IAC/InterActiveCorp (NASDAQ:IACI) CEO Barry Diller is stepping down from the company. Liberty Media is also exchanging their equity stake in IAC for cash and assets in a deal that is worth $220 million. Liberty is exchanging 12.8 million IAC shares for all of the capital stock in an IAC subsidiary the runs the Evite and Gifts.com businesses.

Political website The Daily Beast and printed news publication Newsweek are in talks about a possible combination. One of the biggest challenges will be the merger of three strong personalities too.

Live Nation and Ticketmaster have entered a definitive agreement to merge in a deal worth $2.5 billion.  The new entity will be called Live Nation Entertainment.  The deal is tax-free and is in all stock and is subject to potential legal issues.

“It was less than two months ago that Ticketmaster ended its 10-year partnership with Live Nation, and I’m extremely glad we could reunite with this combination. No different from any other industry, the challenges are all around every aspect of live entertainment. Being able to put Live Nation and Ticketmaster into an equal partnership will allow the companies to get through this difficult period and be able to expand live entertainment options to audiences throughout the world,” stated Diller.

Barry Diller will be chairman and Michael Rapino will be CEO of Live Nation Entertainment.  Dropping the Ticketmaster brand name may help the company increase sales since Live Nation has a better reputation.