LOS ANGELES � Barry Diller, the media mogul who claimed credit for the merger of Live Nation and Ticketmaster, has resigned as chairman of the merged company.
Diller announced his resignation on Tuesday at a board meeting after a boardroom power struggle with another media giant and director, John Malone, according to a person with knowledge of the situation.
The person declined to be identified because of the sensitivity of the situation.
Live Nation Entertainment Inc.'s stock has plummeted this year following a disastrous summer concert season. Since hitting a high of $16.70 in late April, shares are down 41 percent.
Diller owns less than 1.5 percent of the stock outstanding compared to Malone's Liberty Media Corp., which owns 14.3 percent.
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