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.
A person with knowledge of the situation says Diller announced his resignation on Tuesday at a board meeting after a boardroom power struggle with another media giant and director, John Malone, the head of Englewood, Colo.-based Liberty Media Corp.
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.
Liberty owns 14.3 percent.
