Barry Diller To IAC Troops On Eve Of Court Fight With Liberty Media

Unless you’re an employee of IAC (NSDQ: IACI), you’re probably reading this here first … we’ve obtained an emailed memo from IAC chairman and CEO Barry Diller to his staff that went out around midnight Eastern as he prepares to fight John Malone’s Liberty Media (NSDQ: LINTA) in a Delaware court for control of the company he founded. We have posted full text here.

Diller starts with news of a company award, the second year as Fortune‘s “Most Admired Company” in the Internet Services and Retailing category, and offers a very top-line look at “the IAC businesses that will spin off into their own independent, publicly traded companies later this year” as well as the “new IAC.” (No mention of the recent Ask layoffs or the confusion over direction.)

It’s not until the end that he gets to the real reason for writing, the trial in a Delaware state court that will determine his fate and that of the company: “As I