The Twilight of the Moguls

Newsweek, February, 2008 by Johnnie L. Roberts

John Malone helped build a generation of media titans like no other—only to cut them down to size and reveal them as mere mortals. Just ask Barry Diller.

I f the enemy of my enemy is my friend, as the old chestnut says, then it makes perfect sense that Barry Diller would host a swanky soiree last summer for his former boss Rupert Murdoch. They once had been on the outs: after building the Fox television network for Murdoch in the 1980s, Diller stormed off when Murdoch refused to make him a partner in his News Corp. media empire. But 15 years later, here was Diller—now a full-fledged mogul in his own right after building up the Internet company IAC/InterActive—hosting the crème of Manhattan aboard his yacht to celebrate Murdoch’s successful bid for Dow Jones and its...

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