NEW YORK—IAC/InterActiveCorp Director William H. Berkman, a representative of major shareholder Liberty Media Corp., will not stand for re-election at the company's 2008 annual meeting, according to a Securities and Exchange Commission filing Friday.
Last month, media moguls Barry Diller and John Malone settled a months-long legal skirmish over the breakup of Diller's Internet conglomerate IAC/InterActiveCorp, paving the way for the Internet conglomerate to spin off four of its units.
IAC/InterActiveCorp said the decision did not result from any disagreement between Berkman and the company.
Berkman has served on the board since February 2006, after being nominated as one of Liberty Media's two director candidates. He has served as a managing partner of Associated Group LLC, the general partner of Liberty Associated Partners LP, since 2000.
IAC/InterActiveCorp said the annual meeting is expected to be held early in the third calendar quarter of 2008.
The company's stock dropped $1.17, or 5.2 percent, to $21.23 on Friday amid a broader market sell-off. The shares have traded between $19 and $35.72 during the past 52 weeks.
