|Barry Diller (left) did not address reports of conflict between him and board member John Malone.|
LOS ANGELES — Barry Diller, the media mogul who claimed credit for the merger of Live Nation and Ticketmaster, will resign as chairman of the merged company.
The decision follows a power struggle with another media giant and board member, John Malone, a person with knowledge of the situation said.
Diller announced his resignation at a board meeting Tuesday, said the person, who declined to be identified. The news was reported earlier by The Hollywood Reporter.
Live Nation Entertainment Inc.’s stock has plummeted 41 percent this year. Diller owns less than 1.5 percent of the stock, compared to Malone’s Liberty Media Corp., with 14.3 percent.
Malone and Diller’s personal dislike for each other also played a role, the person said.
Diller did not refer to any conflict in a statement. “I have always said . . . I only planned to stay as chairman through the transition and integration of the two companies,’’ he said.