasn't she in some movies?) Sooo embarrassing. But not as embarrassing as Julia totally stealing Chloë's red dress (not nearly as nice as the ones designed by Barry's beard, Diane) for Valentine's Day. Or when Emily, Julia's new best friend, hinted that Josh was a premature ejaculator; he certainly got revenge. CLICK FOR CHART »

How will Barry Diller get John "Darth Vader" Malone to put down his light saber and end his fight for Diller-controlled internet conglomerate IAC? Shopping! According to the Wall Street Journal, evil queen Diller's approach focuses on cable shopping network HSN, and will go something like this: Come on, Johnny Death Star, it'll be fun! When I called you "insane" I meant "insane about a good sale!" HSN totally redid their interior, out with the shoddy gauche stuff and in with Sephora and Scoop NYC. They stock TONS of black, which I know is your favorite. What I think you'll like best is that the prices haven't even changed. If you act now, you can get the shopping network for the same low, low price I offered before — the rest of IAC, safely in my hands — and I'll throw in the extra 5 percent in quarterly sales HSN just posted at no additional charge. And if you call now, I'll also add the Nike champ I lured to run HSN. [WSJ]

Despite the beating the IAC boss is receiving in the business press, Barry Diller showed up last night at the grandest party of Fashion Week, the bizarre event sponsored by Gucci for poor Malawian children each of whom could survive a decade for the price of the fashion label's more expensive accessories. By the internet mogul's side, as usual, Diane von Furstenberg, the fashion designer he wed in 2001. Which is as good a time as any to ask the age-old question: why on earth does 65-year-old Diller, an inducted member of the boy-loving velvet mafia, persist with such a sham of a marriage? (Clue: it's something to do with the good-looking baldie on the left.)

You know what makes you like the gayest person in the world? Celebrating your birthday with Elaine Stritch and Liz Smith and no one else. Which is exactly what Barry Diller did. I'll bet they dished about who's boffing George Hamilton these days and then drunkenly compared each other's gams. And then maybe they had a sleepover at the Carlyle, drinking whiskey sours into the wee morning hours. Actually, I'm pretty jealous. [Variety, third item]

"If AOL came down in price to something ridiculous, we probably would look at it. I just doubt we have very much interest in it," says Barry Diller, announcing a loss at his internet conglomerate, IAC, which owns websites such as Ticketmaster and College Humor. Translation: Hogwash! It's touching that you reporters and analysts still pretend that I'm a big swinging mogul. I've got angry shareholders breathing down my neck, and I can barely retain control of my own company; there's no way I can handle another troubled business. In any case, the yacht needs new carpeting.

In internet land, everybody's very excited about the Redmond software giant's bid for Jerry Yang's languishing internet directory. Where would a combination leave AOL? (Answer: without an obvious acquirer or partner.) What about the challenge to Google? (Finally, a competitor, financed by Microsoft's profits from its bloated operating system and office applications.) Most of the commentary is overblown. Fusing two mediocre internet units, Microsoft's MSN and Yahoo, will not magically produce a dynamic challenger to Google; merely, if business precedent is any guide, mediocrity on a greater scale. Unfortunately, the petrified traditional media companies don't know that. (They don't know anything really.) And that's why the creation of another internet behemoth would be so pernicious.

We don't resent the IAC billionaire's lavish lifestyle. If Diller wants to spend $200m on the world's largest sailing vessel, the 300-foot-long Eos, that's his business. "Once you're in boats, you either go bankrupt or you keep going," Diller told Lloyd Grove.The rumored $200,000 spent on silverware alone? Diller is 65 years old, and has worked hard all his life; he likes to entertain; so no judgment. But the tycoon's biggest backer, John Malone's Liberty Media, may not look so forgivingly on the expense of IAC's fancy headquarters. The Gehry-designed building on the Hudson waterfront of Manhattan, easily accessed by yacht, was quoted at a surprisingly modest $100m. But that was before decoration. We hear the fancy Italian carpeting of the IAC boss' office suite may have cost up to $1m. And I doubt Diller paid that out of his own pocket. IAC peons, or agents of Malone: what's the story? (After the jump, Diller explains his passion for big yachts: "It's not about size.")

Barry Diller's IAC claims in filings that the internet conglomerate's largest shareholder, John Malone's Liberty Media, is trying to "cripple" its business. The Colorado billionaire, aka Darth Vader, is attempting a boardroom coup. Strong language, but we were hoping for something more colorful from the embattled mogul, who had called the corporate predator's effort "insane" and his claims "hogwash".

What should Barry Diller do? The IAC boss is being hung, slowly, by his largest shareholder. And for good reason: although online commerce and advertising is growing, the internet conglomerate has shrunk in value from $22bn to just over $7bn over five years. Barry Diller's reputation as a canny businessman, built up over decades in the movie and TV business, is tarnished. IAC has proven completely unable to build new businesses; and the New York group has had little success with the assets it bought. Let us count the fuckups.

Having borrowed his empire, Barry Diller is now living on borrowed time. Former cable baron John Malone's Liberty Media is trying to break the sophisticated financial arrangements which give Diller control over IAC, his online conglomerate. Diller calls the effort "insane," "hogwash." But here's the reality: Diller owns 28 percent of the company, while Liberty owns 24 percent, according to the company's most recent proxy statement. Liberty, however, controls nearly 60 percent of the company's voting stock. Diller, in turn, has the right to vote Liberty's shares. This complicated entanglement is what Liberty and Diller are fighting about. Far more interesting than the legalisms is what it shows about Diller — and why Diller's so unhappy about it.

Barry Diller has, for a corporate titan, always had a fondness for colorful language. The IAC boss calls executives "sweetheart" (usually with a touch of queeny menace) when he's not telling them (with more macho aggression) to hit the fucking sidewalk and sell the ads themselves. In today's email to employees of his languishing internet conglomerate, obtained by Gawker, there's a new vocabulary. He dismisses an attempted corporate coup by IAC's biggest shareholder as "shenanigans", and John Malone's charges are "hogwash". (Like Britney Spears, Barry Diller affects an English accent when under stress.) Update: We had assumed the Anglicisms were inspired by Jonathan Sanchez, the New York internet group's chief communications officer and a favorite at the court of Diller. But an insider tells us Sanchez, known for introducing the word "cunt" into the IAC lexicon, was canned at the weekend. Damnation!

It is really, truly war between dark media lord John Malone and his apprentice in evil, ruthless IAC queen Barry Diller. Malone has filed suit to remove Diller from a series of shell companies through which Diller maintains a stranglehold in IAC; he also alleged some sort of "misconduct." Diller, in turn, said the following: "I am beginning to think these people are insane. Everything they cite is hogwash." Those "insane" people Diller refers to control about 60 percent of his company, so it's safe to assume Diller will keep siphoning their profit into his paychecks and smashing his company into pieces that can't be taken from him. [Wall Street Journal]

The fight between John Malone and Barry Diller is getting brutal. As Diller prepares to spin off several businesses, leaving a company focused on the Oakland-based Ask.com search engine, Malone's Liberty Media has asked a court to remove Diller from IAC's board and allow Liberty to appoint several board members, in an effort to seize control of the company. Liberty owns 30 percent of IAC, and holds 62 percent of the voting rights, but an agreement allows Diller to vote Liberty's shares, giving him effective control of the company. [WSJ]

A consummate dealmaker and media industry legend, Diller is the chairman of IAC, the media conglomerate that controls HSN, Ticketmaster, Match.com, Citysearch, and Ask.com, among other properties. His (platonic) wife is fashion designer Diane von Furstenberg.

HealthCentral just announced $50 million in funding. The round included a major investment from IAC and smaller contributions from prior investors Sequoia Capital, Carlyle Group and Polaris Venture Partners. HealthCentral operates several health-related websites, including the long-troubled DrKoop.com, which was once a publicly traded company a bubble or two ago. Here's how their traffic looked last year, according to Compete. It's nice and all, but stick around for the one comparing HealthCentral to WebMD. If I used the word pwnage, I would. But I don't.

It's so hard to know which corporate villain to root for. John Malone, the 'Darth Vader' of the cable industry, has built up a dominant stake in Barry Diller's IAC and is putting on the squeeze with a lawsuit. But the internet conglomerate's killer queen has learned well from his evil master: Diller is turning Malone's shares against him, siphoning off outsized personal pay while he buys playthings like the College Humor kids, and generally runs Malone's investment into the ground. (Confused? Here's Duff McDonald's explanation.)

23/6 is the political satire website from the Huffington Post and IAC. You know, sort of an Onion for the crowd that goes to College Humor for the biting wit. Now's your chance to get the sure-to-be-valuable commemorative 23/6 t-shirt! Look how excited one recipient is:

Facebook's Mark Zuckerberg may be getting all the money and media attention lately, but News Corp.'s MySpace still dominates when it comes to traffic. The site commands more than 70 percent of visits to social networks, according to this latest chart from Hitwise. Still, its share declined 8 percent in the last year. Which might explain why News Corp. chairman Rupert Murdoch was rumored to be poking around runner-up social network Bebo recently. Oh, and by the looks of things, maybe Barry Diller should have acquired MyYearbook for IAC back when he reportedly expressed interest.